1500 Main StLebanon, TN 37087

Property Details for 1500 Main St

Year built

2002

Lot size

1.56 AC

Property size (Sq ft)

16,718 SF

Zone code

B4

Property type

Retail space

APN

057M B 00302

APU

057MB00302

Description

This exceptional investment opportunity presents a freestanding, single-tenant Dollar Tree store in Lebanon, Tennessee. The property boasts a newly renovated 13,824 square foot building situated on a 1.6-acre lot with ample parking (70 spaces). Secured by a corporate guarantee from Dollar Tree Stores, Inc. (NASDAQ: DLTR), this net-leased investment features a 10-year lease commencing January 23, 2023, and expiring January 31, 2033, with a remaining term of approximately 8.2 years. The lease includes rent bumps of $0.50 per square foot every five years. The property enjoys a prime location at a signalized intersection within a thriving retail corridor in a rapidly growing area, experiencing a 6.65% annual population growth rate. The property's strong performance is reflected in the current NOI of $283,392 and a 7.00% cap rate. Built in 2003 and renovated in 2023, this property is zoned B4 and offers a compelling investment opportunity with a strong tenant and significant upside potential. The asking price is $4,050,000, translating to a price per square foot of $292.97. The lease includes two 5-year renewal options. This is a fee simple ownership opportunity.

Location Insight

City

Lebanon

County

Wilson

State

Tennessee

Latitude

36.2175

Longitude

-86.3357

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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