OFFERING MEMORANDUM
715 Mason Ave | Daytona Beach, FL
ACTUAL PROPERTY
2 | OFFERING MEMORANDUM
LISTED BY
EXECUTIVE OVERVIEW
3
FINANCIAL OVERVIEW
4
SURROUNDING TENANTS
6
TENANT OVERVIEW
8
TABLE OF CONTENTS
AREA OVERVIEW
9
ACTUAL PROPERTY
DANIEL GONZALES
ASSOCIATE
DIR: (305) 395-6972
MOB: (561) 767-5582
DANIEL.GONZALEZ@MATTHEWS.COM
LIC # SL3463209 (FL)
KYLE MATTHEWS
BROKER OF RECORD
LICENSE NO. CQ1052263 (FL)
JOHNNY BLUE CRAIG
REGIONAL DIRECTOR, INV.
DIR: (404) 410-9201
MOB: (850) 509-8733
JOHNNYBLUE.CRAIG@MATTHEWS.COM
LIC # SL3331383 (FL)
FAMILY DOLLAR | 3
INVESTMENT HIGHLIGHTS
• Property Highlights – Family Dollar (Daytona Beach, FL)
• Commitment to Site: Family Dollar has been at the location for 20+ Years
• 10% Rental Increase in each Option Period
• Florida is an Income Tax-Free state
• Corporate Guarantee: Family Dollar was acquired by Dollar Tree in 2015 and operates over 15,000 locations
• Recession and Pandemic Proof: Family Dollar has been thriving through the COVID-19 pandemic as one of the only
recession-proof tenants to remain open throughout the pandemic
• Dense Population Demographics: 120,000+ People within a 5-mile population
4 | DISPOSITION PROPOSAL4 | DISPOSITION PROPOSAL
Address
715 Mason Ave
Daytona Beach, FL, 32117
GLA ±10,000 SF
Cap Rate 6.18%
Year Built 1978/1995
Lot Size ±0.59 AC
BUILDING INFO
$80,219
NOI
6.18%
CAP RATE
$1,300,000
LIST PRICE
Tenant Trade Name Family Dollar
Type of Ownership Fee Simple
Lease Guarantor Family Dollar
Lease Type Gross Lease
Roof and Structure Owner Responsibility
Original Lease Term 10
Lease Commencement Date 1/30/02
Rent Commencement Date 4/1/02
Lease Expiration Date 3/30/22
Term Remaining on Lease 1 Year
Increase 10% Increase Every Option Period
Options 2 x 5 Years
TENANT SUMMARY
ANNUALIZED OPERATING DATA
Please contact a Matthews™ Capital Markets Agent for financing options:
Kevin Kern
kevin.kern@matthews.com
Lease Years Monthly Rent Annual Rent Increases Cap Rate
4/1/2017 - 3/30/2022 $6,684.92 $80,219.00 10.00% 6.18%
4/1/2022 - 3/30/2027 $7,375.25 $88,503.00 10.00% 6.81%
4/1/2027 - 3/30/2032 $8,138.92 $97,667.04 10.00% 7.51%
ACTUAL PROPERTY
6 | OFFERING MEMORANDUM
DAYTONA BEACH
± 1 MILE AWAY
volusia mall
SHOPPING CENTER
AEROPOSTALE
DILLARD’S
CHAMPS
FIRESTONE
RACK ROOM SHOES
H&M
PACSUN
FINISHLINE
HALLMARK
ETC.
TANGER OUTLETS DAYTONA BEACH
SHOPPING CENTER
BANANA REPUBLIC
BATH AND BODY WORKS
KATE SPADE
SKETCHERS
FAMOUS FOOTWEAR
MICHAEL KORS
KIRKLANDS
LANE BRYANT
LOFT
GAP
H&M
CLARKS
CARTERS
AEAGLE
COLUMBIA
ETC.
MASON AVENUE
± 21,000 VPD
FAMILY DOLLAR | 7
DAYTONA BEACH
± 1 MILE AWAY
volusia mall
SHOPPING CENTER
AEROPOSTALE
DILLARD’S
CHAMPS
FIRESTONE
RACK ROOM SHOES
H&M
PACSUN
FINISHLINE
HALLMARK
ETC.
TANGER OUTLETS DAYTONA BEACH
SHOPPING CENTER
BANANA REPUBLIC
BATH AND BODY WORKS
KATE SPADE
SKETCHERS
FAMOUS FOOTWEAR
MICHAEL KORS
KIRKLANDS
LANE BRYANT
LOFT
GAP
H&M
CLARKS
CARTERS
AEAGLE
COLUMBIA
ETC.
MASON AVENUE
± 21,000 VPD
7 | OFFERING MEMORANDUM
ACTUAL PROPERTY
ACTUAL PROPERTY
ACTUAL PROPERTY
ACTUAL PROPERTY
ACTUAL PROPERTY
8 | OFFERING MEMORANDUM
TENANT PROFILE
COMPANY NAME
Dollar Tree, Inc.
OWNERSHIP
Public
INDUSTRY
Dollar Stores
HEADQUARTERS
Chesapeake, VA
NO. OF EMPLOYEES
±60,000
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 ±15,115 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
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. One of the nation’s fastest-growing retailers, Family Dollar
oers a compelling assortment of merchandise for the whole family ranging from household cleaners to
name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for
everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced
below $10, which makes shopping fun without stretching the family budget.
GEOGRAPHIC REACH
Family Dollar serves families in more than 8,000 neighborhoods in 46 states. The Dollar Tree merger with
Family Dollar now creates a combined organization with sales exceeding $23 billion annually with more than
15,115 stores across 48 states and five Canadian Provinces. The merger has allowed Family Dollar to grow
oering broader, more compelling merchandise assortments, with greater values, to a wider array of
customers.
STRATEGY
Family Dollar oers a compelling mix of merchandise for the whole family. Ranging from an expanded
assortment of refrigerated and frozen foods and health and beauty items to home décor and seasonal items,
Family Dollar oers the lowest possible price, the name brand and quality private-brand merchandise
customers need and use every day.
15,115+
LOCATIONS
1959
FOUNDED
$23B
2020 REVENUE
FAMILY DOLLAR | 9
PROPERTY DEMOGRAPHICS
POPULATION 1-MILE 3-MILE 5-MILE
2026 Projection 12,620 67,556 129,973
2021 Estimate 11,998 64,156 122,831
2010 Population 11,309 60,192 111,576
HOUSEHOLDS 1-MILE 3-MILE 5-MILE
2026 Projection 4,994 29,614 58,545
2021 Estimate 4,749 28,159 55,403
2010 Households 4,501 26,667 50,881
INCOME 1-MILE 3-MILE 5-MILE
Avg. Household Income $43,099 $49,074 $56,367
DAYTONA BEACH, FL
Situated along the coast of the North Atlantic Ocean, Daytona Beach is a city in Volusia County, Florida. With a city population
of over 67,000 residents, Daytona is the principal city of the Deltona–Daytona Beach–Ormond Beach Metropolitan Area,
which is home to over 630,000 residents.
Daytona Beach has a thriving economy with several companies and organizations having major operations within the city. It
is also home to two institutions of higher education: Embry-Riddle Aeronautical University and Bethune-Cookman University.
Daytona Beach is also conveniently connected to other Florida cities due to Interstate 95 and Interstate 4 running through
the city. It is also served by the Daytona Beach International Airport, making it easy for tourists to visit the city.
Today, Daytona Beach is a popular tourist destination during Speedweeks as thousands of NASCAR fans flock to the city for
the Daytona 500. Other popular events in the city include Bike Week, Coke Zero Sugar 400, and Busch Clash. Tourists also
enjoy the 23 miles of white sandy beaches open to the public without time restrictions.
10 | OFFERING MEMORANDUM
ECONOMY
The local economy of Daytona Beach is thriving in all its sectors which include
tourism, housing, manufacturing, retail, and government. Daytona Beach has
always been a popular tourist destination, attracting more than 10 million visitors
to the city each year for vacations or to attend major special events such as
the Daytona 500 and Bike Week. The city is also home to the headquarters
of corporations and organizations including Brown & Brown, Halifax Media
Group, International Speedway Corporation, and NASCAR.
Employer # of Employees
Volusia County School District 7,623
Halifax Health 4,050
Volusia County, Florida 3,408
Advent Health Daytona Beach 2,288
Embry-Riddle Aeronautical
University
2,003
Daytona State College 1,250
The City of Daytona Beach 921
Bethune Cookman University 843
Florida Hospital Healthcare
Partner
697
SMA Healthcare 677
Source: CODB.US
MAJOR EMPLOYERS
QUICK FACTS
• Volusia County Visitors: 10+ million
• Bike Week Attendance: 500,000+
• Dayton 500 Attendance: 101,500+
• #6 in Fastest-Growing Places
FAMILY DOLLAR | 11
ATTRACTIONS
DAYTONA INTERNATIONAL SPEEDWAY
Home of the Daytona 500 and the Motorsports Hall of Fame of
America, the 500-acre Daytona International Speedway boasts the
most diverse schedule of racing in the world. It hosts 9 major event
weekends in addition to concerts, gatherings, car shows, production
vehicle testing, and police motorcycle training. Popular events include
Daytona 500, Coke Zero Sugar 400, and Busch Clash. Its $400 million
renovation that was completed in 2016 turned it into a state-of-the-art
motorsports facility.
DAYTONA BEACH PIER
Also popularly known as Main Street Pier, the Daytona Beach Pier has
been an iconic landmark of the city since 1925. Located along the
Daytona Beach Boardwalk, the 1,000 feet wooden pier is open every
day and is frequented by tourists and fishing enthusiasts.
DAYTONA BEACH BOARDWALK
The Daytona Beach Boardwalk features a variety of entertainment
attractions including the Joyland Amusement Center and Mardi Gras
Fun Center. The area oers rides and arcade games for people of all
ages to enjoy. In addition, racing enthusiasts can take a self-guided
tour along the boardwalk and spot automobile and motorcycle racing
commemorative plaques.
12 | OFFERING MEMORANDUM
EMBRY-RIDDLE AERONAUTICAL UNIVERSITY
The Embry-Riddle Aeronautical University is a private university in Daytona Beach that specializes in aviation and aerospace
programs. It boasts being the biggest accredited university system that specializes in aviation and aerospace. It oers over
100 associate, bachelor’s, master’s, and Ph.D. degree programs in a variety of areas of study, including applied science,
business, and engineering. Currently, over 6,000 students attend the university at its main campus in Daytona Beach. ERAU
plays 9 men’s sports, 10 women’s sports, and 1 co-ed sport which is cheerleading. The varsity sports teams compete at the
NCAA Division II level and is a member of the Sunshine State Conference and the Peach Belt Conference for track & field.
ERAU had a total economic impact of $1.98 billion statewide and supported nearly 15,000 jobs in 2020.
FAMILY DOLLAR | 1 3
CONFIDENTIALITY AGREEMENT & DISCLAIMER
This Oering Memorandum contains select information pertaining to the business and aairs of Family Dollar located at 715 Mason Ave, Daytona Beach, FL,
32117 (“Property”). The Oering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information
contained in this Oering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to
be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The
material and information in the Oering Memorandum is unverified. Matthews Real Estate Investment Services has not made any investigation, and makes no
warranty or representation, with respect to square footage, income and expenses, the future financial performance of the property, future rent, and real estate
value market conditions, the condition or financial prospects of any tenant, or the tenants’ plans or intentions to continue to occupy space at the property.
All prospective purchasers should conduct their own thorough due diligence investigation of each of these areas with the assistance of their accounting,
construction, and legal professionals, and seek expert opinions regarding volatile market conditions given the unpredictable changes resulting from the
continuing COVID-19 pandemic. The information is based in part upon information supplied by the Owner and in part upon financial information obtained from
sources the Owner deems reliable. Owner, nor their ocers, employees, or real estate agents make any representation or warranty, express or implied, as to
the accuracy or completeness of this Oering Memorandum, or any of its content, and no legal liability is assumed or shall be implied with respect thereto.
Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein.
By acknowledging your receipt of this Oering Memorandum for the Property, you agree:
1. The Oering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Oering Memorandum or its contents in any fashion or manner detrimental
to the interest of the Seller.
Matthews Real Estate Investment Services is not aliated with, sponsored by, or endorsed by any commercial tenant or lessee in the Oering Memorandum.
The presence of any corporation’s logo or name is not intended to indicate or imply aliation with, or sponsorship or endorsement by, said corporation of
Matthews Real Estate Investment Services.
Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or oers
to purchase the Property and to terminate discussions with any person or entity reviewing this Oering Memorandum or making an oer to purchase the
Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all
materials relating to this Property including this Oering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection
with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no
event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their aliates or any of their
respective ocers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or
the marketing or sale of the Property.
This Oering Memorandum shall not be deemed to represent the state of aairs of the Property or constitute an indication that there has been no change in
the state of aairs of the Property since the date this Oering Memorandum.
715 Mason Ave | Daytona Beach, FL
OFFERING MEMORANDUM
LISTED BY
DANIEL GONZALES
ASSOCIATE
DIR: (305) 395-6972
MOB: (561) 767-5582
DANIEL.GONZALEZ@MATTHEWS.COM
LIC # SL3463209 (FL)
KYLE MATTHEWS
BROKER OF RECORD
LICENSE NO. CQ1052263 (FL)
ACTUAL PROPERTY
JOHNNY BLUE CRAIG
REGIONAL DIRECTOR, INV.
DIR: (404) 410-9201
MOB: (850) 509-8733
JOHNNYBLUE.CRAIG@MATTHEWS.COM
LIC # SL3331383 (FL)