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Dollar Tree

4540 Mortensen Rd, Ames, IA 50014

Listing Price: $2,677,000

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.4
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.75

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Ames, Iowa. The 10,000 square foot building is positioned on 0.96 acres along Mortenson Road, positioned next to a Sleep Inn & Suites, a Kum & Go Gas Station, and the Dakota Crossing Shopping Mall. Dollar Tree will benefit from immediate access to U.S. Route 30, which is a major east-west U.S. Highway which spans across 330 miles across the state of Iowa, making it the longest primary highway in the state. Ames is home to Iowa State University and it’s more than 30,000 students. The Iowa State campus is about two miles from the subject property, and is the main economic and traffic driver in Ames. There are more than 70,000 residents within 5 miles of the site, with the average household income exceeding $85,000. The building is being built-to-suit to Dollar Tree’s prototype, with the ten-year original base lease term commencing within 120 days of delivery date. The lease is modified triple net, with the landlord being responsible for the roof and structure. There are five, fiveyear renewal options available, each of which having rent increases providing rent growth for the future landlord.

Investment Highlights

  • Brand-New 2024 Build-to-Suit Construction | Estimated Delivery of 10/1/2024
  • Fresh Ten-Year Lease | Full-Term Remaining
  • Located Two Miles from the Iowa State University Campus (Enrollment: 30,700+)
  • Positioned in Between a Sleep Inn & Suites, a Kum & Go Gas Station and the Dakota Crossing Shopping Mall
  • Immediate Access to U.S. Route 30 Which is the Longest Primary Highway in Iowa (Spans 330 Miles)
  • Combined Traffic Counts in Excess of 20,000 Cars Per Day Between Mortensen Road and South Dakota Avenue
  • Dense Demographics | Five-Mile Population: 70,336

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Discount

Dollar Tree

Listing Price: $2,677,000

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
10.4
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.75

Investment Highlights

  • Brand-New 2024 Build-to-Suit Construction | Estimated Delivery of 10/1/2024
  • Fresh Ten-Year Lease | Full-Term Remaining
  • Located Two Miles from the Iowa State University Campus (Enrollment: 30,700+)
  • Positioned in Between a Sleep Inn & Suites, a Kum & Go Gas Station and the Dakota Crossing Shopping Mall
  • Immediate Access to U.S. Route 30 Which is the Longest Primary Highway in Iowa (Spans 330 Miles)
  • Combined Traffic Counts in Excess of 20,000 Cars Per Day Between Mortensen Road and South Dakota Avenue
  • Dense Demographics | Five-Mile Population: 70,336

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Ames, Iowa. The 10,000 square foot building is positioned on 0.96 acres along Mortenson Road, positioned next to a Sleep Inn & Suites, a Kum & Go Gas Station, and the Dakota Crossing Shopping Mall. Dollar Tree will benefit from immediate access to U.S. Route 30, which is a major east-west U.S. Highway which spans across 330 miles across the state of Iowa, making it the longest primary highway in the state. Ames is home to Iowa State University and it’s more than 30,000 students. The Iowa State campus is about two miles from the subject property, and is the main economic and traffic driver in Ames. There are more than 70,000 residents within 5 miles of the site, with the average household income exceeding $85,000. The building is being built-to-suit to Dollar Tree’s prototype, with the ten-year original base lease term commencing within 120 days of delivery date. The lease is modified triple net, with the landlord being responsible for the roof and structure. There are five, fiveyear renewal options available, each of which having rent increases providing rent growth for the future landlord.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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