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Dollar Tree

480 10th Ave E, Milan, IL 61264

Listing Price: $1,594,650

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
6.4
Gross SF
9,500
Guarantor
Corporate Guarantee
Rentable SF
9,500
Price/Gross SF
$167.86
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.75

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Milan, Illinois.

The 9,500 square foot Dollar Tree was built-to-suit in 2020 and is positioned on about 1.17 acres. It sits across the street from the large Xpac Warehouse, which is an export packaging company. Additionally, there is a 2.8 million square foot John Deere Part Distribution Center down the street which is next to the Quad City International Airport, which is the third-busiest commercial airport in Illinois and previously was named Illinois Primary Airport of the Year in 2012. Retail traffic drivers include Hy-Vee, KFC, Walgreens, and CVS among others. Milan sits on the outskirts of Moline, Illinois which is separated by the Mississippi River from Davenport, Iowa.

Dollar Tree signed an original 7-year lease that commenced on June 3, 2020 and is set to expire on June 30, 2027 leaving about 6.5 years of lease term remaining. The lease is considered modified triple net, with the landlord being responsible for the roof and structure of the premises, and the tenant responsible for the taxes, common area maintenance, insurance, utilities and HVAC. There are four, five-year renewal options available, with the first option period having flat rent, but the second, third and fourth options all having rent increases.

Dollar Tree was founded in 1986 and in 34 years has grown to more than 15,115 locations across 48 states. The company is publicly traded on the NASDAQ under the ticker DLTR.

Investment Highlights

  • Brand New Build-to-Suit Construction in 2020
  • Original 7-Year Lease | Commenced on June 3, 2020
  • Modified Triple Net Lease | Tenant Reimburses for All Expenses
  • 3.5 Miles from Quad City International Airport (3rd Busiest Commercial Airport in IL)
  • Dollar Tree sits 6.5 Miles from Moline, IL & 7.5 Miles from Davenport, IA
  • Dollar Tree is Publicly Traded on the NASDAQ (DLTR) | S&P Rated BBB-

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

Listing Price: $1,594,650

Cap Rate
7.00%
Tenant Name
Dollar Tree
Years Remaining On Lease
6.4
Gross SF
9,500
Guarantor
Corporate Guarantee
Rentable SF
9,500
Price/Gross SF
$167.86
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.75

Investment Highlights

  • Brand New Build-to-Suit Construction in 2020
  • Original 7-Year Lease | Commenced on June 3, 2020
  • Modified Triple Net Lease | Tenant Reimburses for All Expenses
  • 3.5 Miles from Quad City International Airport (3rd Busiest Commercial Airport in IL)
  • Dollar Tree sits 6.5 Miles from Moline, IL & 7.5 Miles from Davenport, IA
  • Dollar Tree is Publicly Traded on the NASDAQ (DLTR) | S&P Rated BBB-

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Milan, Illinois.

The 9,500 square foot Dollar Tree was built-to-suit in 2020 and is positioned on about 1.17 acres. It sits across the street from the large Xpac Warehouse, which is an export packaging company. Additionally, there is a 2.8 million square foot John Deere Part Distribution Center down the street which is next to the Quad City International Airport, which is the third-busiest commercial airport in Illinois and previously was named Illinois Primary Airport of the Year in 2012. Retail traffic drivers include Hy-Vee, KFC, Walgreens, and CVS among others. Milan sits on the outskirts of Moline, Illinois which is separated by the Mississippi River from Davenport, Iowa.

Dollar Tree signed an original 7-year lease that commenced on June 3, 2020 and is set to expire on June 30, 2027 leaving about 6.5 years of lease term remaining. The lease is considered modified triple net, with the landlord being responsible for the roof and structure of the premises, and the tenant responsible for the taxes, common area maintenance, insurance, utilities and HVAC. There are four, five-year renewal options available, with the first option period having flat rent, but the second, third and fourth options all having rent increases.

Dollar Tree was founded in 1986 and in 34 years has grown to more than 15,115 locations across 48 states. The company is publicly traded on the NASDAQ under the ticker DLTR.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

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