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Views: 34 DOM: 36 Updated: 04.24.24 Posted: 04.11.24 Status: Active

Summary

Price $1,642,857
Built/Renov 2023
Tenant Dollar Tree
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,000
Lease Start 01-01-2023
#Units 16,700
Price/SF $164.29
Expiration 01-01-2033
Tenant Type Dollar/Discount
NOI $115,000
R. Term 8.7
Ownership Fee Simple
Rent/SF $11.50
Increases 0.0%/0/yrs
Pop 5Mi 16,806
Lot/AC 2.01
Options 4/5yrs
AHHI 5Mi $75,669

Lease Highlights

  • Brand-new 2023 construction
  • Dollar Tree has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features $.50/PSF rental escalations at the start of each option period
  • Corporate guarantee | Investment grade tenant

Location Description

Dollar Tree is strategically located at the signalized, hard corner intersection of Cleburne Blvd. (Hwy 100) and Cypress Ave, the primary thoroughfare, with access to a combined daily traffic count of 18,302 vehicles. Adjacent to the property to the north is an Ethan Allen manufacturing facility, and less than a mile south of the property is a Walmart Supercenter, which serves as a major...

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Maps

  • 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 the leading operator of discount variety stores offering merchandise predominantly at the fixed price of $1.25. Founded in 1953, by K.R. Perry, the chain originated...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,620 8,745 16,939
2023 Total Population : 2,648 8,498 16,806
2023 Employed Civilian Pop : 973 3,485 6,949
2023 Total Businesses : 159 309 486
2023 Average Household Income : $ 76,127 $ 74,686 $ 75,669
2023 Total Consumer Spending : $ 55 M $ 223 M $ 472 M
2023 Median Age : 43 47 48
2023 Total Households : 819 3,388 7,060
2023 Pop Age 25+: Bachelor's Degree : 140 734 1,550
2023 Average Home Value : $ 376,445 $ 325,974 $ 308,767
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cypress Dr Cleburne Blvd 2012 680 0.03 mi
Cypress Drive Cleburne Blvd 2018 360 0.03 mi
Cleburne Blvd Cypress Dr 2016 16,000 0.05 mi
Colonial Dr Newbern Rd 2012 260 0.16 mi
Newbern Rd Town Center Dr 2012 3,300 0.17 mi
2018 760 0.19 mi
Town Center Drive 2012 1,400 0.19 mi
Town Center Drive Newbern Rd 2018 1,500 0.20 mi
Town Center Dr Newbern Rd 2012 2,400 0.20 mi
Cleburne Boulevard Harvest Pl 2020 13,000 0.21 mi

Listing Broker

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