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Views: 234 DOM: 277 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 9.10
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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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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Connor Shell

STREAM Capital Partners

Contact
  • 55 Listings
  • 10456 Views
  • 16 Sold

Connor Shell joined STREAM Capital Partners in 2017 as Managing Director expanding our footprint further into Southern California and bringing 8 years of expertise to this area with a long-standing development and investment history. While at STREAM Capital Partners, Connor has grown his transaction footprint, closing deals with major retail developers and private owners throughout the United States. He has developed and strengthened his relationships with private owners, family offices, inst

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