View
2
Download
0
Category
Preview:
Citation preview
30445 Northwestern Highway, Suite 275Farmington Hills, MI 48334248.254.3410
3924 TEASLEY LN, DENTON, TX 76210
13% POP GROWTH PROJECTED! | WALMART OUTLOT
NEW DOLLAR TREE - ESSENTIAL
BRYAN BENDERMANAGING DIRECTOR
D: 248.419.3810BBENDER@FORTISNETLEASE.COM
COREY BUNCHSENIOR ADVISOR
D: 248.419.3627CBUNCH@FORTISNETLEASE.COM
ANDY BENDERSENIOR ADVISOR
D: 248.419.3657ABENDER@FORTISNETLEASE.COMfortisnetlease.com
REPRESENTATIVE STORE PHOTO
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM DISCLAIMER // 2
DISCLOSURE :
All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors,affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com-pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financialperformance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of theany materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for revieware not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will notinvestigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigationsincluding through appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL doesnot serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used forfinancial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party donot necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations aswell as market conditions, vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or taxattorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether theproperty complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.
BRYAN BENDER ANDY BENDER COREY BUNCHMANAGING DIRECTOR SENIOR ADVISOR SENIOR ADVISORD: 248.419.3810 D: 248.419.3657 D: 248.419.3627BBENDER@FORTISNETLEASE.COM ABENDER@FORTISNETLEASE.COM CBUNCH@FORTISNETLEASE.COM
EXCLUSIVELY L ISTED BY:
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM INVESTMENT OFFERING // 3
INVESTMENT SUMMARY
List Price: $2,034,320
Current NOI: $127,145.00
Initial Cap Rate: 6.25%
Land Acreage: 1.05+-
Year Built 2020
Building Size: 8,620 SF
Price PSF: $236.00
Lease Type: NN
Lease Term: 10 Yr
INVESTMENT OFFERINGFortis Net Lease is pleased to present this 8,620 SF Dollar Tree store located in Denton,Texas. The property is encumbered with a ten (10) year double net lease, leavingminimal landlord responsibilities. The lease contain Three (5) year options to renew,each with $0.50 PSF rent increase. The lease is corporately guaranteed by Dollar TreeCorporation which holds a credit rating of “BBB-” which is classified as investmentgrade.
This Dollar Tree is highly visible as it is strategically positioned on a corner of Teasley Rd(which sees 19,910 vehicles per day). The building is next to a Walmart's NeighborhoodMarket. The five mile population is nearly 153,000 with the one mile average householdincome at $115,900. These are above-average demographics for a Dollar Store. The onemile average home value exceeds $252,689.
This investment will offer a new owner success due to the financial strength and theproven profitability of the tenant, one of the nation’s top dollar stores. List pricereflects a 6.25% cap rate based on NOI of $127,145.00
PRICE $2,034,320
CAP RATE 6.25%
LEASE TYPE NN
TERM REMAINING 10 Yr
INVESTMENT HIGHLIGHTS• Brand New Featuring Prototype Construction
• Adjacent to Walmart Neighborhood Market
• 10 Year NN Lease Requiring Minimal Landlord Responsibilities
• Three (5 Yr) Options | $0.50 Rental Rate Increase
• 19,910 Vehicles Per Day on Teasley Rd
• Investment Credit Tenant | Standard & Poor's: 'BBB-'
• Five Mile Population of Nearly 153,000
• One Mile Average Household Income $115,900
• Dollar Tree Out Positions Other Retailers in Market
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM PROPERTY & LEASE // 4
LEASE SUMMARYTenant: Dollar Tree
Lease Type: NN
Primary Lease Term: 10 Yr
Annual Rent: $127,145.00
Rent PSF: $14.75
Landlord Responsibilities: Yes
Taxes, Insurance & CAM: Tenant Responsibility
Roof, Structure & Parking: Landlord Responsibility
Lease Start Date: 9/1/2020
Lease Expiration Date: 9/1/2030
Lease Term Remaining: 10 Yr
Rent Bumps: In Options ($0.50 P/Ft)
Renewal Options: 3 - (5 Years)
Lease Guarantor: Dollar Tree
Lease Guarantor Strength: BBB-
Tenant Website: DollarTree.com
GROSS SALES:
$22.82 BIL
STORE COUNT:
15,000+
GUARANTOR:
DT CORP
S&P:
BBB-
Year Built: 2020
Lot Size: 1.05 +- Acre
Building Size: 8,620 SF
Traffic Count: 19,910 (Teasley Rd)
Fire Protection: Sprinkler System
Zoning: Community
Construction Style: Prototypical
Parking Lot: TBD
HVAC Roof Mounted
INCOME PER SF
Rent $127,145.00 $14.75
Gross Income $127,145.00 $14.75
EXPENSE PER SF
Expenses $0 $0.00
Gross Expenses $0 $0.00
NET OPERATING INCOME $127,145.00 $14.75
FINANCIAL SUMMARY
PROPERTY SUMMARY
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM RENT ROLL // 5
TENANTNAME
UNITSIZE (SF)
LEASESTART
LEASEEND
ANNUALRENT
% OFGLA
ESCDATE
RENTPER SF/YR
Dollar Tree 8,620 9/1/2020 9/1/2030Option 1Option 2Option 3
$127,145.00$131,455.00$135,765.00$140,075.00
100.0Yrs 11-15Yrs 16-20Yrs 21-25
$14.75$15.25$15.75$16.25
Totals/Averages 8,620 $127,145.00 $ 14.75
TOTAL SF8,620
TOTAL ANNUAL RENT$127,145.00
OCCUPANCY RATE100.0%
AVERAGE RENT/SF$ 14.75
NUMBER OF TENANTS1
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
Company: Dollar Tree Stores, Inc.
Founded: 1986
Total Revenue: $22.82 Billion
Net Income: $1.714 Billion
Headquarters: Chesapeake, Virginia
Website: www.DollarTree.com
OVERVIEW
• $20+ Billion Market Capital in 2018
• Same Store Sales Increases 2.4% in 2018
• Ranked #136 on Fortune 500
• Recently Opened its 15,000th Store in the USA
• Boasts a Staggering Revenue Exceeding $5.5 Billion
TENANT HIGHLIGHTS
LEASE YEARS ANNUAL RENT MONTHLY RENT BUMP YIELD
1-10 $127,145.00 $10,595 - 6.25%
Option 1 $131,455.00 $10,954 $0.50 PSF 6.46%
Option 2 $135,765.00 $11,314 $0.50 PSF 6.67%
Option 3 $140,075.00 $11,673 $0.50 PSF 6.89%
RENT SCHEDULE
Dollar Tree, Inc. operates discount retail stores in the United States and Canada.
The company operates in two segments, Dollar Tree and Family Dollar. The
Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides
consumable merchandise, including candy and food, and health and beauty care
products, as well as everyday consumables, such as household paper and
chemicals, and frozen and refrigerated food; various merchandise.
This segment operates under the Dollar Tree, Dollar Tree Canada, Deals, and
Dollar Tree Deals brands, as well as 10 distribution centers in the United States
and 2 in Canada, and a store support center in Chesapeake, Virginia. A Fortune
500 Company, Dollar Tree is headquartered in Chesapeake, Virginia and was
founded in 1953. The name of the company Only $1.00 was changed to Dollar
Tree Stores in 1993 and, shortly thereafter, in 1995, the company went public
with a market value of $225 million. Today, Dollar Tree is a $20+ billion dollar
company and a premier operator in its industry.
COMPANY INFORMATION
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM TENANT PROFILE // 6
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM SITE PLAN // 7
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM RETAIL AERIAL // 8
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM RETAIL AERIAL // 9
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM PROXIMITY MAP // 10
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM REGIONAL MAP // 11
BRYAN BENDER | 248.419 .3810 | BBENDER@FORTISNETLEASE.COM // ANDY BENDER | 248.419 .3657 | ABENDER@FORTISNETLEASE.COM AREA & DEMOGRAPHICS // 12
POPULATION 1 MILE 3 MILES 5 MILES
Total Population 2020 12,796 66,335 152,571
Total Population 2023 14,456 74,933 172,629
Population Growth Rate 12.97% 12.96% 12.63%
Average Age 41.4 42.5 42.7
# Of Persons Per HH 2.7 2.6 2.4
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total Households 4,015 23,590 54,203
Median HH Income $96,679 $84,978 $67,469
Median House Value $283,889 $280,433 $277,212
Consumer Spending (Thousands) $48,978 $401,871 $992,050
Denton is located at the apex of the Dallas-Fort Worth metroplex. Denton ishome to both the University of North Texas and Texas Woman's University, withmore than 50,000 students, and offers close proximity to DFW, Dallas Love, andAlliance airports. A well-trained and ample workforce contributes to an averagehousehold income of over $75,000, as Denton is nationally recognized as ahigh-tech hot spot.
The subject property sits on Teasley and is ideally situated among the mainretail artery of Denton. The site benefits from excellent traffic counts in excessof 19,000 vehicles per day. A five mile total population of nearly 153,000 plusexpected growth of 13% makes this location ideal for new development.
3924 TEASLEY LN, DENTON, TX 76210DOLLAR TREE
BRYAN BENDERMANAGING DIRECTOR
D: 248.419.3810BBENDER@FORTISNETLEASE.COM
COREY BUNCHSENIOR ADVISOR
D: 248.419.3627CBUNCH@FORTISNETLEASE.COM
ANDY BENDERSENIOR ADVISOR
D: 248.419.3657ABENDER@FORTISNETLEASE.COM
30445 Northwestern Highway, Suite 275Farmington Hills, MI 48334248.254.3410fortisnetlease.com
EXCLUSIVELY L ISTED BY:
TOTAL SALES VOLUME PROPERTIES SOLD BROKER & BUYER REACH STATES SOLD IN
$6B 3,000+ 345K 43
Click to Meet Team Fortis
Recommended