Listed by Matthews
$876,000
Dollar Tree - Decatur, TN
Details
Property Type Retail
Sub Type Grocery Store, Storefront
Square Footage 9,180
Net Rentable (SqFt) 9,180
Cap Rate 8.00%
NOI $69,951
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree
Lease Type NN+
Lease Term 10
Lease Expiration 06/30/2027
Remaining Term 1
Rent Bumps Yes
Lease Options Two (2), 5-years
Price per SqFt $95
Year Built 2006
Year Renovated 2018
Acreage 1.700
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/01/2007
Ground Lease No
$876k | Chattanooga MSA | Grocery Outparcel 21% Rent Increase
Investment highlights
- High Growth Market | Chattanooga MSA | Low Cost of Living: Located along the Tennessee River & just outside of Chattanooga, Decatur has experienced unprecedented population growth & bolsters an astounding 5.36% growth rate since 2020.
- History of Operation Success & Renewals | Strong Store Performance: Having operated at this location for more than 2 decades, Dollar Tree has exercised multiple lease renewals & remains committed to operational success at this location.
- Above-Market Rental Increases: Investors capitalize on a 21% rental increase with the next renewal & a 10% rental increase with the following option to renew.
- Investment Grade Credit | Corporate Guarantee | Publicly-Traded Company: Dollar Tree, Inc. (NASDAQ: DLTR), rated BBB by S&P, operates over 16,000 stores nationwide with more than 150,000 employees and reported $30.6 billion in annual revenue; ranked #143 on the 2024 Fortune 500 list.
- Below Market Rent: Current rental rate is below the average Dollar Tree rates & allows investors the ability to increase returns in the future.
- Recent Construction & Renovations: Dollar Tree’s long operating history at this location is a testament to the performance. Their recent investments in the building show long-term future commitment to the site as well.
- Landlord Friendly Lease Structure: Landlord is only responsible for the roof & structure. Tenant is responsible for taxes, insurance, CAM, HVAC, parking lot, etc.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$69,951.00
$5,829.25/mo
Valuation Metrics
0
DSCR
7.99%
Cap Rate
7.99%
ROI
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