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Views: 40 DOM: 68 Updated: 04.15.24 Posted: 03.12.24 Status: Active

Summary

Price $1,992,857
Built/Renov 2023
Tenant Dollar Tree
Cap Rate 7.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,000
Lease Start 03-04-2024
#Units 16,700
Price/SF $199.29
Expiration 02-28-2034
Tenant Type Dollar/Discount
NOI $139,500
R. Term 9.9
Ownership Fee Simple
Rent/SF $13.95
Increases 0.0%/0/yrs
Pop 5Mi 4,887
Lot/AC 0.82
Options 5/5yrs/3.5%
AHHI 5Mi $75,009

Lease Highlights

  • Brand-new 2024 construction
  • Dollar Tree recently executed a brand-new 10-year lease with 5 (5-year) options to extend
  • The lease features 3.5% rental escalations 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 2nd Avenue SW, with access to 7,500 vehicles passing by daily. The property is situated in a dense retail corridor featuring both national and local tenants, including Fareway Meat and Grocery, Ace Hardware, Super 8 Hotel, Bomgaars, Hy-Vee Grocery Store, A&W Restaurant, and more. Additionally, it is conveniently located 0.2 miles from Regional Health...

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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 : 3,060 4,474 4,924
2023 Total Population : 3,053 4,470 4,930
2023 Employed Civilian Pop : 1,653 2,445 2,712
2023 Total Businesses : 233 287 295
2023 Average Household Income : $ 71,198 $ 76,010 $ 77,240
2023 Total Consumer Spending : $ 88 M $ 132 M $ 147 M
2023 Median Age : 40 42 42
2023 Total Households : 1,378 1,939 2,122
2023 Pop Age 25+: Bachelor's Degree : 305 488 529
2023 Average Home Value : $ 126,649 $ 143,938 $ 151,968
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
IA 9 7th St SW 2020 1,125 0.02 mi
2nd Avenue Southwest 7th St SW 2022 4,960 0.03 mi
7th St SW 2nd Ave SW 2017 1,350 0.06 mi
7th St SW 2nd Ave SW 2017 750 0.08 mi
5th St W 5th St SW 2009 400 0.15 mi
2nd Ave W 5th St W 2009 660 0.25 mi
2nd Ave SW 4th St SW 2017 6,400 0.25 mi
Vernon Rd 4th Ave SW 2017 1,080 0.26 mi
3rd St SW Grove Ave 2017 2,590 0.30 mi
7th St W 3rd Ave W 2009 1,400 0.30 mi

Listing Broker

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