Log In/Sign Up
Your email has been sent.
Single Tenant Net Lease Dollar Tree 408 W Maumee St 19,500 SF Retail Building Adrian, MI 49221 $2,256,738 CAD ($115.73 CAD/SF) 9% Cap Rate
INVESTMENT HIGHLIGHTS
- 2024 Renovation: New Parking Lot, HVAC, Plumbing, and Electrical Systems
- 9 Years Remaining on Double-Net Lease with Rent Increases: $0.50/SF in Each Option (4) 5-Year Options.
- Highest Cap Rate for the Lease Term
- “Dollar Tree Stores, Inc.” Lease Entity Publicly-Traded (NYSE: DLTR / S&P: BBB) Largest Small Box Discount Retailer in the U.S.
- High Visibility on W Maumee Street (6,183 VPD) with Close proximity to Retail Trade Area Containing Walmart, Lowe’s, Meijer, Dunham’s Sports, & Others
- 11% Cash-on-Cash Return
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the Dollar Tree located at 408 W. Maumee Street in Adrian, Michigan. Dollar Tree (Standard & Poor's: BBB Stable; NASGAQ: DLTR) signed a new 10-year lease in June 2024. Recent improvements include a new parking lot, HVAC, plumbing, and electrical systems. The lease features four, give-year renewal options, with $0.50 per-square-feet rent escalation at the beginning of each option period. The property sits on a large 3.83-acre parcel, offering potential for an outparcel development to enhance long-term value. Landlord responsibilities are minimal, making this an attractive passive investment.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
19,500 SF
Building Class
C
Year Built/Renovated
1961/2024
Price
$2,256,738 CAD
Price Per SF
$115.73 CAD
Cap Rate
9%
NOI
$203,106 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
3.83 AC
Zoning
B-4 - General Business
Frontage
AMENITIES
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | XA0-325-0028-01 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $648,082 CAD |
PROPERTY TAXES
Parcel Number
XA0-325-0028-01
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$648,082 CAD
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Single Tenant Net Lease Dollar Tree | 408 W Maumee St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.