™ 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 Dollar Tree, Inc. and they are now the second largest discount retailer nationwide • Family Dollar & Dollar Tree have more than 15,500 locations throughout the US & Canada • Dollar Tree, Inc boasts an extremely strong investment grade credit rating of BBB- and has a market cap of ± $22B • While many retailers shuttered their doors during the COVID-19 pandemic Dollar Tree was considered an essential retailer and saw some store sales increase by 7.2% during Q2 of 2020 MATTHEWS™ 3 FINANCIAL OVERVIEW TENANT SUMMARY $1,067,896 LIST PRICE Tenant Family Dollar 8.65% Guarantor Corporate CAP RATE Ownership Fee Simple $92,373 Lease Type Retail NNN NOI Original Lease Term ±10 Years ±8,320 SF Lease Commencement 1/4/13 GLA Initial Term Expiration 3/31/24 ±23,980 SF Years Remaining ±3.5 Years LOT SIZE Rent Increases 10% Every 5-Years 1958/2014 Options to Renew Six, 5-Year Options YEAR BUILT/ RENOVATED FAMILY DOLLAR 4 RIPLEY, TN ANNUALIZED OPERATING SUMMARY DATE MONTHLY RENT ANNUAL RENT Current - 3/31/2024 $7,697.75 $92,373.00 Option 1 $8,467.53 $101,610.30 Option 2 $9,314.28 $111,771.33 Option 3 $10,245.71 $122,948.46 Option 4 $11,270.28 $135,243.31 Option 5 $12,397.30 $148,767.64 Option 6 $13,637.03 $163,644.40 Please contact a Barrington Capital agent for financing options: Kevin Puder (562) 841-1789 [email protected] MATTHEWS™ 5 KISSELL’S RIPLEY KITCHEN POLICE DEPARTMENT S. WASHINGTON ST FAMILY DOLLAR 6 RIPLEY, TN 731 GRILL & MARKET FRESH FISH S. WASHINGTON ST OUTSIDE THE BOX ANTIQUE FURNITURE STORE DEWALT WRECKER SERVICES MATTHEWS™ 7 SUBJECT PROPERTY AREA OVERVIEW MEMPHIS ± 52 MILES FAMILY DOLLAR RIPLEY, TN 9 RIPLEY, TN Ripley, Tennessee is located in Central West Tennessee, Lauderdale County. Just 50 miles north of Memphis and 20 miles east of the mighty Mississippi River lies the flourishing city of Ripley. Ripley is known for their farm fresh tomatoes that are enjoyed all around the nation. Ripley tomatoes are purchased and enjoyed by folks locally and regionally in grocery and produce stores, as well as restaurants. The Ripley Tomato Festival was established over 20 years ago. This annual event is attended by people from miles around to partake in such fun as the "Tomato Tasting" event, allowing participants to taste dishes made with Ripley tomatoes. Now is the time to invest in Ripley, Tennessee! The Ripley Downtown Development Corporation, an 11-member, non-profit Invest in Ripleyorganization, is working to make Ripley, TN economically prosperous and improve the quality of life for current and future residents and business owners. Plans are in place and construction is underway for Ripley, TN on the Horizon. Various incentives are available for anyone considering investing in Ripley, TN and for current merchants who wish to make enhancements. With each new retail business in the zone, available funding increases. Therefore, investing in Ripley, TN is essential to revitalization and a great AREA opportunity. OVERVIEW DEMOGRAPHICS POPULATION 1-MILE 3-MILE 5-MILE 2025 Projection 2,786 8,847 12,856 2020 Estimate 2,847 8,952 13,052 2010 Census 3,100 9,445 13,869 HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2025 Projection 1,099 3,215 4,793 2020 Estimate 1,125 3,272 4,882 2010 Census 1,231 3,519 5,235 INCOME 1-MILE 3-MILE 5-MILE 2020 Average $45,572 $49,775 $52,405 Household Income FAMILY DOLLAR 9 RIPLEY, TN MATTHEWS™ 9 MEMPHIS, TN Memphis, Tennessee is the largest city on the Mississippi Known as the “Birthplace of Rock and Roll,” the city holds River. Located within Shelby County, Memphis is a a significant amount of history within it’s boarders. The vibrant and historic city. It is the second largest city residents of Memphis take pride in their city, and are within Tennessee, and brings in a large amount of usually known as “Memphians.” Although this town has a tourists because of its famous and historical landmarks. variety of entertainment to offer. The sports fans of the Being only 3 miles from Memphis, Arkansas, it is only area love to cheer on the University of Memphis Tigers. a hop, skip, and a jump from the Arkansas/Tennessee As for professional teams, many cheer on the Memphis boarder. Grizzlies. The animal lovers enjoy the Memphis Zoo. Memphis has been the zoo’s home for over 100 years and has over 3,500 animals. ECONOMY Because Memphis has been such an important city for transportation and shipping, it is attractive to businesses, especially those producing goods shipped nationwide. Three Fortune 500 companies, FedEx, AutoZone, and International Paper Co. call Memphis home. These significant businesses have brought a large manufacturing industry. Of the 607,900 jobs in Memphis in July 2014, 209,900 are in the Manufacturing and Transportation industries, around 34.5 percent. Located on the Mississippi River, Memphis is one of the largest metropolitan areas in the Top City for Low Southeast, ranking 41st out of the top 75 according to a Department of Labor Release. Of the 40 metropolitan areas ahead of Memphis, only 12 are in the South. The city has historically been Cost of Living one of the largest shipping hubs in the Mid-South, dating back to the Civil War. As transportation methods developed, Memphis has continued to hold significance as a transportation hub. Now the city is home to the second largest cargo airport in the world, Memphis International Airport, and the world’s busiest domestic airport with 3.9 million metric tonnes. Memphis International Airport and Memphis have had huge significance in the railroad industry. The city has the 3rd largest rail center in the U.S. behind Chicago and St. Louis. It is also one of only four U.S. cities #7 City for with five Class 1 railroads. Entrepreneurs Many of Memphis’s residents are blue-collar, hard workers. The most common industries within this area are Transportation and Warehousing, Construction, and Manufacturing. Within those, the most common occupations are Material Moving, Construction, and Extraction. The unemployment rate has started to decrease with the overall household income increasing since early 2000. #5 Artistic City FAMILY DOLLAR 10 RIPLEY, TN MUSIC-THEMED ATTRACTIONS • Memphis, Home of the blues and Birthplace of Rock ‘n’ Roll has many must-see music- themed attractions including Beale Street Historic District, Blues Music hall of Fame, Center for Southern Folklore, Graceland (home of Elvis Presley and one of the most visited homes), Gibson Guitar Factory, Memphis Music Hall of Fame, Memphis Rock ‘n’ Soul Museum, St. Blues Guitar Workshop, Stax Museum of American Soul Music, Sun Studio, and the W.C. Handy home and Museum. RESTAURANTS • With approximately 100 barbecue restaurants alone, Memphis is also home to world-famous fine dining, rich soul food, and eclectic dining. THEATERS AND SMALL THEATERS • Memphis offers multiple choices when it comes to live entertainment, dance classical concerts and performance art. Of special note is the Orpheum Theatre, Playhouse on the Square, Circuit Playhouse, Theatre Memphis, Hattiloo Theatre, and FedExForum. ART MUSEUMS • Memphis is rich with arts, sculpture and painting exhibits offering pieces from Rodin to Renoir. Memphis also offers the Dixon Gallery and Gardens, Memphis Botanic Garden, Memphis Brooks Museum of Art, Metal Museum, Belz Museum of Asian and Judaic Art, and the Cotton Museum at the Memphis Cotton Exchange. MATTHEWS™ 11 TENANT OVERVIEW FAMILY DOLLAR 12 RIPLEY, TN A DOLLAR TREE COMPANY Dollar Tree, Inc. (NASDAQ: DLTR), North America's leading operator of discount variety stores, announced that it would buy Family Dollar for $8.5 billion. On January 22, 2015, Family Dollar shareholders approved the Dollar Tree bid. Dollar Tree, a Fortune 500 Company, now operates more than 16,000 stores across 48 states and five Canadian provinces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, and Family Dollar. FAMILY DOLLAR OVERVIEW COMPANY NAME Dollar Tree, Inc. When it comes to getting value for everyday items for the entire family in an easy to shop, neighborhood location, Family Dollar is the best place to go.