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Dollar Tree (Next to Walmart)

305 S Wiley Ave, Washington, IA 52353

Listing Price: $1,186,000

Cap Rate
7.25%
Tenant Name
Dollar Tree
Years Remaining On Lease
6.40
Gross SF
8,600
Guarantor
Corporate Guarantee
Rentable SF
8,600
Price/Gross SF
$137.91
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.00

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Washington, Iowa.

The 8,600 square foot Dollar Tree was built-to-suit in 2019 and sits on 1.50 acres. The building has excellent visibility and easy, immediate access from State Highway 92. Dollar Tree is perfectly positioned, out in front of a Walmart Supercenter, next to a Hills Bank and a freestanding Pizza Ranch. The Dollar Tree is also in close proximity to both the Washington Municipal Airport and the Washington County Hospital and Clinics. Washington is located just 54 miles from Cedar Rapids, 72 miles from Davenport and 113 miles from Des Moines.

Dollar Tree signed an original 7-year lease commencing on October 31, 2019 with the current lease expiration set for January 31, 2027 leaving about 6.5 years remaining. 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, insurance and utilities. There are four, five-year renewal options available, each of which having a rent increase scheduled.

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

  • Walmart Supercenter Outparcel | Next to Freestanding Pizza Ranch & Hills Bank
  • New Build-to-Suit Construction in 2019
  • Original 7-Year Lease | Commenced on October 31, 2019
  • Currently 6.5 Years of Lease Term Remaining
  • Modified NNN Lease | Landlord Responsible for Roof & Structure
  • 1.8 Miles from the Washington Muni Airport & 2 Miles from the Washington Co Hospital

Exclusively Listed By

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Dollar Tree (Next to Walmart)

Listing Price: $1,186,000

Cap Rate
7.25%
Tenant Name
Dollar Tree
Years Remaining On Lease
6.40
Gross SF
8,600
Guarantor
Corporate Guarantee
Rentable SF
8,600
Price/Gross SF
$137.91
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.00

Investment Highlights

  • Walmart Supercenter Outparcel | Next to Freestanding Pizza Ranch & Hills Bank
  • New Build-to-Suit Construction in 2019
  • Original 7-Year Lease | Commenced on October 31, 2019
  • Currently 6.5 Years of Lease Term Remaining
  • Modified NNN Lease | Landlord Responsible for Roof & Structure
  • 1.8 Miles from the Washington Muni Airport & 2 Miles from the Washington Co Hospital

Investment Overview

Marcus & Millichap is pleased to present the Dollar Tree located in Washington, Iowa.

The 8,600 square foot Dollar Tree was built-to-suit in 2019 and sits on 1.50 acres. The building has excellent visibility and easy, immediate access from State Highway 92. Dollar Tree is perfectly positioned, out in front of a Walmart Supercenter, next to a Hills Bank and a freestanding Pizza Ranch. The Dollar Tree is also in close proximity to both the Washington Municipal Airport and the Washington County Hospital and Clinics. Washington is located just 54 miles from Cedar Rapids, 72 miles from Davenport and 113 miles from Des Moines.

Dollar Tree signed an original 7-year lease commencing on October 31, 2019 with the current lease expiration set for January 31, 2027 leaving about 6.5 years remaining. 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, insurance and utilities. There are four, five-year renewal options available, each of which having a rent increase scheduled.

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

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