Cap Rate: 6.75%
Total NOI: $115,500
Square Footage: 10,500
Lot Size: 1.24 AC
Year Built: 2021
The Kase Group is pleased to offer the opportunity to acquire the 100% fee simple interest in a net leased Family Dollar.
This 10,500 square foot Family Dollar, in Columbus, Mississippi has a 10-year lease which commences in April of 2021. The 100% fee simple interest in the underlying land and building is being offered. The tenant has six five-year options to renew with 5% increases in rent during the option periods. The subject property benefits from being just 1/2 mile North of the Columbus Air Force Base which employs 10,400 personnel.
Columbus is a city in and the county seat of Lowndes County, on the eastern border of Mississippi, United States, located primarily east, but also north and northeast of the Tombigbee River, which is also part of the Tennessee-Tombigbee Waterway. It is approximately 146 miles northeast of Jackson, 92 miles north of Meridian, 63 miles south of Tupelo, 60 miles northwest of Tuscaloosa, Alabama, and 120 miles west of Birmingham, Alabama. Columbus is the principal city of the Columbus Micropolitan Statistical Area, which is part of the larger Columbus-West Point Combined Statistical Area. Columbus is also part of the area of Mississippi called The Golden Triangle, consisting of Columbus, West Point and Starkville, in the counties of Lowndes, Clay and Oktibbeha.
Lowndes County is located on the northeast border of Mississippi and comprises the Columbus, MS Micropolitan Statistical Area. It is 506 square miles in size and has a population density of 116 persons per square mile. The county seat is Columbus. The Columbus and Lowndes County MSA has significant economic growth and median household income for Lowndes county is 4.9% greater than the greater Mississippi.
Columbus Air Force Base is a United States Air Force base located in Columbus, Mississippi and just 1/2 mile North of the subject property. The base is home of the 14th Flying Training Wing of the 19th Air Force, Air Education and Training Command and employs 10,400 personnel.
Primary highway access to the area is via US Highway 82, US Highway 45 and numerous state highways. US Highway 82 leads southeast approximately 30 miles to Reform, Alabama and west approximately 25 miles to Starkville. US Highway 45 leads south approximately 30 miles to Macon and north approximately 30 miles to Aberdeen. Public transportation is not provided and overall, the primary mode of transportation is the automobile.