Family Dollar | Dollar Tree

315 Texas 37, Mount Vernon, TX 75457

$1,876,000

Cap Rate 6.70%

Views: 178 DOM: 451 Updated: 06.18.24 Posted: 09.27.23 Status: Active

Summary

Price $1,876,000	Built/Renov 2023	Tenant Family Dollar \| Dollar Tree
Cap Rate 6.70%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 1,320	Lease Start 10-02-2023	#Units 1,200
Price/SF $1,421.21	Expiration 10-02-2033	Tenant Type Dollar/Discount
NOI $125,685	R. Term 8.9	Ownership Fee Simple
Rent/SF $95.22	Increases 0.0%/10/yrs	Pop 5Mi 4,342
Lot/AC 0.87	Options 6/5yrs	AHHI 5Mi $88,616

Patrick Luther

SRS National Net Lease Group

Contact

Lease Highlights

Brand new 2023 construction using high quality materials and features a state-of-the-art design
Tenant recently signed a brand new 10-year lease term with 6 (5-year) options to extend
The lease features rental increases of $0.50 PSF/Year at the beginning of each option period
Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises
Landlord responsibilities limited to roof, structure, fire sprinkler, and parking lot
Corporate guaranteed lease

Location Description

The Family Dollar/Dollar Tree is located along State Highway 37, which averages 6,400 vehicles passing by daily and is a major retail thoroughfare serving the city of Mt. Vernon. The site benefits from excellent visibility via significant street frontage and a large pylon sign along State Highway 37. The site benefits from close proximity to Mt. Vernon High School (462 students), further...

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Key Features

New construction
Strategically located
Highway location
Income tax free state
Brand new lease
Long 10+ yr lease
Limited competition
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar | Dollar Tree Wikipedia Family Dollar Wikipedia Mount Vernon, Texas Zip Code 75457 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 :	2,074	3,328	4,321
2023 Total Population :	2,069	3,334	4,314
2023 Employed Civilian Pop :	882	1,479	1,905
2023 Total Businesses :	98	195	219
2023 Average Household Income :	$ 86,179	$ 98,810	$ 105,751
2023 Total Consumer Spending :	$ 62 M	$ 115 M	$ 157 M
2023 Median Age :	34	36	39
2023 Total Households :	810	1,300	1,648
2023 Pop Age 25+: Bachelor's Degree :	257	466	639
2023 Average Home Value :	$ 160,385	$ 190,806	$ 222,387

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
TX 45;RM 620	Rutherford St	2020	6,365	0.06 mi
Highway 37 South	FM 21	2021	6,647	0.06 mi
TX 45;RM 620	Hwy 37	2020	6,039	0.28 mi
	Carr St	2021	1,107	0.39 mi
Main St	Rusk St N	2014	2,483	0.77 mi
West Main Street	Kaufman St	2021	2,826	0.80 mi
Holbrook St	Scott St	2014	1,113	0.85 mi
North Kaufman Street	Dallas St E	2021	717	0.86 mi
East Main Street	Houston St	2021	3,380	0.93 mi
Main Street	Holbrook St	2020	2,958	0.93 mi

Listing Broker

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