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Views: 101 DOM: 322 Updated: 09.15.24 Posted: 11.02.23 Status: Active

Summary

Price $2,699,085
Built/Renov 2022
Tenant Dollar Tree
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,944
Lease Start 07-01-2022
#Units 16,700
Price/SF $271.43
Expiration 07-01-2032
Tenant Type Dollar/Discount
NOI $141,702
R. Term 7.9
Ownership Fee Simple
Rent/SF $14.25
Increases 3.5%/8/yrs
Pop 5Mi 46,045
Lot/AC 1.15
Options 6/5yrs/3.5%
AHHI 5Mi $74,931

Lease Highlights

  • Dollar Tree has 8+ years remaining on the primary term with 6 (5-year) options to extend
  • Lease features 3.5% rental increase at the start of each option
  • Corporate guaranteed lease
  • Dollar Tree is an investment grade tenant (S&P:BBB)

Location Description

Dollar Tree is strategically positioned with high visibility just off the intersection of Hwy. 292 & 173 with access to a combined traffic count of more than 25,000 vehicles passing by daily. Dollar Tree benefits from being situated directly between a Target and an Aldi, creating strong crossover traffic to the site. Additional nearby retailers include Walmart, Subway, Waffle House, U-Haul and...

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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
2028 Total Population : 3,808 19,357 45,170
2023 Total Population : 3,487 18,924 44,737
2023 Employed Civilian Pop : 1,495 8,320 18,428
2023 Total Businesses : 68 418 937
2023 Average Household Income : $ 76,326 $ 95,849 $ 86,335
2023 Total Consumer Spending : $ 98 M $ 634 M $ 1356 M
2023 Median Age : 31 37 36
2023 Total Households : 1,488 7,662 18,074
2023 Pop Age 25+: Bachelor's Degree : 468 2,315 5,633
2023 Average Home Value : $ 248,289 $ 288,332 $ 272,063
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Sorrento Road S Blue Angel Pkwy 2021 12,600 0.36 mi
Sorrento Road Coral Creek Dr 2022 13,500 0.36 mi
S Blue Angel Pkwy Sorrento Rd 2009 10,800 0.36 mi
South Blue Angel Parkway Daniel Marcus Dr 2022 20,000 0.58 mi
South Blue Angel Parkway Tiger Lily Dr 2021 20,500 0.58 mi
Sorrento Rd Coral Creek Dr 2019 12,500 0.60 mi
Gulf Beach Hwy Owen Bell Ln 2009 5,900 0.75 mi
Dog Track Road Cobblebrook Dr 2021 3,000 0.92 mi
Gulf Beach Highway S Loop Rd 2022 6,400 1.18 mi
Gulf Beach Highway Sherman Ave 2021 20,000 1.28 mi

Listing Broker

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