Dollar Tree

26058 West 6 Mile Road, Redford, MI 48240

$1,435,117

Cap Rate 8.01%

Views: 23 DOM: 19 Updated: 04.30.24 Posted: 04.30.24 Status: Active

Summary

Price $1,435,117	Built/Renov 2016	Tenant Dollar Tree
Cap Rate 8.01%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 13,428	Lease Start 07-17-2016	#Units 16,700
Price/SF $106.87	Expiration 07-31-2026	Tenant Type Dollar/Discount
NOI $114,924	R. Term 2.2	Ownership Fee Simple
Rent/SF $8.55	Increases 0.0%/0/yrs	Pop 5Mi 275,746
Lot/AC 1.95	Options 3/5yrs	AHHI 5Mi $79,883

Josh Bishop

Matthews REIS

Contact

Lease Highlights

Dollar Tree has 2+ 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 6 Mile Road and Beach Day Road, with access to a combined daily traffic count of 41,000 vehicles. The property is surrounded by well-known national tenants, including Walgreens, Dairy Queen, Burger King, AutoZone, and more. Additionally, nearby educational institutions include Beth El Memorial Park, Beck Center...

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Key Features

Signalized intersection
Roof guarantee
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Redford, Michigan Zip Code 48240 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 :	14,992	97,930	275,338
2023 Total Population :	15,183	99,545	279,323
2023 Employed Civilian Pop :	7,406	46,994	128,476
2023 Total Businesses :	184	2,753	8,511
2023 Average Household Income :	$ 78,716	$ 75,038	$ 80,709
2023 Total Consumer Spending :	$ 415 M	$ 2732 M	$ 8049 M
2023 Median Age :	41	41	42
2023 Total Households :	6,040	41,714	114,537
2023 Pop Age 25+: Bachelor's Degree :	1,768	11,313	36,540
2023 Average Home Value :	$ 152,091	$ 178,954	$ 196,099

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 6 Mile Rd	Centralia	2009	16,980	0.12 mi
Beech Daly Rd	6 Mile Svc Rd	2004	21,380	0.17 mi
Beech Daly Rd	Grove St	2002	33,186	0.22 mi
Beech Daly Rd	Santa Maria	2002	26,723	0.22 mi
West 6 Mile Road	Olympia	2022	12,883	0.25 mi
W 6 Mile Rd	Lexington	2009	16,980	0.31 mi
Beech Daly Rd	Pomona Dr	2002	33,186	0.52 mi
Beech Daly Rd	Curtis St	2004	21,914	0.55 mi
Santa Maria Avenue		2019	340	0.72 mi
Salem Street		2019	1,210	0.75 mi

Listing Broker

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