Dollar Tree | Knoxville MSA | LOW PRICE Point

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1255 US-11W
Bean Station (Knoxville MSA), TN

Price: $1,317,000

Cap: 7.50%

NOI: $98,770

Building Size: 8,300 SF

Lot Size: 1.4 AC

Investment Highlights

LOW RENT & PRICE POINT

• This Dollar Tree has a lower rent of $98,770 which equates to a lower price point compared to the majority of new Dollar Tree stores.

KNOXVILLE MSA | 3RD LARGEST CITY IN TN

• Bean Station is located about 1 hour northeast of downtown Knoxville on Hwy 11 (10,699 VPD) and is a part of the Knoxville MSA.

• Knoxville is the largest city in the East Tennessee Grand Division and the state’s third largest city after Nashville and Memphis.

• Home to the University of Tennessee which has 36,304 students enrolled and nearly 10,000 staff members.

• The largest company based in Knoxville is the privately-held Pilot Flying J, the nation’s largest truck stop chain and sixth largest private company.

• Over 700 manufacturing establishments are scattered throughout the Knoxville area. Sea Ray Boats is the city’s largest manufacturer, employing 760 residents.

• The Knoxville area is home to 182 shopping centers and factory outlets, and over 2,400 retail establishments.

ACROSS FROM MANUFACTURING FACILITY WITH 350 EMPLOYEES

• This Dollar Tree is directly across the street from a Clayton Homes Manufacturing Facility. Clayton Homes is the largest builder of manufactured housing and modular homes in the US.

• This location supports approximately 350 employees.

NEWLY RENOVATED DOLLAR TREE | 10-YEAR CORPORATE NN LEASE

• The subject property is a newly renovated 8,300 SF Dollar Tree. The scheduled rent commencement date is May 2024.

• Dollar Tree made a significant investment retrofitting this store demonstrating their confidence and dedication to this market.

• Dollar Tree backfilled a former Walgreens that relocated down the street.

• Dollar Tree signed a new 10-year corporate guaranteed NN Lease.

• The roof was replaced in 2019 and has 16 years remaining on the roof warranty.

• Tenant is responsible for Parking lot Maintenance (repair, striping, sealing, etc), taxes, Insurance, HVAC, and Utilities.

• There are limited Landlord responsibilities which include Roof, Structure and Parking Lot replacement

• The rent increases by $.50/SF every 5 years in each of the five, 5-year option periods.

INVESTMENT GRADE TENANT

• Dollar Tree is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB-.

• Dollar Tree/Family Dollar operate 23,000+ stores across 48 states and five Canadian provinces and are expanding by 600 stores each year.

• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion.

Don McMinn

678-808-2762 | EMAIL >

OFFERING MEMORANDUM

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