Dollar Tree Net Lease Investment Opportunity | New Construction | 6.7% Cap Rate

Highlights:

• New construction Dollar Tree, with plans to open in the Fall of 2023
• Ten year NN+ lease with 4 five year options and limited landlord responsibilities
• Superior location with traffic counts of over 17,000 VPD and a five-mile population of almost 42,000
• Strategic location in Greensboro/Highpoint, NC MSA close to Interstate 74 (with 41,000 VPD)
• Immediate area has robust retail corridor with many national retailers
• Major area employers include Randolph Health Hospital, Randolph Community College and Asheboro Schools
• Dollar Tree has proven success and is a strong corporate guarantor at a strong 6.7% cap rate
• Bull Realty North Carolina License #: C17910

Description:

This new construction Dollar Tree with a planned Fall 2023 opening, located in Asheboro, NC, is the county seat of Randolph County and part of the Greensboro/Highpoint, NC MSA. The ± 10,500 SF building is on Fayetteville Street with traffic counts of over 17,000 VPD. The 10-year NN+ lease has minimal landlord responsibilities and features four 5-year renewal options with rent increases in each option period.

The Tenant fully reimburses the Landlord for property taxes and property insurance and is responsible for the interior, all utilities, HVAC maintenance and routine maintenance of the parking lot and landscaping, including snow removal. Landlord responsibilities are limited to roof, structure, fire sprinkler system, capital expenses for parking lot, and landscaping.

Asheboro is located just over a mile south of Interstate 74 (with over 41,000 VPD) and about 25 miles south Greensboro. Within 5 miles, the population is over 41,700 with an average household income of over $69,000. The immediate area is a robust commercial corridor featuring Randoph Health Hospital and many national retail tenants including Sherwin-Williams, Walgreens, CVS and Truist Bank. Asheboro is also known as the home of the North Carolina Zoo, one of the world’s largest natural habitat zoos.

Dollar Tree, based in Chesapeake, VA operates over 16,300 retail stores under the Dollar Tree, Family Dollar, and Family Dollar/Dollar Tree brands in 48 states and Canada. They continue to demonstrate record sales with a net sales increase of 7.6% ($28.3B) in 2022 and same store sales growth of 9%, making them an outstanding corporate guarantor with a strong leadership team, including the former head of Dollar General.

This offering is competitively priced as can be seen in the chart on Page 10 at $2,009,125 or a 6.7% cap rate.


This listing is located in Asheboro, NC.

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