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Views: 92 DOM: 182 Updated: 11.08.24 Posted: 06.22.24 Status: Active

Summary

Price $2,140,000
Built/Renov 2023
Tenant Dollar Tree
Cap Rate 5.61%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 9,600
Lease Start 02-09-2023
#Units 16,700
Price/SF $222.92
Expiration 02-08-2033
Tenant Type Dollar/Discount
NOI $120,000
R. Term 8.1
Ownership Fee Simple
Rent/SF $12.50
Increases 10.0%/8/yrs
Pop 5Mi 96,904
Lot/AC 0.99
Options 3/5yrs/10%
AHHI 5Mi $139,183

Lease Highlights

  • New 2023 construction
  • Dollar Tree has 8 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar Tree is strategically located on W Indian School Road, a major retail thoroughfare, with access to 11,100 vehicles passing by daily. The property is positioned within Jackrabbit Ranch Marketplace, a shopping center anchored by Goodwill. Additionally, it is across the road from Village Grove at Verrado, a shopping center with well-known national tenants including Fry’s Electronics,...

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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
2029 Total Population : 8,507 49,399 112,497
2024 Total Population : 7,250 46,025 100,208
2024 Employed Civilian Pop : 3,502 21,080 46,557
2024 Total Businesses : 66 372 737
2024 Average Household Income : $ 154,443 $ 163,399 $ 144,962
2024 Total Consumer Spending : $ 310 M $ 1959 M $ 4067 M
2024 Median Age : 43 40 39
2024 Total Households : 2,371 13,946 32,382
2024 Pop Age 25+: Bachelor's Degree : 979 6,866 14,875
2024 Average Home Value : $ 587,873 $ 630,444 $ 575,589
*ESRI data is presented for informational purposes only

Listing Broker

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