Listed by Marcus & Millichap - Manhattan
$1,300,000
DOLLAR TREE - ADJACENT TO HOSPITAL - NEW ROOF
Details
APN 1405500
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 10,980
Units 1
Cap Rate 6.76%
NOI $87,840
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar Tree
Lease Type NN+
Lease Term 10.1
Lease Expiration 02/27/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options 2, 5-Year
Class A
Year Built 1998
Year Renovated 2026
Lot Size (SqFt) 43,560
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 01/31/2024
Ground Lease No
High Traffic Location - Replaceable Rent
Investment highlights
- North Carolina Dollar Tree with Minimal Maintenance: Net Leased Dollar Tree w/ Minimal Management Favorably Positioned in Wilkesboro, North Carolina and Featuring a Brand New Roof with Extended Warranty Providing Enhanced Asset Durability
- Rare Hospital Anchored Site Bolstering Consumer Activity: Located Within Walking Distance of Wilkes Medical Center, a 130-Bed Hospital Operating Since 1952 Making This Dollar Tree One of the Most Uniquely and Strongly Situated in the National Marketplace
- Ideal Net Leased Investment w/ Low, Replaceable Rent: With Average Dollar Tree Rent at +/- $132,000, This Asset Features Well Below Market Rent at $87,840 Satisfying One of the Most Critical Elements of a High Quality Net Leased Investment
- Long Term Lease with Large 12.5% Rent Increases: Lease Currently Features Nearly 8 Years Remaining in the Initial Term w/ Large 12.5% Rent Increases in Each Option to Hedge Against Inflation Making This an Attractive Passive Investment
- Fortified Corporate Lease Guarantee: Lease Corporately Guaranteed by Dollar Tree,
- a Leading Dollar Store Chain with Over 9,000 Locations Nationally for Enhanced Income
- Stream Reliability
- Exceptional Dollar Store Demographics: Situated in an Area w/ Over 27,000 People Living Within a 5-Mile Radius and an Average Annual Household Income Exceeding $66,000 Targeting Ideal Dollar Store Consumers
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$87,840.00
$7,320.00/mo
Valuation Metrics
0
DSCR
6.76%
Cap Rate
6.76%
ROI
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