315 15Th StCanyon, TX 79015

Property Details for 315 15Th St

Year built

2024

Lot size

1.03 AC

Property size (Sq ft)

10,000 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,000-square-foot Dollar Tree store in Canyon, Texas. Built in 2024, the property boasts a strong 10-year net lease with a credit-rated, corporate guarantee from Dollar Tree Inc., commencing April 14, 2025, and expiring April 29, 2035. The lease includes six, five-year options with $0.50 per square foot rental increases. The property enjoys a 7.50% cap rate and a current net operating income (NOI) of $147,000, with a price per square foot of $196. Located on a 1.03-acre corner lot at 315 N 15th St (79015), the property benefits from high visibility on a major intersection with a combined daily traffic count of 27,720 vehicles. The surrounding area features a strong residential base with an average household income exceeding $101,000, proximity to West Texas A&M University, and other major retailers, ensuring consistent customer traffic. This single-tenant, 100% occupied property offers a secure and lucrative investment opportunity with minimal landlord responsibilities. The property is situated in a thriving community with a population exceeding 23,000 within a five-mile radius.

Location Insight

City

Canyon

County

Randall

State

Texas

Latitude

34.9857

Longitude

-101.929

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