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Dollar Tree

612 2nd Ave SW, Cresco, IA 52136

Listing Price: $1,992,857

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Double Net
Rent Per Square Feet
$13.95

Investment Overview

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, Hy-Vee 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, five-year 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 16,000 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.

Investment Highlights

  • Brand-New 2024 Build-to-Suit Construction
  • Estimated Delivery 3/4/2024
  • 10 Year Lease with Full Term Remaining

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Discount

Dollar Tree

Listing Price: $1,992,857

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Double Net
Rent Per Square Feet
$13.95

Investment Highlights

  • Brand-New 2024 Build-to-Suit Construction
  • Estimated Delivery 3/4/2024
  • 10 Year Lease with Full Term Remaining

Investment Overview

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, Hy-Vee 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, five-year 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 16,000 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.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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