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Family Dollar Tree, Bloomer, WI

Family Dollar Tree, Bloomer, WI


Investment Summary

Price $1,825,000
Cap Rate
NOI
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure
Rental Increases Scheduled rental increases in option periods
Year Built 2023
Building Size 10,500 SF
Lot Size 0.93 acres (40,576 SF)
Status Closed
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Russell Train
Brokerage
202.210.2379
russell.train@cushwake.com
CA RE License #02087816

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG TERM LEASE TO NATIONAL TENANT WITH INVESTMENT GRADE CREDIT
» Family Dollar, Inc. and Dollar Tree, Inc. are rated “BBB” by Standard & Poor’s
» Net lease to Family Dollar Stores with multiple option periods
» Rental increases in option periods, providing a hedge against inflation
» Dollar Tree Inc. (Family Dollar’s Parent Company) operates over 16,000 stores and has annual sales of over $26B
» In Q4 2022, Dollar Tree and Family Dollar same-store sales increased 8.7% and 5.8%, respectively
» In Q2 2023, Dollar Tree opened 118 new stores and completed 276 Family Dollar store renovations
» Compared to current small-market locations, the Family Dollar and Dollar Tree Combo Store is delivering comp sales that exceed 20%, meaning higher gross profit margins and improved operating income

HARD CORNER LOCATION WITH 10,200 VEHICLES PER DAY ADJACENT TO HIGH SCHOOL
» High-visibility location at the intersection of State Highway 40 / 17th Avenue and Oak Street with access to a combined 10,200 vehicles per day
» Well-positioned by the State Highway 53 (15,800 AADT) and situated near national tenants including McDonald’s, Hardee’s, Subway, Dairy Queen, Ace Hardware, and more
» Beneficial proximity to Bloomer High School (396 students), providing a reliable, everyday customer base
» Supported by a five-mile-radius population of 5,950 residents with an average household income of $68,497 that is projected to increase by 15% by 2028
» Projected income increases within 5-, 10-, and 15-mile radii over the next five years, poising this Dollar Tree & Family Dollar combo store and Bloomer for steady concurrent growth
» Gateway to Eau Claire, the 2nd-fastest growing major city and the 8th largest city in Wisconsin with a population of 69,441

NEW 2023 HIGH-QUALITY CONSTRUCTION
» High-quality 2023 construction of a new Family Dollar & Dollar Tree combo store open and operating at a high level
» Site features ample parking (42 total spaces) on a 0.93-acre parcel
» Family Dollar & Dollar Tree combo stores are reporting 20% more same-store sales compared to standalone stores

Property Description

SOLD

» High-Visibility Location: Located at the intersection of State Highway 40 / 17th Avenue and Oak Street (10,200 AADT) and easily accessible with three entry points
» Convenient Retail Option: This Family Dollar & Dollar Tree combination store is an attractive choice for residents, proven by a 20% increase in same-store sales compared to their standalone stores
» Reliable Nearby Customer Base: Beneficial proximity to Bloomer High School (396 students) as well as other national tenants including McDonald’s, Dairy Queen, Ace Hardware, and more
» Gateway to Eau Claire: This site is situated in proximity to Eau Claire, Wisconsin’s second-fastest growing major city after Madison and the state’s eighth-largest city with a population of 69,441
» Poised to Serve Growing Suburb: Projected income increases of at least 13% within 5-, 10-, and 15-mile radii by 2028

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