Family Dollar | Dollar Tree

101 East Main Street, Crosby, MN 56441

$2,375,000

Cap Rate 8.00%

Views: 197 DOM: 552 Updated: 07.24.24 Posted: 05.19.23 Status: Active

Summary

Price $2,375,000	Built/Renov 1980/2023	Tenant Family Dollar \| Dollar Tree
Cap Rate 8.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 20,000	Lease Start 07-01-2023	#Units 1,200
Price/SF $118.75	Expiration 06-30-2033	Tenant Type Dollar/Discount
NOI $190,000	R. Term 8.7	Ownership Fee Simple
Rent/SF $9.50	Increases 0.5%/5/yrs	Pop 5Mi 6,339
Lot/AC 0.99	Options 5/5yrs/0.5%	AHHI 5Mi $80,717

Isaiah Harf

Northmarq

Contact

Lease Highlights

2023 Renovations
Tenant signed a brand new long-term 10-year lease to commence July 2023 with 5 (5-year) options to extend
Lease features $0.50/SF rental escalations at the beginning of each option period
Landlord responsible for roof, structure, and capital expenditures
Corporate guarantee (NASDAQ: DLTR)
Investment grade tenant (S&P: BBB)

Location Description

The subject property consists of a 20,000-square-foot, freestanding retail building on a 0.99-acre parcel of land. The location benefits from strong access and visibility from East Main Street (8,000 VPD), which helps to drive consumers to the immediate trade area. Additionally, the siteis located in the primary commercial corridor of Crosby, which is occupied by several nationally...

...

Key Features

Recent renovation
Hard corner intersection
Near major nationals
Strategically located
Freeway visibility
Strong tenant synergy
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

...

Links

Family Dollar | Dollar Tree Wikipedia Family Dollar Wikipedia Crosby, Minnesota Zip Code 56441 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Family Dollar | Dollar Tree
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:1,200
Tenant S&P: BBB
Moody’s: Baa2
Stock: NASDAQ: DLTR

About Tenant

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,247	4,919	6,574
2023 Total Population :	2,240	4,861	6,490
2023 Employed Civilian Pop :	777	1,824	2,534
2023 Total Businesses :	122	209	239
2023 Average Household Income :	$ 72,106	$ 77,810	$ 80,759
2023 Total Consumer Spending :	$ 66 M	$ 147 M	$ 204 M
2023 Median Age :	50	47	48
2023 Total Households :	1,038	2,144	2,860
2023 Pop Age 25+: Bachelor's Degree :	216	539	769
2023 Average Home Value :	$ 294,113	$ 327,945	$ 338,857

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Main St	2nd Ave SW	2019	8,000	0.23 mi
Lake Shore Dr	1st St SW	2019	8,200	0.37 mi
Lake Shore Dr	3rd St SW	2019	9,100	0.46 mi
Hwy 6 N	4th St N W	2006	5,300	0.47 mi
State Hwy 6	Main St	2006	5,300	0.48 mi
3rd St	3rd St SW	2019	1,900	0.49 mi
3rd Ave SW	Oak St	2006	8,800	0.51 mi
3rd St SW	5th Ave W	2006	1,613	0.53 mi
Superior Ave	Vermilion St	2006	2,727	0.64 mi
Co Hwy 28	Lakeshore Dr	2019	2,750	0.70 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT