Dollar Tree + Chase ATM! Priced at $120 PSF Below Cost!
15,550 SF | 3861 Auburn St Rockford, IL 61101
Marketing description
For a complete Offering Memorandum, please click on the left side under the property image. For additional details or to submit an offer, contact Ray Pardilla at 707-652-8363.
Rockford, Illinois, "#1" in Housing Markets Expected to Soar in 2025 with 10.89% Surge in Home Values
We are pleased to present a brand-new 10-year lease in a fully renovated Dollar Tree, located just 89 miles from Chicago. The property is Net Net Leased (NN), offering minimal landlord responsibilities, with potential tenant reimbursements as specified in the lease. The lease includes three five-year renewal options, with a $0.50 per square foot rental increase every five years, applicable during both the initial term and the renewal periods. This lease is corporately guaranteed by Dollar Tree, which holds an S&P "BBB" investment-grade rating.
Rent commenced on May 31, 2024, with the lease set to expire on May 31, 2034. This Family Dollar | Dollar Tree store is strategically positioned at the corner of North Central Ave. and Auburn St., next to high-traffic neighbors such as Walgreens and McDonald's, offering excellent visibility and foot traffic.
The extensively remodelled the property to the Tenants strict standards in 2023 and 2024 and includes a 15,550-square-foot building on a 1.79-acre lot, making it an ideal option for 1031 exchange buyers. The asking price for this investment is $1,732,147.
Additionally, the property includes an ATM lease expiring on January 31, 2025, with the tenant having occupied the location since 2006 and one three-year renewal option, featuring a 5% rent increase. The combined asking price for the Dollar Tree and ATM is $1,866,888 at an 8.38% CAP.
This investment offers both long-term stability and a strong return, making it an excellent choice for investors seeking a solid, corporate-backed lease in a prime retail location.
Investment highlights
Investment Grade Tenant – Dollar Tree (NASDAQ: DLTR) is S&P rated BBB.
Net Net Leased Property. Minimal landlord responsibilities!! (Complete Interior Remodel in 2024)
Long Term Corporate Lease – 10-year lease with Three (5-year) option periods (rent increases throughout the primary term and the option periods).
As of February 23, 2024, Dollar Tree has a market cap or net worth of $31.78 billion.
Perfect for 1031 exchange at a price of $1,866,888 and a very favorable cap rate of 8.38%.
Includes Chase Bank ATM
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