Dollar Tree

425 Tennessee Avenue, Etowah, TN 37331

$840,000

Cap Rate 8.10%

$850,000

Cap Rate 8.00%

DOM: 151 Updated: 07.19.24 Posted: 11.18.23 Status: Sold 04.17.24

Summary

Price $840,000 $850,000	Built/Renov 1998	Tenant Dollar Tree
Cap Rate 8.10% 8.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 8,232	Lease Start 05-01-2023	#Units 8,134
Price/SF $102.04 $103.26	Expiration 04-30-2028	Tenant Type Dollar/Discount
NOI $68,000	R. Term 2.11	Ownership Fee Simple
Rent/SF $8.26	Increases 5.9%/5/yrs	Pop 5Mi 10,404
Lot/AC 0.92	Options 5/5yrs/5.9%	AHHI 5Mi $98,921

Matt Nadler

Horvath & Tremblay: MA

Contact

Lease Highlights

Dollar Tree recently signed a brand new 5-year lease with 4 (5-year) options
Lease features 5.9% rental escalation at the start of option 1, with remaining options decreasing by 3% each renewal
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Dollar Tree is situated along Tennessee Avenue (US Route 411), the area’s primary commercial and commuter corridor. On average, more than 10,400 vehicles pass the property daily along Tennessee Avenue (US Route 411). Dollar Tree enjoys excellent visibility and frontage and is just seconds from the intersection with Mecca Pike (TN Route 310), a major commuter corridor connecting Etowah with...

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Key Features

Dense retail corridor
Near major nationals
Strategically located
Highway location
Affluent suburb location
Brand new lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Dollar Tree Wikipedia Dollar Tree Wikipedia Etowah, Tennessee Zip Code 37331 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 :	3,154	7,460	11,187
2023 Total Population :	3,084	7,195	10,750
2023 Employed Civilian Pop :	1,190	2,726	4,027
2023 Total Businesses :	110	190	231
2023 Average Household Income :	$ 68,608	$ 78,843	$ 81,399
2023 Total Consumer Spending :	$ 78 M	$ 207 M	$ 321 M
2023 Median Age :	45	47	47
2023 Total Households :	1,270	2,933	4,390
2023 Pop Age 25+: Bachelor's Degree :	191	526	928
2023 Average Home Value :	$ 165,929	$ 182,334	$ 198,798

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mecca Pike	Tennessee Ave	2022	2,521	0.42 mi
US 411;SR 30	Toomey St	2021	11,955	0.44 mi
Tennessee Avenue	David W Lillard Memorial Hwy	2022	12,806	0.44 mi
Mecca Pike	Tennessee Ave	2003	4,990	0.51 mi
TENNESSEE AVE.	Toomey St	2020	11,257	0.53 mi
Old Mecca Pike Spr	Luther Jack Rd	2022	91	0.63 mi
8th Street	Scott Ave	2022	2,014	0.76 mi
EIGHT ST.	Scott Ave	2021	1,959	0.76 mi
David W Lillard Memorial Highway	Williamsburg Rd	2022	8,633	1.26 mi
SR 30	Williamsburg Rd	2021	8,694	1.26 mi

Listing Broker

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