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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
24242489
24242488

2707 E Sangamon Ave, Springfield, IL 62702

SL
TX 790608
Matthews
JB
TX 688810
Matthews
Listed by Matthews
$1,031,250
343 days on market
Updated 58 days ago

Dollar Tree | Springfield IL | 9 YEARS REMAINING

Details
Property Type Retail
Sub Type Convenience Store, Grocery Store (+1)
Cap Rate 8%
NOI $82,500
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree (+1)
Lease Type NN+
Lease Term 16
Lease Expiration 01/31/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options Three, 5-year options
Year Built 2017
Buildings 1
Stories 1
Acreage 0.930
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/16/2017
Ownership Fee Simple

RECENT 10-YEAR LEASE EXTENSION | TRAFFIC COUNTS EXCEED +43,000 VPD

Investment highlights

LEASE & LOCATION HIGHLIGHTS

• 2017 retrofit for Dollar Tree

• Dollar Tree recently extended their lease early to a full 10-year term, proving their commitment to the location and market

• Corporately guaranteed lease

• Three, 5-Year renewal options all of which include a $.50/SF rent increase

• 5-Mile population of 88,476 residents

• Average household income of $69,505 annually

• Traffic counts exceed +43,000 at the intersection of Dirksen Pkwy & E Sangamon Rd

• Local retail tenants include Walmart, Lowes McDonald’s, ADLI, Wells Fargo, AARON’s KFC, Wendy’s, and many more

TENANT HIGHLIGHTS

• Dollar Tree acquired Family Dollar in 2015 and they are considered to be the second largest discount retailer in the United States with more than 16,000 locations

• Family Dollar is one of the few retailers that thrived through the COVID pandemic and witnessed a sharp increase in same store sales / profitability

• Investment Grade Credit Tenant – S&P Rated BBB

Listing Contacts

SL
TX 790608
Matthews
JB
TX 688810
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$82,500.00
$6,875.00/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Matthew M. Fitzgerald
License
License NO. 478027547, 471021676 (IL)
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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