Family Dollar | Dollar Tree

250 Taft Drive, Spencer, TN 38585

$1,690,000

Cap Rate 7.30%

Views: 129 DOM: 449 Updated: 08.22.24 Posted: 06.25.23 Status: Active

Summary

Price $1,690,000	Built/Renov 2023	Tenant Family Dollar \| Dollar Tree
Cap Rate 7.30%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 10,500	Lease Start 04-17-2023	#Units 1,200
Price/SF $160.95	Expiration 04-16-2033	Tenant Type Dollar/Discount
NOI $123,375	R. Term 8.7	Ownership Fee Simple
Rent/SF $11.75	Increases 4.0%/5/yrs	Pop 5Mi 2,627
Lot/AC 1.25	Options 5/5yrs/4%	AHHI 5Mi $62,998

Lease Highlights

Brand new 2023 construction
Tenant recently executed a brand-new 10-year lease with 5 (5-year) options to extend
Lease features $.50 PSF/Year rental increases at the beginning of each option period
Landlord responsibilities limited to roof, structure, slab, foundation & parking lot
Corporate guarantee by Dollar Tree, Inc. (NASDAQ: DLTR)

Location Description

This newly constructed property is strategically located at the hard corner intersection of Taft Drive and State Highway 111 with access to 5,500 vehicles per day. The site benefits from excellent visibility via significant street frontage and a large pylon sign along State Hwy 111 as well as multiple points of ingress/egress. Additionally, it is conveniently positioned less than half a mile...

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Key Features

Hard corner intersection
Major thoroughfare
Strategically located
Freeway close
Highway location
Income tax free state
Brand new lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar | Dollar Tree Wikipedia Dollar Tree Wikipedia Spencer, Tennessee Zip Code 38585 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	799	1,593	2,520
2023 Total Population :	807	1,609	2,539
2023 Employed Civilian Pop :	307	609	966
2023 Total Businesses :	66	82	90
2023 Average Household Income :	$ 57,196	$ 56,589	$ 57,503
2023 Total Consumer Spending :	$ 17 M	$ 35 M	$ 55 M
2023 Median Age :	48	48	48
2023 Total Households :	338	693	1,073
2023 Pop Age 25+: Bachelor's Degree :	40	81	125
2023 Average Home Value :	$ 231,418	$ 227,794	$ 230,519

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Little Fall St	2022	6,084	0.12 mi
State Hwy 111	Spring St	2003	5,460	0.12 mi
State Hwy 30	Smith Dr	2003	2,240	0.39 mi
	McMinnville Hwy	2022	1,084	0.39 mi
	Smith Dr	2021	988	0.39 mi
LEMONT RD.	Woodle Dr	2020	272	0.97 mi
Lemont-Yates Mountain Road	Woodle Dr	2022	347	0.98 mi
	McMinnville Hwy	2021	795	1.38 mi
State Hwy 111	Industry Dr	2003	6,100	1.46 mi
	Baker and Boyd Dr	2022	737	1.68 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

250 Listings
20783 Views
83 Sold

William Wamble

SRS National Net Lease Group

Contact

174 Listings
15572 Views
40 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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