™ 180 S WASHINGTON ST | RIPLEY, TN 38063 OFFERING MEMORANDUM LISTED BY JOHNNY NOVOKMET ASSOCIATE DIRECT +1 (310) 844-9363 MOBILE +1 (310) 344-9394
[email protected] TABLE OF LIC # 02109963 (CA) CONTENTS JOSH BISHOP VP & DIRECTOR 03 EXECUTIVE OVERVIEW DIRECT +1 (214) 692-2289 MOBILE +1 (315) 730-6228 EXECUTIVE 04 FINANCIAL OVERVIEW
[email protected] LIC # 688810 (CA) OVERVIEW 06 AREA OVERVIEW BROKER OF RECORD KYLE MATTHEWS LIC # 263667 (TN) 10 TENANT OVERVIEW FAMILY DOLLAR 2 RIPLEY, TN LEASE & LOCATION • 40-year operating history at this location showing strong commitment to the market • The subject property was renovated in 2014 including a brand new roof, HVAC system, parking lot, exterior facelift and remodel of the inside • 8-years remaining on the roof warranty • Extremely attractive 8.65% return for an investor seeking a high yield on a stabilized investment • NNN Lease with the tenant responsible for taxes, insurance, and common area maintenance (including parking lot repairs up to $5,000 annually) • Corporately guarantee lease • 5-mile population exceeds 13,050 residents EXECUTIVE • Six, 5-year renewal options all of which include an attractive 10% rent increase • Located in the heart of downtown Ripley just 700 feet from the Courthouse, Police Department, OVERVIEW Chamber of Commerce, and Gas & Water Department • Ripley appeared on Newsmax magazine’s list of “Top 25 Most Uniquely American Cities and Towns,” a piece written by current CBS News travel editor Peter Greenberg TENANT • Family Dollar was acquired by