Dollar Tree
Retail | 7.25% CAP | 10,000 SqFt
Marketing description
Tenant just recently signed a new 10-year extension with over 11 years remaining and 1 (5-year) option to extend. The lease features $0.50/SF increases every five years and at the beginning of the option, growing NOI and hedging against inflation. Store is undergoing a "paint & powder" refresh and ranks 91st Percentile within a 50-mile radius (#5 of 45 stores) and 78th percentile in North Carolina (#70 of 328 stores) according to Placer.AI. This is an NN Lease with Fee Simple Ownership and limited landlord responsibilities. Tenant pays for utilities, taxes, insurance and maintains all aspects of the premises. Landlord responsibilities are limited to roof, structure, floor slab and foundation, making it an ideal, low-management investment for a passive investor.
Investment highlights
- Tenant just recently signed a new 10-year extension
- Over 11 years remaining with 1 (5-year) option to extend
- The lease features $0.50/SF increases every five years and at the beginning of the option, growing NOI and hedging against inflation
- Store is undergoing a "paint & powder" refresh
- 91st Percentile within a 50-mile radius (#5 of 45 stores) and 78th percentile in North Carolina (#70 of 328 stores) - (Placer.AI)
- Tenant pays for utilities, taxes, insurance and maintains all aspects of the premises
- Landlord responsibilities limited to roof, structure, floor slab and foundation
- Ideal, low-management investment for a passive investor
- The subject property is located along Blowing Rock Blvd, a major retail road, that averages 30,500 vehicles passing by daily
- The site is ideally located in a dense retail corridor with numerous nearby national/credit tenants including Walmart Supercenter, Aldi, CVS, Walgreens, Dunkin', Anytime Fitness and more
- Strong tenant synergy increases consumer draw to the trade area and promotes crossover store exposure to the site
- More than 28,000 residents and 14,000 employees support the trade area
- $69,745 average household income
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