Dollar Tree Anchored Strip Center - $84 P/SF
Retail | 7.75% CAP | 20,086 SqFt | $84/SF
Marketing description
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StripCenters.com is pleased to present a 100% fee simple strip center, anchored by Dollar Tree in Galax, VA. This offering is comprised of 3 tenants on a single parcel; home to an 11,000 SF Dollar Tree, a 7,627 SF Physical Therapy Solutions (PT Solutions) and the remaining 1,459 SF occupied by Blue Ridge Nail Salon.
Investment highlights
Three Reasons to Own this Property:
1. Replaceable Rent: Your Dollar Tree Strip Center has the lowest rent/SF of the 17 tier-two strip centers currently on the market in Virginia, paying $7.31/SF. Of the 912 tier-two strips on the market nationally, your Dollar Tree Strip ranks #888/912, falling in the bottom 3% of rent/SF nationally.
2. Well Below Replacement Value: Your Dollar Tree Strip is priced at $1.682m, which amounts to a purchase price of $84/SF. To build a center like this today would cost well over $84/SF, leading to a purchase price below replacement value for this center.
3. Investment Grade Credit: Your shopping center is anchored by Dollar Tree, a Fortune 500 company and an investment grade credit tenant, rated BBB by S&P Global Ratings, currently operating more than 16,000 stores across all 50 states and Canada. This credit is complemented by PT Solutions, a 550-unit physical therapy operator serving 5 million patients annually across the nation.
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