Listed by ParaSell Inc, Sands Investment Group
$1,200,000
Dollar Tree - Creston, IA
Details
Property Type Retail
Sub Type Storefront
Square Footage 8,000
Cap Rate 7.5%
NOI $90,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar Tree
Lease Type NN
Lease Term 15.1
Lease Expiration 08/30/2031
Remaining Term 5.1
Rent Bumps Yes
Lease Options 1 x 5 Year Option
Price per SqFt $150
Year Built 2016
Acreage 1.540
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/07/2016
Ground Lease No
8,000 SF | Double Net (NN) | Dollar Tree Stores, Inc.
Marketing description
We are pleased to exclusively offer for sale the 8,000 SF Dollar Tree located at 801 Laurel Street in Creston, IA. This deal includes a Double Net (NN) Dollar Tree with minimal landlord responsibilities. The property is shadow anchored by Walmart and backed by a corporate guarantee from Dollar Tree stores, Inc. Dollar Tree recently executed a new lease extension, demonstrating a strong commitment to the location and providing additional confidence in the long-term income stream.
Investment highlights
- The property is a Walmart shadow anchored site and benefits from significant crossover traffic generated by one of the most powerful retail anchors in the country.
- A new lease extension through August, 2031 has been executed by Dollar Tree, demonstrating a strong commitment to the location.
- The property is strategically positioned in a dense retail trade area with a strong concentration of national and regional retailers including Walmart Supercenter, Tractor Supply, Hy-Vee, McDonald’s, Domino’s and Hardee’s, driving significant daily traffic to the immediate area.
- Minimal landlord responsibilities as the tenant is responsible for everything except roof and structure, delivering a near-passive ownership experience for investors.
- 2016 construction situated on a generous 1.54-acre parcel with ample parking and strong visibility along Laurel Street in Creston, IA.
- Corporate guaranteed lease backed by Dollar Tree Stores, Inc. (NASDAQ: DLTR), one of the largest discount retailers in the United States with over 9,200 locations nationwide, providing investors with a creditworthy guarantee behind the income stream.
Listing Contacts
Listed by ParaSell Inc, Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,000.00
$7,500.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
Map
Zoning
C-1 CommercialGeneral CommercialCommercial
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