Overview

Description

We are pleased to present this 10,000 SF. freestanding Dollar Tree store in Bettendorf, Iowa - Davenport MSA and part of the "Quad Cities" area. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 5 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed by Dollar Tree which holds a credit rating of “BBB-”, which is classified as Investment Grade. The store is currently under construction and on track for a rent start date in February 2024

This Dollar Tree store is highly visible as it is strategically positioned on the corner of Woodfield Drive and Middle Road which sees 6,074 cars per day. With 2 points of ingress/egress, the store is easily accessible from either street. It sits adjacent to a Ford Dealership, Fareway Grocery, Duck Creek Tire & Service, and Bridge Cities Church. The 5 mile population from the site is 119,570 while the 3 mile average household income is $111,220 per year, making this location ideal for a Dollar Tree store. Consumer spending within a 5 mile radius is $1.5 Billion! The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar Tree store. This investment will offer a new owner continued 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 7.15% cap rate based on NOI of $144,000.

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