Dollar Tree

2707 East Sangamon Avenue, Springfield, IL 62702

$1,100,000

Cap Rate 7.50%

Views: 22 DOM: 19 Updated: 04.30.24 Posted: 04.30.24 Status: Active

Summary

Price $1,100,000	Built/Renov 2017	Tenant Dollar Tree
Cap Rate 7.50%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 11,000	Lease Start 05-17-2017	#Units 16,700
Price/SF $100.00	Expiration 01-31-2034	Tenant Type Dollar/Discount
NOI $82,500	R. Term 9.8	Ownership Fee Simple
Rent/SF $7.50	Increases 0.0%/0/yrs	Pop 5Mi 88,476
Lot/AC 0.93	Options 3/5yrs	AHHI 5Mi $63,114

Josh Bishop

Matthews REIS

Contact

Lease Highlights

Dollar Tree has 9+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features $0.50/PSF 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 at the signalized, hard corner intersection of E Sangamon Avenue and Dirksen Pkwy, with a combined daily traffic count of 43,000 vehicles. The property is surrounded by well-known national tenants, including Walmart, Lowes McDonald’s, ADLI, Wells Fargo, Wendy’s, and more. The 5-mile trade area is supported by a population of 88,476 residents with an average...

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Key Features

Signalized intersection
Dense retail corridor
Near major nationals
Strategically located
Freeway close
Recently extended lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Springfield, Illinois Zip Code 62702 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Dollar Tree
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:16,700
Tenant S&P: BBB
Moody’s: Baa2
Stock: NASDAQ: DLTR

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 :	8,035	33,891	84,798
2023 Total Population :	8,116	34,243	85,857
2023 Employed Civilian Pop :	4,065	14,588	39,363
2023 Total Businesses :	221	1,942	4,112
2023 Average Household Income :	$ 74,165	$ 58,737	$ 72,415
2023 Total Consumer Spending :	$ 239 M	$ 786 M	$ 2436 M
2023 Median Age :	43	40	39
2023 Total Households :	3,736	15,259	38,477
2023 Pop Age 25+: Bachelor's Degree :	733	2,208	9,282
2023 Average Home Value :	$ 132,608	$ 120,499	$ 164,400

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Sangamon Av	Hastings Rd	2021	16,600	0.03 mi
Stonehenge Rd	Selkirk Rd	2017	1,100	0.20 mi
Scarbrough Rd	Selkirk Rd	2017	600	0.26 mi
Henley Road	Sandgate Rd	2022	2,100	0.27 mi
Stonehenge Road	Cardigan Dr	2022	1,150	0.28 mi
Scarbrough Road	Sutherland Rd	2022	650	0.29 mi
North Darby Road	E Sangamon Ave	2022	800	0.29 mi
	Darby Rd	2022	650	0.31 mi
Stonehenge Rd	Lyn St	2017	1,050	0.33 mi
E Sangamon Ave	Cromarty	2017	18,400	0.35 mi

Listing Broker

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