Cap Rate: 6.25%
Gross Leasable Area: 8,984 SF
- Newly Executed 7-Year Lease
- Excellent Retail Synergy
- Attractive Corporate Guarantee
- Strong Traffic Counts
- Dollar Tree Headquarters is Located in Virginia
The subject offering is a Dollar Tree located in a prime retail corridor of Roanoke, VA. Located along I-581 and directly across from Valley View Mall, this storefront has high visibility and sees heavy traffic counts. As a newly converted Pier 1, this location has a brand new lease which commenced on January 20, 2022. With 7 years in the initial term, the lease offers 5% rent increases in each of its five, 5-year options. This offering provides an incoming investor the opportunity to acquire a highly sought-after tenant in a major metro.
The property is located in an area surrounded by retail, dining, and hospitality options. The Valley View Mall was purchased a few years ago and has had significant improvements since then. The Roanoke-Blacksburg Regional Airport is also located less than 2 miles away.