11625-11635 Metcalf Ave
Overland Park, KS 66210
Dollar Tree (10 Yr Lease) | Walmart Attached · Retail Property For Sale

Marcus & Millichap is pleased to present the Dollar Tree, BMC Mattress Retail Center, located in south Johnson County, Kansas on Metcalf Ave. This investment consist of a 100% occupied two-tenant retail center. The Dollar Tree, BMC Mattress Retail Center is anchored by Walmart, Kohl's, Best Buy, Pet's Mart and physically attached to the Walmart Supercenter itself. The average household income (HHI) is over $125,000 within 3 mile radius, population of 225,000 in a 5 mile radius, and the property is just one mile south of the I-435 & Metcalf exit. The center was constructed in 1996 on 1.47 acres of land and has approximately 13,500 square feet of gross leasable area. The center is currently being leased to Dollar Tree (NASDAQ: DLTR) and Burlington Mattress Company. In 2015, Dollar Tree was acquired Family Dollar Stores, Inc (NYSE: FDO) and both companies carry an S&P rating of BB+. BMC Mattress is a rapidly growing national brand with 32 locations in Arizona, Illinois, Indiana and Kansas. Dollar Tree executed a new 10-year lease extension which began February 1, 2018 and offers rental increases every 5 years. Dollar Tree is under a single-net (N) lease whereas they pay their utility expenses. Burlington Mattress Company executed a five (5) year lease which began January 1, 2018 and offers 3% rental increase in years three (3), four (4) and five (5). BMC Mattress is on a triple-net (NNN) lease and pay their proportionate share of taxes, insurance, CAM, maintenance and administrative expense.