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Views: 144 DOM: 489 Updated: 07.24.24 Posted: 05.18.23 Status: Active

Summary

Price $1,783,575
Built/Renov 1975/2023
Tenant Dollar Tree
Cap Rate 8.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 15,854
Lease Start 07-01-2023
#Units 16,700
Price/SF $112.50
Expiration 06-30-2033
Tenant Type Dollar/Discount
NOI $142,686
R. Term 8.9
Ownership Fee Simple
Rent/SF $9.00
Increases 5.0%/10/yrs
Pop 5Mi 7,164
Lot/AC 1.54
Options 5/5yrs/5%
AHHI 5Mi $102,122

Lease Highlights

  • New 2023 renovations
  • Dollar Tree recently signed a brand new 10-year lease with 5 (5-year) options to extend
  • Lease features 5% rental increases every 10 years throughout the initial term and at the start of each option
  • Corporate guarantee by Dollar Tree, Inc. (NASDAQ: DLTR)
  • Dollar Tree is an investment grade tenant (S&P: BBB)

Location Description

The subject property consists of a 15,854 square foot, freestanding retail building on a 1.54-acre parcel of land. The property benefits from strong access and visibility from US Route 377 (12,300+ VPD), which considerably helps to drive consumers to the site by serving as a primary commercial thruway. Additionally, the site is located on a principal commercial corridor of the city, which is...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Gee St S College St 2009 730 0.13 mi
East Liberty Street Point Cir 2020 2,838 0.24 mi
East Liberty Street Hwy 377 2021 3,174 0.24 mi
Farm-to-Market Road 455 Hwy 377 2021 4,926 0.50 mi
Enterprise Dr 2021 7,541 0.57 mi
E Division St W Division St 2009 460 0.69 mi
S Washington St W Grove St 2012 2,700 0.76 mi
South Washington Street W Flake St 2021 4,180 0.78 mi
South Washington Street W Division St 2020 3,468 0.78 mi
North Washington Street W Main St 2020 4,104 0.83 mi

Listing Broker

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