OFFERING SUMMARY
Price: $650,000
CAP Rate: 7.27%
Lease Type: Gross Lease
Guarantor: Corporate
Gross Leasable Area: 8,000 SF
Year Built / Renovated: 2007 / 2018
OFFERING HIGHLIGHTS
- Publicly Traded Corporate Backed Lease in Place
- New Lease Signed in 2018 for Seven (7) Year Term Including Three Five-Year Renewals
- Substantial Investment was Put into The Building in 2019 (Approx. $120,000 in Tenant Allowance)
- Rent is Flightly Below Sub-Market Average at $10.25 per SF
INVESTMENT OVERVIEW
The subject property is a corporately backed Dollar Tree located in Magnolia Texas. Dollar Tree has operated at this location since 2018 when they moved in and signed a new, seven-year lease. At that time, $120,000 in repairs and renovations was put into the building to provide the building with a facelift and upgrade the location to Dollar Tree’s standards.
The property is located in the fast-growing Houston suburb of Magnolia, just north of The Woodlands. Magnolia has seen its population explode in the last decade, growing by over 50% since 2010. Located in the desirable Houston MSA, this location sits along FM 1488 which sees over 12,000 vehicles per day and benefits from surrounding retail synergy and tenants including AutoZone, Taco Bell, and Family Dollar.
