Dollar Tree

620 River Road, Washington, NC 27889

$623,226

Cap Rate 7.75%

Views: 131 DOM: 105 Updated: 11.11.24 Posted: 08.19.24 Status: Active

Summary

Price $623,226	Built/Renov 2012	Tenant Dollar Tree
Cap Rate 7.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 8,050	Lease Start 07-01-2019	#Units 16,700
Price/SF $77.42	Expiration 07-31-2029	Tenant Type Dollar/Discount
NOI $48,300	R. Term 4.8	Ownership Fee Simple
Rent/SF $6.00	Increases 0.0%/0/yrs	Pop 5Mi 15,144
Lot/AC 1.76	Options 5/5yrs	AHHI 5Mi $70,207

Robby Pfeiffer

Marcus & Millichap

Contact

Lease Highlights

Dollar Tree has 4+ years remaining on the current lease term with 5 (5-year) options to extend
The lease features $0.50/PSF rental escalations at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Dollar Tree is strategically located on River Road, with access to 7,973 vehicles passing by daily. The property is surrounded by well-known national tenants including Walmart, Bojangles, Food Lion, Belk, Lowe’s, and more. Nearby residential complexes include Armory Pointe Apartments, Quail Ridge Apartments, and Clifton Park Apartments. The 5-mile trade area supports a population of 15,144...

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Key Features

Build to suit
Near major nationals
Strategically located
Highway close
Recently extended lease
Limited competition
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Washington, North Carolina Zip Code 27889 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dollar Tree
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:16,700
Tenant S&P: BBB
Moody’s: Baa2
Stock: NASDAQ: DLTR

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 :	1,412	13,635	20,438
2024 Total Population :	1,457	14,052	20,911
2024 Employed Civilian Pop :	660	5,597	8,556
2024 Total Businesses :	54	979	1,287
2024 Average Household Income :	$ 75,813	$ 69,382	$ 75,656
2024 Total Consumer Spending :	$ 42 M	$ 388 M	$ 631 M
2024 Median Age :	46	46	49
2024 Total Households :	638	6,255	9,348
2024 Pop Age 25+: Bachelor's Degree :	188	1,575	2,667
2024 Average Home Value :	$ 345,230	$ 259,667	$ 287,305

*ESRI data is presented for informational purposes only

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