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Views: 46 DOM: 68 Updated: 04.15.24 Posted: 03.12.24 Status: Active

Summary

Price $2,177,000
Built/Renov 2024
Tenant Dollar Tree
Cap Rate 6.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,500
Lease Start 05-13-2023
#Units 16,700
Price/SF $207.33
Expiration 04-30-2034
Tenant Type Dollar/Discount
NOI $147,000
R. Term 9.11
Ownership Fee Simple
Rent/SF $14.00
Increases 0.0%/0/yrs
Pop 5Mi 21,795
Lot/AC 1.23
Options 4/5yrs/3.5%
AHHI 5Mi $82,776

Lease Highlights

  • Brand-new 2024 construction
  • Dollar Tree will be executing a brand-new 10-year lease with 4 (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 Indiana State Road 67, a two-lane highway with access to 10,447 vehicles passing by daily. The property ensures easy accessibility and boasts excellent visibility. Furthermore, this prime location benefits from limited competition from discount and grocery stores in the area. Additionally, Pendleton Heights High School is located 0.8 miles away, while...

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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 : 3,023 11,833 22,519
2023 Total Population : 2,954 11,705 22,510
2023 Employed Civilian Pop : 1,542 4,388 9,342
2023 Total Businesses : 247 422 638
2023 Average Household Income : $ 109,171 $ 105,900 $ 94,405
2023 Total Consumer Spending : $ 117 M $ 338 M $ 632 M
2023 Median Age : 42 39 40
2023 Total Households : 1,259 3,735 7,757
2023 Pop Age 25+: Bachelor's Degree : 566 1,586 2,715
2023 Average Home Value : $ 239,044 $ 242,178 $ 227,150
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pendleton Ave 2021 13,631 0.03 mi
SR 9;SR 38;SR 67 Water St 2021 13,631 0.15 mi
9 Plz Dr 2020 13,379 0.15 mi
State Rd 9 S Cross St 2010 14,100 0.15 mi
US Hwy 36 S 300 W 2018 7,777 0.23 mi
E 700 S Brown StRd 2021 7,538 0.23 mi
E Water St W Central Way 2014 2,104 0.29 mi
Falls Park Dr Market St 2008 1,664 0.31 mi
E 700 S E State St 2021 17,164 0.34 mi
East Water Street Hayden Way 2021 3,675 0.40 mi

Listing Broker

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