Tuscaloosa, AL - Dollar Tree

Description:

• Dollar Tree recently converted this location from Family Dollar, and signed a new 10-year lease extension with five (5-yr) options to extend, demonstrating their commitment to the site
• The tenant currently has over 9 years remaining on their initial lease with 5 (5-year) options to extend, demonstrating their commitment to the site
• The lease features $0.50/SF increases at the beginning of each option, growing NOI and hedging against inflation
• Dollar Tree, a Fortune 200 Company, operated 16,590 stores across 48 states and five Canadian provinces as of November 2, 2024
• Tenant pays for utilities, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to roof, floor slab, foundation, and exterior structure
• Ideal, low-management investment for a passive investor

• The subject property is ideally situated as an outparcel to a Walmart Supercenter and a Sam’s Club
• The site is located in a dense retail corridor, with numerous nearby national/credit tenants including McDonald’s, Taco Bell, Burger King, Advance Auto Parts, Dunkin’, Popeye’s, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The subject property is in close proximity to Aspen Village Apartments (466 units), Mountain View Apartments (219 units), and High Country Apartments (265 units), increasing consumer traffic to the area
• The asset is located at the signalized, hard corner intersection of Skyland E Blvd which averages 31,100 VPD
• The site benefits from nearby direct on/off ramp access to Interstate 20 & 59, a major thoroughfare that averages 55,400 vehicles passing by daily
• The asset has excellent visibility via significant street frontage and a large pylon sign
• More than 122,000 residents and 58,000 employees support the trade area, providing a direct consumer base from which to draw
• $68,991 average household income
• 5 miles from The University of Alabama (40,000 students enrolled)