BRAND NEW DOLLAR TREE | FAMILY DOLLAR | 707 2nd Ave
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BRAND NEW DOLLAR TREE | FAMILY DOLLAR 707 2nd Ave
10,500 SF Retail Building Sibley, IA 51249 £1,161,714 (£111/SF) 7.85% Net Initial Yield
Investment Highlights
- Dual Concept Stores See a 20% Increase in Revenue
- 2023 BTS Construction | Opened in December 2023
- Across From a Casey's & Gas Station
- 10 Year NN Lease Requiring Minimal Landlord Responsibilities
- Four (5 Year) Options | $0.50 PSF Rental Rate Increase
- Investment Credit Tenant | Standard & Poor's: 'BBB-'
Executive Summary
We are pleased to present this 10,500 SF. freestanding Family Dollar | Dollar Tree, dual concept store located in Sibley, Iowa. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store has completed construction & successfully opened for business in December 2023!
This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned between 1st Avenue & 2nd Avenue which sees 4,414 cars per day. With 3 ingress/egress points, the store is easily accessible from either street. It sits across the street from a Casey's & gas station. The ten mile population from the site is 5,802 while the three mile average household income is $74,225 per year, making this location ideal for a Family Dollar | Dollar Tree store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar | Dollar Tree store. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of t he nation’s top dollar stores. List price reflects a 7.85 % cap rate based on NOI of$116,550.
This Family Dollar | Dollar Tree store is highly visible as it is strategically positioned between 1st Avenue & 2nd Avenue which sees 4,414 cars per day. With 3 ingress/egress points, the store is easily accessible from either street. It sits across the street from a Casey's & gas station. The ten mile population from the site is 5,802 while the three mile average household income is $74,225 per year, making this location ideal for a Family Dollar | Dollar Tree store. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Family Dollar | Dollar Tree store. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, one of t he nation’s top dollar stores. List price reflects a 7.85 % cap rate based on NOI of$116,550.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,500 SF
Year Built
2023
Price
£1,161,714
Price Per SF
£111
Net Initial Yield
7.85%
NOI
£91,195
Tenancy
Single
Number of Floors
1
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BRAND NEW DOLLAR TREE | FAMILY DOLLAR | 707 2nd Ave
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