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Dollar Tree | New Extension | 11+yrs Remain 705 Blowing Rock Blvd 10,000 SF Retail Building Lenoir, NC 28645 $1,752,000 ($175.20/SF) 7.25% Cap Rate
Investment Highlights
- New Extension | Over 11 Years Remaining | Scheduled Rental Increases | Fresh Remodel | Placer.Ai
- Along Blowing Rock Blvd | Dense Retail Corridor | Strong National/Credit Tenant Presence | Excellent Visibility
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area
Executive Summary
• Tenant just recently signed a new 10-year extension
• Over 11 years remaining with 1 (5-year) option to extend
• The lease features $0.50/SF increases every five years and at the beginning of the option, growing NOI and hedging against inflation
• Store is undergoing a “paint & powder” refresh
• 91st Percentile within a 50-mile radius (#5 of 45 stores) and 78th percentile in North Carolina (#70 of 328 stores) - (Placer.AI)
• Over 11 years remaining with 1 (5-year) option to extend
• The lease features $0.50/SF increases every five years and at the beginning of the option, growing NOI and hedging against inflation
• Store is undergoing a “paint & powder” refresh
• 91st Percentile within a 50-mile radius (#5 of 45 stores) and 78th percentile in North Carolina (#70 of 328 stores) - (Placer.AI)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,000 SF
Building Class
C
Year Built
2002
Price
$1,752,000
Price Per SF
$175.20
Cap Rate
7.25%
NOI
$127,075
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.18 AC
Opportunity Zone
Yes
Zoning
General Commercial
Parking
49 Spaces (4.9 Spaces per 1,000 SF Leased)
Frontage
79’ on Blowing Rock Blvd
Amenities
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
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 | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-48-1-17B | Improvements Assessment | $652,900 |
| Land Assessment | $776,700 | Total Assessment | $1,429,600 |
Property Taxes
Parcel Number
09-48-1-17B
Land Assessment
$776,700
Improvements Assessment
$652,900
Total Assessment
$1,429,600
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Dollar Tree | New Extension | 11+yrs Remain | 705 Blowing Rock Blvd