The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar Tree property positioned within the Atlanta MSA in Tyrone, Georgia. Dollar Tree signed a new 10+ year lease in August 2024. The new lease includes four 5-year renewal options featuring 3% rental escalations at the start of each term. The current rent is below market (actual: $15.98/sf vs. market: $22.79/sf) according to CoStar. The property also recently received a new roof with a 20-year transferable warranty. Dollar Tree is an investment-grade tenant, boasting a “BBB” credit rating from Standard & Poor’s.
Dollar Tree originally subleased the subject property from Walgreens in 2019. Upon the expiration of the Walgreens sublease, Dollar Tree demonstrated their long-term commitment to the location by signing a new direct lease with the landlord. Notably, Dollar Tree is paying nearly the same rental rate as Walgreens during their lease term, underscoring the property’s strong market positioning and stable rental income.
The 14,693-square-foot building bene?ts from its position at the Southwest corner of Joel Cowan Parkway and Tyrone Road, which together experience over 34,700 vehicles per day. Nearby retailers include Publix, CVS, Advance Auto Parts, Goodwill, Shell, Waffle House, and several others. The property is also less than two miles south of Sandy Creek High School which has 1,200 students enrolled. There are over 57,000 people living within a ?ve-mile radius. Additionally, the population within a three-mile radius earns a six-?gure average household income of $162,280. Tyrone is located 25 miles south of Downtown Atlanta.
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 16,000 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.