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1112 E Main St 9,300 SF Retail Building Othello, WA 99344 $1,520,069 ($163.45/SF) 7.25% Cap Rate
Investment Highlights
- Highest advertised cap rate of any Dollar Tree currently on the market in the Pacific Northwest.
- Below market rent at $11.85/SF, NN, and two renewal terms remaining.
- Landlord is responsible for structural, roof, fire sprinkler system, parking lot, HVAC replacement, pylon sign and landscaping.
- Corporate lease to Dollar Trees Stores, Inc.
- Originally built-to-suit for Dollar Tree in 2017 who recently exercised its first renewal option through March 31, 2032.
- Advertised NOI is reflective of scheduled rent increase effective as of April 1, 2027. Seller will make up any shortfall if closed prior to April 1.
Executive Summary
THIS OFFERING is for the opportunity to purchase a single-tenant NN corporate leased Dollar Tree at what is currently the highest advertised capitalization rate for any Dollar Tree being marketed in the Pacific Northwest.
Originally built-to-suit for Dollar Tree on a 10-year term who recently exercised their first renewal option through March 31, 2032, the property is located on Othello’s primary commercial arterial and is within an established value/grocery retail submarket area providing the synergy Dollar Tree thrives on via a Walmart Supercenter nearby and Harvest Foods grocer across the street.
This is a busy and vibrant store servicing the type of tertiary market Dollar Tree excels in.
Originally built-to-suit for Dollar Tree on a 10-year term who recently exercised their first renewal option through March 31, 2032, the property is located on Othello’s primary commercial arterial and is within an established value/grocery retail submarket area providing the synergy Dollar Tree thrives on via a Walmart Supercenter nearby and Harvest Foods grocer across the street.
This is a busy and vibrant store servicing the type of tertiary market Dollar Tree excels in.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,300 SF
Building Class
B
Year Built
2016
Price
$1,520,069
Price Per SF
$163.45
Cap Rate
7.25%
NOI
$110,205
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.83 AC
Zoning
C-2
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Dollar Tree began in 1986 as Only $1.00, building on a Norfolk variety-store heritage that later helped shape the business. The company focuses on discount variety retail, selling consumable, seasonal, and general merchandise such as housewares, food, health and beauty products, toys, party supplies, stationery, and crafts. After the Family Dollar sale, Dollar Tree operates as a focused North American value retailer with a large store network, a national logistics system, and an expanding multi-price assortment and online ordering options.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1529030715602 | Improvements Assessment | $835,400 |
| Land Assessment | $104,500 | Total Assessment | $939,900 |
Property Taxes
Parcel Number
1529030715602
Land Assessment
$104,500
Improvements Assessment
$835,400
Total Assessment
$939,900
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1112 E Main St