Dollar Tree

2700 West Kenosha Street, Broken Arrow, OK 74012

$2,238,805

Cap Rate 6.70%

Views: 18 DOM: 19 Updated: 04.30.24 Posted: 04.30.24 Status: Active

Summary

Price $2,238,805	Built/Renov 2023	Tenant Dollar Tree
Cap Rate 6.70%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 10,000	Lease Start 10-01-2023	#Units 16,700
Price/SF $223.88	Expiration 10-30-2033	Tenant Type Dollar/Discount
NOI $150,000	R. Term 9.5	Ownership Fee Simple
Rent/SF $15.00	Increases 0.0%/0/yrs	Pop 5Mi 206,945
Lot/AC 1.29	Options 4/5yrs	AHHI 5Mi $92,398

Josh Bishop

Matthews REIS

Contact

Lease Highlights

Brand-new 2023 construction
Dollar Tree has 9+ years remaining on the current lease term with 4 (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 | 20 year roof warranty
Corporate guarantee | Investment grade tenant

Location Description

Dollar Tree is strategically located at the signzalized, hard corner intersection of Kenosha Street and Aspen Avenue, with access to a combined daily traffic count of 44,000 vehicles. The property is surrounded by well-known national tenants, including Arby’s, Subway, Sonic, Aldi, McDonald's, and more. The 5-mile trade area is supported by a population of 206,945 residents with an average...

...

Key Features

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

...

Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Broken Arrow, Oklahoma Zip Code 74012 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,142	77,450	219,510
2023 Total Population :	7,037	75,376	215,063
2023 Employed Civilian Pop :	3,828	40,190	111,646
2023 Total Businesses :	567	4,193	9,307
2023 Average Household Income :	$ 100,528	$ 94,699	$ 91,370
2023 Total Consumer Spending :	$ 225 M	$ 2411 M	$ 6675 M
2023 Median Age :	37	37	36
2023 Total Households :	2,638	29,593	84,619
2023 Pop Age 25+: Bachelor's Degree :	1,138	13,316	35,709
2023 Average Home Value :	$ 210,038	$ 241,472	$ 243,688

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Kenosha Street	E 71st St	2021	17,900	0.02 mi
E 71st St S	N Elder Pl	2015	20,631	0.27 mi
E 71st St S	Kalanchoe Ave	2015	17,969	0.28 mi
N Aspen Ave	W Greeley St	2015	25,992	0.52 mi
N Aspen Ave	Lansing Ave	2015	26,211	0.53 mi
E 2nd St	W Greeley St	2015	11,798	0.54 mi
S Fir Ave	W Broadway Ct	2015	1,100	0.56 mi
E 71st St S	N Sycamore St	2015	20,323	0.57 mi
N Olive St	E 68th Ave	2015	13,540	0.57 mi
E 71st St S	N Sweet Gum Ave	2015	22,509	0.65 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT