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Dollar Tree | Renovated in 2021 | Greenville - Anderson MSA

9710 SC-81, Iva, SC 29655

Listing Price: $1,381,818

Cap Rate
5.50%
Tenant Name
Dollar Tree Stores, Inc.
Years Remaining On Lease
9.6
Gross SF
16,000
Guarantor
Corporate Guarantee
Rentable SF
16,000
Price/Gross SF
$86.36
Lease Type
Double Net
Rent Per Square Feet
$4.75

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the newly refitted Dollar Tree located in the Greenville-Anderson MSA. The freestanding retail building was renovated in 2021 and totals 16,000 square-feet, fully leased to Dollar Tree. The subject property rests on approximately 2.82 acres featuring a newly repaved parking lot. Dollar Tree is on a long-term, NN lease with approximately 9.75 years of term remaining with $0.50/SF rent escalations occurring each option period and features a corporate guarantee. The subject property is primely positioned on Highway 81 South (6,000 VPD) and is immediately surrounded by other national retailers including O’Reilly Auto Parts, Shell, Subway, Dollar General. Additionally, the property is situated directly across from the Iva Fire Department. The upstate region of South Carolina is located in the northwesternmost portion of the state. It is also known as the Greenville-Spartanburg-Anderson combined statistical area, consisting of 10 counties: Anderson, Greenville, Laurens, Pickens, Spartanburg, Union, Cherokee, Abbeville, Greenwood and Oconee. The area is home to 1.5 million residents. Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms. The county seat and most populous city is Greenville, with roughly 70,000 residents. Additional portions of the metro are known for manufacturing and a variety of other industries.

Investment Highlights

  • Newly Refitted/Renovated in 2021 | 100% Leased to Dollar Tree | Corporate Guarantee | Formerly a Fred's Super Dollar
  • Original NN Lease | Four, 5-Year Options to Renew with $0.50/SF Rent Escalations Occurring Each Period | Approx. 9.75 Years of Term Remaining | Minimal Landlord Responsibilities
  • Dollar Tree is a Fortune 500 Tenant with Investment Grade Credit BBB (S&P) | Baa2 (Moody's)
  • Strong Average Household Income | Over $65,000 within 1-Mile Radius of Property | Ideally Located on Highway 81 (6,000+ VPD) | Directly Across from Iva Fire Department
  • Located Less than 15 Miles of Anderson | 45 Miles of Greenville | 50 Miles of Athens, GA | Tenant has Right of First Refusal

Exclusively Listed By

Discount

Dollar Tree | Renovated in 2021 | Greenville - Anderson MSA

Listing Price: $1,381,818

Cap Rate
5.50%
Tenant Name
Dollar Tree Stores, Inc.
Years Remaining On Lease
9.6
Gross SF
16,000
Guarantor
Corporate Guarantee
Rentable SF
16,000
Price/Gross SF
$86.36
Lease Type
Double Net
Rent Per Square Feet
$4.75

Investment Highlights

  • Newly Refitted/Renovated in 2021 | 100% Leased to Dollar Tree | Corporate Guarantee | Formerly a Fred's Super Dollar
  • Original NN Lease | Four, 5-Year Options to Renew with $0.50/SF Rent Escalations Occurring Each Period | Approx. 9.75 Years of Term Remaining | Minimal Landlord Responsibilities
  • Dollar Tree is a Fortune 500 Tenant with Investment Grade Credit BBB (S&P) | Baa2 (Moody's)
  • Strong Average Household Income | Over $65,000 within 1-Mile Radius of Property | Ideally Located on Highway 81 (6,000+ VPD) | Directly Across from Iva Fire Department
  • Located Less than 15 Miles of Anderson | 45 Miles of Greenville | 50 Miles of Athens, GA | Tenant has Right of First Refusal

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the newly refitted Dollar Tree located in the Greenville-Anderson MSA. The freestanding retail building was renovated in 2021 and totals 16,000 square-feet, fully leased to Dollar Tree. The subject property rests on approximately 2.82 acres featuring a newly repaved parking lot. Dollar Tree is on a long-term, NN lease with approximately 9.75 years of term remaining with $0.50/SF rent escalations occurring each option period and features a corporate guarantee. The subject property is primely positioned on Highway 81 South (6,000 VPD) and is immediately surrounded by other national retailers including O’Reilly Auto Parts, Shell, Subway, Dollar General. Additionally, the property is situated directly across from the Iva Fire Department. The upstate region of South Carolina is located in the northwesternmost portion of the state. It is also known as the Greenville-Spartanburg-Anderson combined statistical area, consisting of 10 counties: Anderson, Greenville, Laurens, Pickens, Spartanburg, Union, Cherokee, Abbeville, Greenwood and Oconee. The area is home to 1.5 million residents. Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms. The county seat and most populous city is Greenville, with roughly 70,000 residents. Additional portions of the metro are known for manufacturing and a variety of other industries.

Exclusively Listed By

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