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Dollar Tree | 10yrs Remain Corp NN w/ Incrs 2904 Arendell St 13,813 SF Retail Building Morehead City, NC 28557 $3,202,241 CAD ($231.83 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 10 Years Remaining | Options To Extend | Scheduled Rental Increases
- Arendell St (30,000 VPD) | Outparcel to Morehead Plaza
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Dollar Tree investment property located in Morehead City, North Carolina. The tenant, Dollar Tree Stores, Inc., has approximately 10 years remaining lease with 3 (5-year) options to extend and converted this store from a Family Dollar to a Dollar Tree, demonstrating their commitment to the site. The lease features flat rent in the initial term and approximately 4% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,813 SF
Building Class
B
Year Built/Renovated
2004/2012
Price
$3,202,241 CAD
Price Per SF
$231.83 CAD
Cap Rate
7.50%
NOI
$240,259 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.94 AC
Zoning
Commercial - Commerical
Parking
68 Spaces (4.92 Spaces per 1,000 SF Leased)
Frontage
106’ on Arendell St
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Dollar Tree
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Dollar Tree | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6376.20.82.0276000 | Improvements Assessment | $2,799,900 CAD |
| Land Assessment | $1,049,425 CAD | Total Assessment | $3,849,325 CAD |
PROPERTY TAXES
Parcel Number
6376.20.82.0276000
Land Assessment
$1,049,425 CAD
Improvements Assessment
$2,799,900 CAD
Total Assessment
$3,849,325 CAD
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Dollar Tree | 10yrs Remain Corp NN w/ Incrs | 2904 Arendell St
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