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Views: 35 DOM: 116 Updated: 04.22.24 Posted: 01.23.24 Status: Active

Summary

Price $2,983,300
Built/Renov 2024
Tenant Dollar Tree
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,000
Lease Start 03-01-2024
#Units 8,134
Price/SF $298.33
Expiration 03-01-2034
Tenant Type Dollar/Discount
NOI $179,000
R. Term 9.9
Ownership Fee Simple
Rent/SF $17.90
Increases 0.0%/10/yrs
Pop 5Mi 54,822
Lot/AC 1.01
Options 4/5yrs
AHHI 5Mi $118,462

Lease Highlights

  • Brand new 2024 construction
  • Dollar Tree recently executed a brand new 10-year lease with 4 (5-year) options to extend
  • Lease features $0.50/SF rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Dollar Tree is strategically located at FM 548 and Reeder Lane, which has a combined daily traffic count of 23,700 vehicles. The location is surrounded by well-known national tenants including 7-Eleven, O’Reilly, Chick-fil-A, Lowe’s, Chili's, Walmart, and more. In close proximity to the property are other developments such as The Preserve at Gateway, Silver Spring at Forney, Walden Pond South...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar Tree
  • Guarantor:Corp T and Rated
  • Company:Dollar Tree, Inc.
  • # Units:8,134
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NASDAQ: DLTR

About Tenant

Dollar Tree (NASDAQ: DLTR) ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores. The company is the leading operator of discount variety stores offering merchandise...


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Listing Broker

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