Family Dollar
Nicolet National Forest, 4910 Pine Street, Laona, WI 54541, USA

$880,500· Single Tenant

Investment Highlights

  • Tenant Reports Store Sales
  • Sales Have Increased Every Year Since Opening
  • Investment Grade Tenant (S&P Rated BBB-)
  • 2005 Construction - Built-to-Suit
  • Average Sales Growth Over 8.50% Yearly Since Opening in 2005
  • Rent Increase Upside, Family Dollar Paying Only $7.26 PSF
    Annual Rent Compared to other Family Dollars Around the US Averaging $13+ PSF

Laona is located forty miles east of Rhinelander and about eighty miles northwest of Green Bay. The subject is a 9,090 square foot freestanding building. The tenant first opened at the location in 2005. Since opening, this location has shown consistent growth in store sales every year, averaging approximately eight percent annually. Store sales increased last year by 10 percent.

Family Dollar previously operated under a ten year double net lease with two years remaining when the tenant elected to extend the lease 2 years early. The new lease now has just under 10 years with fixed rent until year ten. Commencing in year 11 (Option 1) the rent has a 15.8% rent increase. Thereafter, the lease increases 10% every 5 years during the final four - five year lease extension options. In trade for the lease extension rents were reduced 5% bringing the rent per sf to $7.26 psf where the national average for Family Dollar leases is $13.00 psf. Given low rents and very strong sales, this location is likely among the highest profit margins within Family Dollar portfolio. These fundamentals will ensure the incoming investor will accomplish all future rent increases and make for a very long term successful tenant.

The lease is corporately guaranteed by Family Dollar. Family Dollar Stores, Inc. operates a chain of self-service retail discount stores for low to lower-middle income consumers in the United States. As of October 2014, they operated 8,100 stores in 46 states. The company was founded in 1959 and is headquartered in Matthews, North Carolina.

One or more principles of the Seller, including the listing agent is a real estate agent licensed in the State of Wisconsin and each individually and collectively holds a minority, non-controlling interest in the seller of the property.



Jeff Rowlett
262 364 1924

Jeff Rowlett is a leading Investment Advisor at Marcus & Millichap serving private capital investors in Chicago, Milwaukee and nationwide. Mr. Rowlett is widely recognized as a leading investment properties specialist. His expertise is in understanding the capital markets, knowing..


Message has been sent successfully.