NEW CONSTRUCTION: Family Dollar and O’Reilly Auto Parts are located at 1099 Social Street in Woonsocket, Rhode Island, the new construction building was completed in 2021 and is comprised of 16,405 square feet and is situated on a 1.38-acre corner lot.
LONG TERM LEASES: Family Dollar has more than 9 years remaining on a double net lease with five (5), 5-year renewal options. O’Reilly Auto Parts has 14+ years remaining on a double net lease with five (5), 5-year renewal options.
ATTRACTIVE RENT INCREASES: The Family Dollar lease calls for scheduled rent increases at the start of each option period. The O’Reilly Auto Parts lease has a 6% rent increase at the start of year 11 and at the start of each option period, providing the investor with an attractive increase in revenue and a hedge against inflation.
MINIMAL LANDLORD RESPONSIBILITIES: Family Dollar and O’Reilly Auto Parts have double net leases providing an ideal, low-management investment opportunity for a passive investor.
STRATEGIC RETAIL LOCATION: The Property is located at the signalized intersection of Diamond Hill Road and Social Street one of the area’s primary commercial corridors. The Property is 0.3-miles from Stop & Shop and numerous other national retailers. The Property also offers convenient access to RI Routes 146 and 99.
Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
