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Dollar Tree | Low Price Point| Knoxville MSA | New 10 Yr Lease

1255 US-11W, Bean Station, TN 37708

Listing Price: $1,382,000

Cap Rate
7.15%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
8,300
Lease Type
Double Net
Rent Per Square Feet
$11.90

Investment Overview

LOW RENT & PRICE POINT
• This Dollar Tree has a lower rent of $98,770 which equates to a lower price point compared to the majority of new Dollar Tree stores.

KNOXVILLE MSA | 3RD LARGEST CITY IN TN
• Bean Station is located about 1 hour northeast of downtown Knoxville on Hwy 11 (10,699 VPD) and a part of the Knoxville MSA.
• Knoxville is the largest city in the East Tennessee Grand Division and the state’s third largest city after Nashville and Memphis.
• Home to the University of Tennessee which has 36,304 students enrolled and nearly 10,000 staff members.
• The largest company based in Knoxville is the privately-held Pilot Flying J, the nation’s largest truck stop chain and sixth largest private company.
• Over 700 manufacturing establishments are scattered throughout the Knoxville area. Sea Ray Boats is the city’s largest manufacturer, employing 760 residents.
• The Knoxville area is home to 182 shopping centers and factory outlets, and over 2,400 retail establishments.

ACROSS FROM MANUFACTURING FACILITY WITH 350 EMPLOYEES
• This Dollar Tree is directly across the street from a Clayton Homes Manufacturing Facility. Clayton Homes is the largest builder of manufactured housing and modular homes in the US.
• This location supports approximately 350 employees.

NEWLY RENOVATED DOLLAR TREE | 10-YEAR CORPORATE NN LEASE
• The subject property is a newly renovated 8,300 SF Dollar Tree. The scheduled rent commencement date is March 2024.
• Dollar Tree made a significant investment retrofitting this store demonstrating their confidence and dedication to this market.
• Dollar Tree backfilled a former Walgreens that relocated down the street.
• Dollar Tree signed a new 10-year corporate guaranteed NN Lease.
• The roof was replaced in 2019 and has 16 years remaining on the roof warranty.
• Tenant is responsible for Parking lot Maintenance (repair, striping, sealing, etc), taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which include Roof, Structure and Parking Lot replacement
• The rent increases by $.50/SF every 5 years in each of the five, 5-year option periods.

INVESTMENT GRADE TENANT
• Dollar Tree is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB-.
• Dollar Tree/Family Dollar operate 23,000+ stores across 48 states and five Canadian provinces and are expanding by 600 stores each year.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Investment Highlights

  • Low Rent & Price Point
  • Knoxville MSA | 3rd Largest City In TN
  • Across From Manufacturing Facility With 350 Employees
  • Newly Renovated Dollar Tree | 10-Year Corporate NN Lease
  • Investment Grade Tenant

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Discount

Dollar Tree | Low Price Point| Knoxville MSA | New 10 Yr Lease

Listing Price: $1,382,000

Cap Rate
7.15%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
8,300
Lease Type
Double Net
Rent Per Square Feet
$11.90

Investment Highlights

  • Low Rent & Price Point
  • Knoxville MSA | 3rd Largest City In TN
  • Across From Manufacturing Facility With 350 Employees
  • Newly Renovated Dollar Tree | 10-Year Corporate NN Lease
  • Investment Grade Tenant

Investment Overview

LOW RENT & PRICE POINT • This Dollar Tree has a lower rent of $98,770 which equates to a lower price point compared to the majority of new Dollar Tree stores. KNOXVILLE MSA | 3RD LARGEST CITY IN TN • Bean Station is located about 1 hour northeast of downtown Knoxville on Hwy 11 (10,699 VPD) and a part of the Knoxville MSA. • Knoxville is the largest city in the East Tennessee Grand Division and the state’s third largest city after Nashville and Memphis. • Home to the University of Tennessee which has 36,304 students enrolled and nearly 10,000 staff members. • The largest company based in Knoxville is the privately-held Pilot Flying J, the nation’s largest truck stop chain and sixth largest private company. • Over 700 manufacturing establishments are scattered throughout the Knoxville area. Sea Ray Boats is the city’s largest manufacturer, employing 760 residents. • The Knoxville area is home to 182 shopping centers and factory outlets, and over 2,400 retail establishments. ACROSS FROM MANUFACTURING FACILITY WITH 350 EMPLOYEES • This Dollar Tree is directly across the street from a Clayton Homes Manufacturing Facility. Clayton Homes is the largest builder of manufactured housing and modular homes in the US. • This location supports approximately 350 employees. NEWLY RENOVATED DOLLAR TREE | 10-YEAR CORPORATE NN LEASE • The subject property is a newly renovated 8,300 SF Dollar Tree. The scheduled rent commencement date is March 2024. • Dollar Tree made a significant investment retrofitting this store demonstrating their confidence and dedication to this market. • Dollar Tree backfilled a former Walgreens that relocated down the street. • Dollar Tree signed a new 10-year corporate guaranteed NN Lease. • The roof was replaced in 2019 and has 16 years remaining on the roof warranty. • Tenant is responsible for Parking lot Maintenance (repair, striping, sealing, etc), taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include Roof, Structure and Parking Lot replacement • The rent increases by $.50/SF every 5 years in each of the five, 5-year option periods. INVESTMENT GRADE TENANT • Dollar Tree is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB-. • Dollar Tree/Family Dollar operate 23,000+ stores across 48 states and five Canadian provinces and are expanding by 600 stores each year. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

Financing By

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