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Views: 143 DOM: 433 Updated: 05.20.24 Posted: 09.15.23 Status: Active

Summary

Price $1,647,000
Built/Renov 2016
Tenant Dollar Tree
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 9,750
Lease Start 01-01-2017
#Units 16,700
Price/SF $168.92
Expiration 01-01-2027
Tenant Type Dollar/Discount
NOI $111,150
R. Term 2.1
Ownership Fee Simple
Rent/SF $11.40
Increases 0.0%/4/yrs
Pop 5Mi 154,305
Lot/AC 0.89
Options 3/5yrs
AHHI 5Mi $92,870

Lease Highlights

  • The tenant has 3 years of firm term remaining with 3 (5-year) options left to extend
  • The lease features a $0.50 PSF rental increase at the beginning of each option
  • Landlord responsibilities include roof, structure, exterior utility lines, parking areas, insurance, and taxes
  • Tenant reimburses for all insurance premiums and taxes
  • The lease is signed by the corporate entity 
  • Dollar Tree is an investment grade tenant (S&P: BBB)

Location Description

Dollar Tree is strategically located along Walton Boulevard with clear visibility and access to 24,000 vehicles passing by daily. The asset benefits from direct nearby access onto Interstate 75 (88,900 VPD), a major north-south route that connects the U.S. – Canada border to Miami, FL. Dollar Tree is ideally situated within a dense retail corridor and is within close proximity to both Great...

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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 : 7,832 54,911 155,163
2023 Total Population : 7,929 55,224 155,214
2023 Employed Civilian Pop : 3,572 24,539 74,550
2023 Total Businesses : 208 2,287 5,680
2023 Average Household Income : $ 61,360 $ 65,006 $ 94,694
2023 Total Consumer Spending : $ 160 M $ 1239 M $ 5169 M
2023 Median Age : 35 35 38
2023 Total Households : 2,975 21,643 62,737
2023 Pop Age 25+: Bachelor's Degree : 391 4,297 21,758
2023 Average Home Value : $ 144,806 $ 227,280 $ 302,325
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Columbia Avenue E Columbia Ave 2019 9,998 0.47 mi
0.4 MILE E OF BALDWIN (IN PONTIAC) Highwood St 2021 9,728 0.47 mi
0.3 MILE N OF WALTON (IN PONTIAC) Brooks Ave 2021 17,908 0.51 mi
E Walton Blvd Fuller St 2014 23,982 0.59 mi
Baldwin Ave W Brooklyn Ave 2012 20,290 0.65 mi
0.25 MILE E OF JOSLYN (IN PONTIAC) Fuller St 2021 19,072 0.66 mi
0.4 MILE N OF WALTON (IN PONTIAC) E Newport Ave 2021 24,479 0.70 mi
East Ann Arbor Avenue Baldwin Ave 2019 17,247 0.72 mi
BETWEEN COLUMBIA AND ANN ARBOR (IN PONTIAC) E Ann Arbor Ave 2021 18,229 0.73 mi
Baldwin Ave E Longfellow Ave 2011 20,000 0.78 mi

Listing Broker

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