Dollar Tree – Palestine, TX
Fortis Net Lease is pleased to present this 10,500 SF Dollar Tree store located in Palestine, Texas. The property is encumbered with a ten (10) year double net lease, leaving minimal landlord responsibilities. The lease contain Three (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 Dollar Tree is highly visible as it is strategically positioned on a corner of Oak St (which sees 12,600 vehicles per day). The building is located on a main artery feeding Palestine. The five mile population is nearly 24,000+ with the two mile average household income at $55,282. These are ideal demographics for a Dollar Store. The five mile average home value exceeds $100,000.
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 6.65% cap rate based on NOI of $88,320.
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• Three (5 Yr) Options | $0.50 Rental Rate Increase
• Located on Main Artery feeding Palestine
• 12,600 Vehicles Per Day on Oak St
• Investment Credit Tenant | Standard & Poor’s: ‘BBB-‘
• Five Mile Population of 24,000+
• Two Mile Average Household Income $55,282
• 5 Year Kick-Out if Sales are Under $1.2M
Instate Broker of Record: Brian Brockman | Bang Realty, Inc.