Dollar Tree | 612 2nd Ave SW
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Dollar Tree 612 2nd Ave SW
10,000 SF 100% Leased Office Building Cresco, IA 52136 £1,505,541 (£151/SF) 7.25% Net Initial Yield
Investment Highlights
- Brand-New 2024 Build-to-Suit Construction
- Dollar Tree Earnings Per Share up 1.5%¦Same Store Sales up 8.7%
- Five, Five-Year Renewal Options | Rent Increases in Each of the Options After the First Option Period
- Original 10-Year Lease ¦ Full Term Remaining | Estimated Delivery 3/4/2024
- Modified Triple Net Lease | Landlord Responsible for the Roof & Structure
- Dollar Tree Plans to Open 650+ New Locations in 2023 | Almost 200 More than the 450+ the Company Opened in 2022
Executive Summary
Marcus & Millichap is pleased to present the Dollar Tree located in Cresco, Iowa.The 10,000 square foot Dollar Tree store will be build-to-suit construction in 2023. The property is located right off of North Elm Street and is passed by nearly 6,000 vehicles every day. The
location is positioned in a dense retail corridor including both national and local tenants. Retail traffic drivers include Fareway
Meat and Grocery, Ace Hardware, Super 8 Hotel, Bomgaars, HyVee Grocery Store, A&W Restaurant, Casa De Oro, and more. The Tenant signed an original 10-year lease with no early termination clauses leaving the full lease term remaining for an incoming investor. The lease is considered modified triple net, with the landlord being responsible for the roof and structure and the tenant reimbursing for all expenses including the common area maintenance, taxes, and property insurance. There are five, fiveyear renewal options available, each of which having a rent increase scheduled, except for in the first option. Dollar Tree was founded in 1986 and in 34 years has grown to more
than 16,200 locations across 48 states and Canada. The tenant continues its impressive earnings and growth performance with an
expected 650 stores opening in 2023. The company is publicly traded on the NASDAQ under the ticker “DLTR” and carries an investment credit rating of “BBB-” from S&P.
location is positioned in a dense retail corridor including both national and local tenants. Retail traffic drivers include Fareway
Meat and Grocery, Ace Hardware, Super 8 Hotel, Bomgaars, HyVee Grocery Store, A&W Restaurant, Casa De Oro, and more. The Tenant signed an original 10-year lease with no early termination clauses leaving the full lease term remaining for an incoming investor. The lease is considered modified triple net, with the landlord being responsible for the roof and structure and the tenant reimbursing for all expenses including the common area maintenance, taxes, and property insurance. There are five, fiveyear renewal options available, each of which having a rent increase scheduled, except for in the first option. Dollar Tree was founded in 1986 and in 34 years has grown to more
than 16,200 locations across 48 states and Canada. The tenant continues its impressive earnings and growth performance with an
expected 650 stores opening in 2023. The company is publicly traded on the NASDAQ under the ticker “DLTR” and carries an investment credit rating of “BBB-” from S&P.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Building Size
10,000 SF
Building Class
C
Year Built
2024
Price
£1,505,541
Price Per SF
£151
Net Initial Yield
7.25%
NOI
£109,152
Percent Leased
100%
Number of Floors
1
Typical Floor Size
10,000 SF
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PROPERTY TAXES
| Parcel Number | 321-21-00-04-050-000 | Improvements Assessment | £49,357 (2024) |
| Land Assessment | £36,736 (2024) | Total Assessment | £86,093 (2024) |
PROPERTY TAXES
Parcel Number
321-21-00-04-050-000
Land Assessment
£36,736 (2024)
Improvements Assessment
£49,357 (2024)
Total Assessment
£86,093 (2024)
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Dollar Tree | 612 2nd Ave SW
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