104 ausable way, mio, mi 48647 - fortis net lease tenant retail investment investment grade -...

SINGLE TENANT RETAIL INVESTMENT

INVESTMENT GRADE - NN—3+ Years Remaining

104 Ausable Way, Mio, MI 48647

EXCLUSIVELY LISTED BY:

Deno Bistolarides Matt Weber Senior Director Senior Associate Direct: 248.419.3882 Direct 248.419.3884 [email protected] [email protected]

Representative Photo

mailto:[email protected]?subject=Family%20Dollar%20-%20Mio,%20MI






DISCLOSURE :

All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors,

affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com-

pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial

performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the

any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for

review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not

investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investiga-

tions including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent

professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL

does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that

used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided

to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental

limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax at-

torney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the prop-

erty complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consult-

ants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.







INVESTMENT SUMMARY

List Price: $532,500

Current NOI: $50,569

Initial Cap Rate 9.50%

Land Acreage: 2.08 Acres

Year Built: 1997

Building Size: 10,080

Google Maps: Click Here:

LEASE SUMMARY

Lease Type: NNN

Taxes/CAM/Insurance: Landlord Responsibility

Roof/Structure : Landlord Responsibility

Original Lease Term: 10 Years

Commencement Date: July 1, 1998

Current Term Expiration: June 30, 2018

Term Remaining: 3 Years

Rent Increases: Yes

Renewal Options: (5) Five Year Options

Lease Guarantor Corporate

TENANT HIGHTLIGHTS

NYSE Ticker Symbol: FDO

Stock Information: Click Here:

2013 Revenue: $10.49 Billion

2013 EBITDA: $786.46 Million

S&P Credit Rating: BBB-

INVESTMENT HIGHLIGHTS

10,080 –Square Foot Family Dollar

Double-Net Lease / Minimal Landlord Responsibilities

(5) Five-Year Options to Renew

Recently Extended Lease-Four-and-a-Half Years Remaining

LOCATION HIGHLIGHTS

The Subject Property is Located in Mio, MI

Average Household Income is over $41,592 Within a 5 Mile Radius

5 Mile Population Surrounding the Investment Property Exceeds 3,488

INVESTMENT OVERVIEW

Fortis Net Lease is pleased to present a freestanding Family Dollar in Mio,

Michigan. The subject property is a 10,080-square foot dollar store on approxi-

mately 1.1 acres of land located at 104 Ausable Way.

The offering is a Family Dollar built in 1997. Family Dollar signed a 10-year

lease that commenced on July 1, 1998. The lease is modified-gross with the

landlord being responsible for property taxes and a portion of the insurance.

Family Dollar recently executed a five-year option extending the lease until

June 30, 2018. The lease features five five-year options to renew. Per the lease,

landlord shall maintain and keep in good repair and replace the roof, exterior

walls, canopy, parking lot, gutters, downspouts and to maintain parking lot

lights. Family Dollar is in charge of HVAC repairs, removal of snow, ice, trash,

weed and debris.

Base Rent: $51,040

Taxes: $8,950

Insurance: $1,521

Current NOI: 50,569


https://www.google.com/maps/place/104+Ausable+Way,+Huron+National+Forest,+Mio,+MI+48647/@44.6510663,-84.1352618,749m/data=!3m1!1e3!4m2!3m1!1s0x88208e5afd048897:0xc36ca0a5faa8b032

http://finance.yahoo.com/q?s=FDO






Mio, MI

Mio lies at the junction of M-72 and M-33, two miles south of the center of Oscoda County. Oscoda Coun-ty is known for its natural beauty, friendly people and strong community spirit. Located within the Hu-ron National Forest, deep in the heart of the Ausable River Valley, our location is excellent for both tour-ism and business.

Oscoda County enjoys four seasons of recreational activities due to their beautiful lakes, rushing rivers, abundant wildlife and unpolluted forests. And their county, unlike most of Michigan’s lower peninsula, still has ample room for it’s people to put down roots and grow.

With terrific school systems, outstanding natural re-sources and dependable government services, Os-coda County offers rural living at it’s very finest.

LOCATION OVERVIEW







SUBJECT PROPERTY PHOTO







Radius 1 Mile 3 Mile 5 Mile

DEMOGRAPHICS

Population:

2019 Projection 1,077 2,332 3,405

2014 Estimate 1,110 2,381 3,488

2010 Census 1,205 2,518 3,722

Growth 2014-2019 (2.97%) (2.06%) (2.38%)

Growth 2010-2014 (7.88%) (5.44%) (6.29%)

2014 Population Hispanic Origin 16 38 49

2014 Population by Race:

White 1,084 2,319 3,402

Black 5 13 16

Am. Indian & Alaskan 6 16 21

Asian 0 3 6

Hawaiian & Pacific Island 0 1 1

Other 15 29 43

Households:

2019 Projection 487 1,035 1,446

2014 Estimate 503 1,059 1,485

2010 Census 548 1,127 1,593

Growth 2014 - 2019 (3.18%) (2.27%) (2.63%)

Growth 2010 - 2014 (12.90%) (7.22%) (2.92%)

Owner Occupied 399 830 1,180

Renter Occupied 104 229 304

2014 Avg Household Income $37,912 $39,391 $41,952


This information is deemed confidential and privileged and may contain inside information. If you are not the intended receiver do not read, copy or distribute this offering memorandum, instead delete or destroy it and contact one of our representatives.

This information is believe to be accurate but is not represented or warranted by Fortis Net Lease or any of our agents or contractors.

MORE THAN $3.4 BILLION IN SALES Fortis Net Lease is a national investment real estate brokerage firm specializing in the acquisition and disposition of investment real estate. We

help developers, franchisees, private investors and institutional funds accomplish their short and long term investment goals. The principals of

Fortis Net Lease have successfully sold hundreds of properties in over three dozen states with a total transaction volume topping $3.4 billion.

Fortis Net Lease specializes in the acquisition and disposition of the following:

Net leased single tenant properties (Pharmacies, Auto Parts, Dollar Stores, Banks, QSR, Office/Industrial, Medical, Junior/Big Box, etc.)

Portfolios & Corporate Sale-Leaseback Transactions (Burger King, Arby’s, Tutor Time, Taco Bell, Wendy’s, etc.)

Multi-Tenant Retail Centers & Medical Office (Anchored or Unanchored - 5,000 - 1,000,000 SF)

The advisors at Fortis Net Lease create long term relationships with our investors by delivering superior services and unparalleled results. When

you hire Fortis Net Lease as your exclusive representative you will experience the individual attention and professionalism that you will not re-

ceive at other large brokerage firms.

OUR TEAM

DOUG PASSON ROB BENDER RICHARD LUDWIG BRYAN BENDER DENO BISTOLARIDES MARVIN DELAURA Managing Partner Managing Partner Senior Director Senior Director Senior Director Senior Associate

(248)254.3407 (248) 254.3406 (248) 254.3410 (248) 254-3410 (248) 419-3882 (248) 254.3410

MIKE CARTER PAT HAMMOND MIKE JAWORSKI DANTE HARGIS MATT WEBER FRANK ROGERS

Senior Associate Senior Associate Senior Associate Senior Associate Senior Associate Associate

(248) 254-3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410

BEN SCHULTZ KYLE CARSON TRACEY RISCH FORTIS NET LEASE

Business Development Business Development Coordinator 30445 Northwestern Highway, Suite 345

(248) 254-3410 (248) 254.3410 (248) 254.3410 Farmington Hills, MI 48334

Website: Click Here:

http://www.familydollar.com/pages/home.aspx

104 ausable way, mio, mi 48647 - fortis net lease tenant retail investment investment grade -...

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