Buffalo, New York
10 Years Remaining
9,107 Sq. Ft.
- Brand New 2019 Construction
- NN Lease with Limited Landlord Responsibilities
- Investment Grade Tenant – BBB- Rating from S&P
- 5% Rent Increases in Options
- Ideal Demographics for a Discount Store
- Over 383k People in 5 Miles | $58k Average Household Income
Marcus and Millichap is pleased to exclusively present a newly constructed, net leased Family Dollar in Buffalo, NY. The property is subject to a NN corporately guaranteed lease. There are 10 years remaining on the base term and six 5 year option periods available. The lease calls for rental increases of 5% in each option period.
Family Dollar operates more than 8,200 stores across the US and sells a variety of merchandise from diapers to household chemicals to automotive supplies. All of Family Dollar’s merchandise is under $10. In 2015, Family Dollar was acquired by Dollar Tree for $8.5 billion. The company was founded in 1959 and is headquartered in Matthews, NC.
The subject property is located less than four miles from downtown Buffalo. The property is situated near a signalized intersection with 27,015 combined vehicles per day. In addition, there are more than four bus stops in walking distance that go to downtown Buffalo. There are many national retailers nearby including Save-A-Lot, Rite-Aid, McDonald’s, Verizon, and more. The area is very densely populated with more than 383k people residing within 5 miles. Average household income and population density for the surrounding market are ideal discount store demographics.