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Views: 143 DOM: 159 Updated: 10.21.24 Posted: 06.27.24 Status: Active

Summary

Price $2,741,000
Built/Renov 2010
Tenant Dollar Tree (GL)
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,900
Lease Start 12-01-2024
#Units 16,700
Price/SF $212.48
Expiration 01-31-2035
Tenant Type Dollar/Discount
NOI $185,000
R. Term 10.2
Ownership Ground Lease
Rent/SF $14.34
Increases 5.0%/10/yrs
Pop 5Mi 70,272
Lot/AC 1.69
Options 6/5yrs/5%
AHHI 5Mi $110,245

Lease Highlights

  • New 10-year ground lease term with 6 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar Tree is strategically located at the signalized, hard corner intersection of Laurel Road and Knights Trail Road, with access to a combined daily traffic count of 15,600 vehicles. The property is conveniently situated one block from the entrance and exit ramps to Interstate 75, which has a traffic count of 81,000 VPD. The immediate area is surrounded by well-known national tenants,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Dollar Tree (NASDAQ: DLTR) is a leading operator of retail discount stores. They offer a variety of discounted merchandise under the brand names of Dollar Tree, Family Dollar and Dollar Tree...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 1,976 32,357 75,139
2024 Total Population : 1,393 28,896 69,681
2024 Employed Civilian Pop : 298 9,591 24,556
2024 Total Businesses : 53 1,112 3,771
2024 Average Household Income : $ 128,164 $ 121,137 $ 118,320
2024 Total Consumer Spending : $ 88 M $ 1576 M $ 3711 M
2024 Median Age : 72 68 68
2024 Total Households : 790 14,814 35,736
2024 Pop Age 25+: Bachelor's Degree : 460 6,620 15,744
2024 Average Home Value : $ 596,489 $ 538,600 $ 547,851
*ESRI data is presented for informational purposes only

Listing Broker

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