Dollar Tree

7041 East 21st Street, Indianapolis, IN 46219

$1,438,849

Cap Rate 6.95%

DOM: 70 Updated: 03.25.24 Posted: 11.15.23 Status: Sold 01.24.24

Summary

Price $1,438,849	Built/Renov 2021	Tenant Dollar Tree
Cap Rate 6.95%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 10,000	Lease Start 02-27-2021	#Units 8,134
Price/SF $143.88	Expiration 02-28-2031	Tenant Type Dollar/Discount
NOI $100,000	R. Term 5.9	Ownership Fee Simple
Rent/SF $10.00	Increases 0.0%/3/yrs	Pop 5Mi 225,698
Lot/AC 1.04	Options 3/5yrs	AHHI 5Mi $70,087

Josh Bishop

Matthews REIS

Contact

Lease Highlights

2021 build-to-suit construction
Dollar Tree has 7+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features $0.50/SF escalations every 5 years throughout the initial term and at the start of each option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Dollar Tree is strategically located on E. 21st St. which sees 14,000+ vehicles passing by daily. It is also within close proximity to both Interstate 70 (127,000+ VPD) and Interstate 465 (182,000+ VPD). Nearby national retailers include McDonald’s, Starbucks, Subway, Kroger, At Home, and many others, creating a strong draw to the trade area. There are 225,698 residents, earning an average...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway close
Dense 200M+ pop 5 mi
Top 100 MSA
Favorable NN+ lease
Traded and rated company
Corporate Guarantee

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Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Indianapolis, Indiana Zip Code 46219 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:8,134
Tenant S&P: BBB
Moody’s: Baa2
Stock: NASDAQ: DLTR

About Tenant

Dollar Tree (NASDAQ: DLTR) ranked 137 on the Fortune 500 list, is a leading operator of discount variety stores. The company is the leading operator of discount variety stores offering merchandise...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,176	86,437	231,841
2023 Total Population :	8,262	87,248	231,707
2023 Employed Civilian Pop :	3,182	40,079	106,663
2023 Total Businesses :	286	2,793	6,018
2023 Average Household Income :	$ 54,751	$ 61,474	$ 65,634
2023 Total Consumer Spending :	$ 174 M	$ 1945 M	$ 5367 M
2023 Median Age :	42	38	37
2023 Total Households :	3,601	35,966	92,968
2023 Pop Age 25+: Bachelor's Degree :	676	9,069	23,258
2023 Average Home Value :	$ 124,542	$ 167,855	$ 189,314

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Shadeland Avenue	E 21st St	2021	34,809	0.06 mi
N Shadeland Ave	Wadsworth Way	2017	32,674	0.08 mi
N Shadeland Ave	E 21st St	2010	31,835	0.09 mi
70	Shadeland Rd	2020	59,489	0.16 mi
	Shadeland Rd	2021	78,375	0.19 mi
E 21st St	Marianne Ave	2006	18,305	0.21 mi
Marianne Avenue	E 21st St	2021	13,599	0.22 mi
North Shadeland Avenue	I- 70	2018	29,591	0.23 mi
North Shadeland Avenue	E 21st St	2021	21,375	0.23 mi
I 70	E 25th St	2021	104,710	0.24 mi

Listing Broker

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