Dollar Tree Strip Center

Price: $1,220,000
Sq. Ft.: 16,000
Cap Rate: 5.58%
Built: 1988

The subject property is a 16,000-square foot multi-tenant retail strip in Joshua, Texas. The building is a former Brookshires Grocery that is being renovated into a multi-tenant center. Dollar Tree has executed a new 10 year, triple-net lease for 56 percent of the gross leasable area. The lease includes two five-year options for renewal with rent bumps at the beginning of each option period. The remaining vacant space can be converted into one or two additional suites. Originally constructed in 1988, the building is situated on 1.4 acres with ample parking.