INVESTMENT OFFERING:
Saurage Rotenberg is pleased to present this built to suit 10,500 SF Dollar Tree & Family Dollar Hybrid store located in Krotz Springs, LA. The property is encumbered with a ten (10) year double net lease, leaving a minimal landlord responsibilities. The lease contains four (5) year options to renew, each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar Tree Corporation which holds a credit rating of "BBB-" which is classified as investment grade.
This store is highly visible as it is strategically positioned in the heart of Krotz Springs, Louisiana, in St. Landry Parish. The store is directly situated off Hwy. 190 which sees over 13,648 cars per day. The five mile population is 2,590 with a five mile average household income in excess of $68,484.
This investment will offer a new owner success due to the financial strength and the proven profitability of the tenant, one of the nation's top dollar stores. List price reflects a 7.25% cap rate based on NOI of $94,500.
INVESTMENT SUMMARY:
List Price: $1,303,450.00
Current NOI: $94,500.00
Initial Cap Rate: 7.25%
Land Acreage: 1.47
Year Built: 2024
Building Size: 10,500
Price Per SF: $124.00
Lease Type: NN
Lease Term: 10 Yr
INVESTMENT HIGHLIGHTS:
New Dual Tenant Concept | Brand New Lease
Combo Stores See 20% Increase in Revenue
13,648 Traffic Count of Hwy. 190
10 Yr NN Lease Requiring Minimal Landlord Responsibilities
Four- (5 Yr) Options | $0.50 Rental Rate Increase
Investment Credit Tenant | Standard & Poor's: 'BBB-'
Five Mile Average Household Income of $68,484
Anticipated turnover is April 2024
FINANCIAL INCOME SUMMARY:
Rent: $94,500.00 (PSF: $9)
Gross Income: $94,500.00 (PSF: $9)
LEASE SUMMARY:
Tenant: Dollar Tree/Family Dollar
Lease Type: NN
Primary Lease Term: 10 Yr
Annual Rent: $94,500.00
Rent PSF: $9.00
Roof, Structure & Parking: Landlord Responsibility
Taxes, Insurance & CAM: Tenant Responsibility
Lease Start Date: 4/1/2024
Lease End Date: 3/31/2034
Lease Term Remaining: 10 yr
Rent Bumps: In Options ($0.50 P/Ft)
Renewal Options: 4- (5 Years)
Lease Guarantor: Dollar Tree Corp
Lease Guarantor Strength: BBB-
Tenant Website: DollarTree.com
TENANT HIGHLIGHTS:
$22.5+ Billion Market Capital in 2020
Same Store Sales Increases 4.4% in 2019
Ranked #134 on Fortune 500 in 2020
Recently Opened its 15,200th store in the USA Boasts a staggering TTM revenue exceeding $24 billion
DOLLAR TREE
Dollar Tree, Inc. operates discount retail stores in the United States and Canada. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care products, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; various merchandise.
This segment operates under the Dollar Tree, Dollar Tree Canada, Deals, and Dollar Tree Deals brands, as well as 10 distribution centers in the United States and 2 in Canada, and a store support center in Chesapeake, Virginia. A Fortune 500 Company, Dollar Tree is headquartered in Chesapeake, Virginia and was founded in 1953. The name of the company Only $1.00 was changed to Dollar Tree Stores in 1993 and, shortly thereafter, in 1995, the company went public with a market value of $225 million. Today, Dollar Tree is a $20+ billion dollar company and a premier operator in its industry.
Company: Dollar Tree
Founded: 1986
Total Revenue: 22.25B
Net Income: 1.714B
Headquarters: Chesapeake, Virginia
Website: www.DollarTree.com
DTFD: Gross Sales: $22.25B
DTRD: Store Count: 15,000+
DTFD: Guarantor: Dollar Tree
DTFD: S&P BBB-