Address: 59 Henniker Street, Hillsborough, New Hampshire, United States 03244
Type: Discount Store
Cap Rate: 6.25%
Lease Type: Triple-Net (NNN)
Annual Rent: $101,047
Net Operating Income: $101,047
Lease Term Remaining: 10.0 Years
Rental Increases: 10.0% Every Five (5) Years Starting Year 11
Options: Six (6) Periods of Five (5) Years Each
Year Built: 2014
Rentable Sq/Ft: 8,359 SF
Rent Sq/Ft: $12.09
Price Sq/Ft: $193
Lot Size: +/- 0.77 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Family Dollar located at 59 Henniker Street in Hillsborough, NH. The built-to-suit site constructed in 2014, consists of roughly 8,359 rentable square feet of building space on estimated 0.77-acre parcel of land.
Family Dollar Stores, Inc., the corporate operating entity, is subject to a 15-year triple-net (NNN) lease, which commenced in September of 2015. The initial annual rent is $101,047 and will increase by ten percent (10.0%) every five (5) years starting year elven throughout the term of the lease and in each of the six (6), five (5)-year tenant renewal options.
This subject investment property is situated on Henniker Street, which experiences an average daily traffic count of 12,900 vehicles. There are more than 9,244 individuals residing within a five-mile radius of the property and more than 26,481 individuals residing within a ten-mile radius. This Family Dollar property is situated in an affluent suburban community with an average household income of over $75,688 within a three-mile radius.
The Family Dollar property benefits from being well-positioned in an urban infill consisting of local and national tenants. Major tenants within the immediate area include: Tractor Supply Company, TD Bank, Santander Bank, Mobil, UPS, Dollar General, Rite Aid, McDonald’s, as well as many others. Accommodations in the immediate area include: Henniker Motel, Lake Shore Village Resort, Crotched Mountain Resort, and more. The subject property also benefits from being situated within a seven-mile radius of several academic institutions. The most notable is New England College, which has a total enrollment exceeding 2,700 students.
Hillsborough, is a town in Hillsborough County, New Hampshire. Hillsborough is still today made up of four villages: Hillsborough Bridge Village (is our downtown), Hillsborough Center, Hillsborough Upper Village and Hillsborough Lower Village. Hillsborough has many attributes to be proud of including two remarkable historic areas in the Center and Lower Villages, Fox Forest, more preserved stone arch bridges than any other town in New Hampshire, lakes and river-ways and the Franklin Pierce Homestead, the home of the fourteenth President of the United States – Franklin Pierce. The booming industry in New England’s southern cities, gave Hillsborough farmers a new cash crop: tourists. Families would escape the heat and crowds of Boston and spend the summer in Hillsborough’s old farm houses. A fine summer hotel was built on Loon Pond. The largest industries in Hillsborough’s economy are: Manufacturing, Educational Services, and Health Care & Social Assistance. Hillsborough today is a town where you can swim in any number of cool, clean uncrowded bodies of water; and picnic nearby, soar in a hot-air balloon, fish for trout or bass, go out for Chinese food, seafood, Italian, McDonald’s or ice cream, hike trails of a state research forest or browse for antiques at a number of places.
Broker of Record: Jennifer Athas License #069504