How do I help find a buyer for my local "FAMILY DOLLAR" store in my little town, since I usually deal with residential single family homes??
My realtor friend sent the MLS listing for this store, and I want to help SOMEONE buy it, to keep this store opened, because jobs are hard to come by in my little town, and I would HATE to see one of our stores close because no one can afford to keep it opened. Then our community will suffer, and families will suffer....... CALL ME 803-398-1501 IF WANTING TO FIND OUT PRICE, LOCATION AND WHATEVER ELSE YOU WANT ME TO FIND OUT FOR YOU!!!
Amanda I understand about your concerns but business is business. Family Dollar is selling out right now due to financial difficulty versus Dollar Tree and Dollar General. They are being bought out by the other guys.
Low performing stores in rural locations will likely be shuttered. Family Dollars lease the space and an investor buys the income stream and real estate from the lease with all cash or gets financing on it.
The cap rate would have to be very high for an investor to want that property in a small town location. What's likely to happen is the store will close, be re-branded to another dollar store name, or go dark and the lender will sell it cheap to a local investor who releases It out to another business.
Nobody is going to come in an rescue that property for sentimental value unless they are local to your town etc.
So it is the WHOLE Family Dollar chain that is going under.... ok well the listing price for this store is $179,000 - that is what my realtor sent to me and it is on the MLS - never had a chance to discuss a commercial STORE before, so I just wanted to see what I could do to help..... Thanks JOEL for responding - so I guess there is NOTHING I can do?
Family Dollar isn't going under they have just had back to back quarters of losing profits. So the other dollar stores and investors are looking to buy them out and become the new owners. When that happens hundreds out of the thousands of stores locations will be closed. Especially if a Dollar Tree or Dollar General is already in the area for example unless this is a better location to move to from where a Dollar Tree currently sits. Nothing is finalized until the sale goes through.
179,000 is really cheap even for rural location. Those usually are about 500k to 800k and the urban core to suburban are in the millions in price. The store size is generally 6,000 to 8,000 sq ft. At 179k something is likely to go in there.
So could I help move something along or contact someone or something? It would be GREAT to make some money from the buyer who wants to buy that store, and if there is an opportunity to make money, and keep the store open for the people who work there, and just change the name to another store, then that's what I would like to do......what can I do to help???
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