DOLLAR TREE 3100 Broad River Road Columbia, SC 29210 - investment offering - Wertz Real Estate Investment Services
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
DOLLAR TREE
3100 Broad River Road
investment offering Columbia, SC 29210
ACTUAL SITE
TABLE OF CONTENTS DISCLAIMER
This Marketing Package was prepared by Wertz Real Estate Investment Services and David B
Zacharia (“Broker”) solely for the use of prospective buyer considering the purchase of the Property
within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of
the Property make any representation or warranty, expressed or implied, as to the completeness or
accuracy of the material contained in the Marketing Package.
Prospective purchasers of the Property are advised that changes may have occurred in the physical or
financial condition of the Property since the time this Marketing Package or the financial statements
herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the
financial statements herein were prepared by Broker, and not by Owner, and are based upon
assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to
variation. Other than current and historical revenue and operating expense figures for the Property,
Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding
the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own
comprehensive review and analysis of the Property.
Financial Overview 3 The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner
and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or
Tenant Overview
offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate
4 discussions with any entity at any time with or without notice.
The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package
Executive Summary 5 or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to
its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real
Estate Purchase Agreement prepared by Owner.
Property Photos 6-9 This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will
hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not
Location Map 10 photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing
Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you
will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.
Area Map 11 Broker has obtained the information contained in this Marketing Package from sources we believe to be
reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation
Market Overview 12 about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other
conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions,
assumptions, or estimates for example only, and they may not represent current or future performance of
Demographic Report 13 the Property. You and your tax and legal advisors should conduct your own investigations of the physical
condition of the Property and of the financial performance of its future Ownerships.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT BROKER FOR
MORE DETAILS.
For more information contact:
John R. Wertz Greg LaBarre
Tel: (619) 218-6427 Tel: (619) 997-1242
jwertz@wertzrealestate.com glabarre@wertzrealestate.com Listed with South Carolina broker
CA Lic No. 01448585 CA Lic. No. 02069301 David B Zacharia Lic. No. 87944
financial overview
OFFERING SUMMARY
PRICE $1,890,720
DOWN PAYMENT 100% / $1,890,720
RENTABLE SQUARE FEET 10,908 SF
cap rATE 7.50%
noi $141,804
year built 1999
lot size 1.65 +/- Acres
type of ownership Fee Simple
ACTUAL SITE
TENANT SUMMARY
TENANT TRADE NAME Dollar Tree
ANNUALIZED OPERATING DATA
OWNERSHIP Public
LEASE GUARANTOR Corporate Rent Increases Annual Rent Monthly Rent
lease commencement date 11/01/2019* Current - 10/31/24 $141,804.00 $11,817.00
lease expiration date 10/31/2024 11/01/24 - 10/31/29 $147,258.00 $12,271.50
increases Structured Every 5-Years
11/01/29 - 10/31/34 $152,712.00 $12,726.00
OPTIONS TO RENEW (2) 5-Year Options
LEASE TYPE Double Net (NN)
roof & structure Landlord Responsible BASE RENT $141,804.00
Property taxes Tenant Responsible NET OPERATING INCOME $141,804.00
INSURANCE Tenant Responsible
COMMON AREA Tenant Responsible
TOTAL RETURN yr-1 7.50% $141,804.00
REPAIRS & MAINTENANCE Tenant Responsible
HVAC & UTILITIES Tenant Responsible *Dollar Tree has operated at this location since 2009. In 2019, their
RIGHT OF FIRST REFUSAL No sublease with Rite Aid expired and Dollar Tree signed a new lease
with rent increasing from $7/SF to $13/SF.
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
TENANT overview
PROPERTY NAME Dollar Tree
DOLLAR TREE STORES, INC. PROPERTY ADDRESS 3100 Broad River Rd
Columbia, SC 29210
Dollar Tree Stores, Inc., is an American chain of discount variety
stores that sells items for $1 or less. Headquartered in Chesa- PROPERTY TYPE Discount Store
peake, Virginia, it is a Fortune 500 company and operates over PARENT COMPANY Dollar Tree
15,237 stores throughout the 48 contiguous U.S. states and
Canada. Its stores are supported by a nationwide logistics network
oWNERSHIP Public
of eleven distribution centers. The company operates one-dollar LEASE GUARANTOR Corporate
stores under the names of Dollar Tree and Dollar Bills. The compa-
stock symbol DLTR
ny also operates a multi-price-point variety chain under the Family
Dollar banner. BOARD NASDAQ
lease expiration 10/31/2024
Dollar Tree competes in the dollar store and low-end retail markets.
Each Dollar Tree stocks a variety of products including national, OPTIONS TO RENEW (2) 5-Year Options
regional, and private-label brands. Departments found in a Dollar INCREASES Structured Every 5-Years
Tree store include health and beauty, food and snacks, party, sea-
sonal décor, housewares, glassware, dinnerware, household year 1 net operating income $141,804
cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, no. of locations 15,000+
craft supplies, teaching supplies, automotive, electronics, pet sup-
plies, and books. Most Dollar Tree stores also sell frozen foods and
headquartered Chesapeake, VA
dairy items such as milk, eggs, pizza, ice cream, frozen dinners, website www.dollartree.com
and pre-made baked goods. In August 2012, the company began
years in the business 34 Years
accepting manufacturer's coupons at all of its store locations.
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
executive summary
INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS
The subject property is a Dollar Tree store located in Columbia, • Corporate Guarantee from Dollar Tree (NASDAQ: DLTR)
South Carolina. This location is one of Dollar Tree’s better
performing stores in the country, reflected by Dollar Tree’s • Strong Commitment to the Site - Dollar Tree has Operated at this
willingness to increase rent from $7/SF to $13/SF in the new lease Location Since 2009 and they Recently Executed a New 5-Year
they signed in 2019. Since 2009, Dollar Tree has been subleasing Lease Agreeing to Increase the Rent from $7/SF to $13/SF
the property from Rite Aid under a NNN lease structure and upon
• Located at a Busy Signalized Intersection & Hard Corner
signing the new NN lease in 2019, Dollar Tree accepted the
building in “as is” condition. • Excellent Access & Visibility on Broad River Road and St Andrews
with Traffic Counts Exceeding 58,000 Cars/Day
The building sits on a large 1.65 acre parcel at a busy signalized
intersection and hard corner just 5 miles from downtown • Over 116,000 Residents in the 5-Mile Radius with 3.71% Expected
Columbia. This Dollar Tree enjoys excellent access and visibility Population Growth Over the Next 5-Years
on Broad River Road and St Andrews Road with traffic counts
exceeding 58,000 vehicles per day. There are over 116,000 • Located on Large 1.65 Acre Parcel - Significant Intrinsic Land Value
residents in a 5-mile radius of the subject property with a 3.71%
expected population growth over the next 5-years. This Dollar
Tree site is a staple within the community and its location is far
superior to that of Dollar General and Family Dollar.
Columbia is home to the University of South Carolina, the state’s
flagship university. National retailers in the immediate vicinity
include O’Reilly Auto Parts, Walgreens, CVS, Dollar General,
T-Mobile, Shell, Bojangles, Sherwin Williams, Family Dollar, First
Citizens Bank, Circle K, Sonic, and more.
ACTUAL SITE
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AERIAL PHOTO
B
ro
ad
R
iv
er
R
oa
d
39
,0
00
V
PD
D
0 VP
00
19,
a d
Ro
s
r ew
d
An
St
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property
Br
oa
d
Ri
ve
r Ro
a d
St Andrews Road 19,000 VPD
39
,0
00
VP
D
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
subject property
Bro
ad
Riv
er R
oad
St And
rews R
oad
58,000 V
PD
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.LOCATION MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
AREA MAP The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.
MARKET overview
COLUMBIA, SOUTH CAROLINA
Columbia is the capital and second largest city in state of South Carolina. The city is located approximately 13 miles northwest of the geographic center of South Carolina and
lies at the intersection of the Saluda River and the Broad River. It is part of the greater Columbia-Newberry CSA with approximately 1 million residents. Columbia is the primary
hub city for the 8 Midland counties of Richland, Lexington, Calhoun, Fairfield, Kershaw, Orangeburg, Saluda, and Sumter. Columbia is home to the University of South Carolina,
the state's flagship university enrolling over 35,000 students. Columbia also home to Fort Jackson, the largest United States Army installation for Basic Combat Training.
Columbia is also the location of the South Carolina State House, which is the center of government for the state.
Columbia enjoys a central location with easy access to the world’s major markets and a highly educated workforce. Columbia’s centers of higher education include 4 technical
colleges and 6 independent senior colleges, in addition to the University of South Carolina. Nearly 40% of the population age 25 years and older possess a bachelor's degree or
higher. The region's economy is supported by advanced manufacturing, agribusiness, information technology, insurance technology and services, military and defense,
alternative energy, and transportation/logistics. Columbia is nationally ranked among the Top 5 Cities for Highway Connectivity with an interstate network that includes I-20, I-26,
I-77 and I- 95, and offers easy North to South and East to West access. Regional air transportation is provided by the Columbia Metropolitan Airport which also serves as the
Southeast Regional Air Hub for UPS covering nine states and the Port of Charleston, the eighth largest shipping terminal in the US, is located less than two hours away. Rail
service to Columbia is supported by both CSX Transportation and Norfolk Southern. Passenger rail service is provided by Amtrak.
The gross domestic product of the Columbia metropolitan statistical area as of 2015 was $34 billion, the highest among MSAs in the state. Columbia boasts over 30 companies
with international ties. Businesses from Australia, Belgium, Canada, China, Denmark, Finland, France, Germany, Italy, Japan, Luxembourg, the Netherlands, and the United
Kingdom are drawn to the strong transportation network and wonderful quality of life. Since 1988, these companies have invested over $1.5 billion into the local economy and
have added diversity to the local culture. Major domestic employers include the South Carolina State government, the Palmetto Health hospital system, Blue Cross Clue Shield
of South Carolina, Palmetto GBA, the University of South Carolina, Computer Sciences Corporation, Fort Jackson - the U.S. Army's largest and most active initial entry training
installation, Humana/TriCare, and the United Parcel Service, which operates its Southeastern Regional Hub at the Columbia Metropolitan Airport. Major manufacturers such as
Square D, CMC Steel, Spirax Sarco, Michelin, International Paper, Pirelli Cables, Honeywell, Westinghouse Electric, Harsco Track Tech, Trane, Intertape Polymer Group, Union
Switch & Signal, FN Herstal, Solectron, and Bose Technology have facilities in the Columbia area. There are over 70 foreign affiliated companies and 14 Fortune 500 companies
in the region.
Convenient Access to the Major The Columbia MSA Generates
Home to University of South
Markets of Atlanta, Charlotte, over $34 Billion in GDP, Among
Carolina (35,000+ Students)
Greenville, Charleston & Savannah the Highest in the State
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.DEMOGRAPHIC REPORT
ACTUAL SITE
population 1 MILE 3 MILES 5 miles households 1 MILE 3 MILES 5 miles
2025 Projection 12,455 53,812 121,000 2020 Est. Avg. HH Income $42,996 $57,595 $62,772
2020 Estimate 12,142 52,161 116,667 2025 Projection 5,994 23,032 52,106
2010 Census 12,132 50,798 112,106 2020 Est. Households 5,765 22,002 49,682
Percent Change 2010-2020 0.08% 2.68% 4.07% 2010 Census 5,577 20,728 46,399
Percent Change 2020-2025 2.66% 3.17% 3.71% Percent Change 2010-2020 3.37% 6.15% 7.08%
Median Age 31.35 35.33 36.43 Percent Change 2020-2025 3.97% 4.68% 4.88%
The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square
footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.Wertz Real Estate Investment Services
3138 Roosevelt Street, Suite L
Carlsbad, CA 92008
Tel: (619) 218-6427
Fax: (858) 408-1830
www.wertzrealestate.com
Listed with South Carolina broker
David B Zacharia license 87944You can also read
