Address: 1203 US Highway 271 N, Gilmer, Texas, United States 75644
Type: Net Leased Dollar Store
Cap Rate: 6.50%
Lease Type: Double-Net (NN)
Annual Rent: $96,750
Net Operating Income: $96,750
Lease Term Remaining: 10 Years
Rental Increases: $.50/SF in each option period
Options: Three, Five-Year Options
Year Built: 2018
Rentable Sq/Ft: 9,000 SF
Rent Sq/Ft: $10.75
Price Sq/Ft: $165
Lot Size: +/-0.84 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Dollar Tree at located at 1203 U.S. Highway 271 N Gilmer, Texas. The property consists of approximately 9,000 square feet of building space and is situated on approximately .84 acres of land. The property is subject to a Brand New 10 year double-net (NN) lease. The current rent is $96,750 with rental increases in each of the three, five year tenant renewal options.
This Dollar Tree property is located at 1203 U.S. Highway 271 North Gilmer, Texas. Gilmer is located two hours East of Dallas and approximately 45 minutes north of Tyler, Texas.
The subject property is well-positioned in a dense retail corridor, benefiting from its proximity to major national and local retailers. Directly, across from the Gilmer Civil Center, the property neighbors a Walmart. Other retailers in the vicinity to the property include McDonalds, Sonic, Brookshires Grocery, Jack in the Box, Schlotskys, Pizza Hut, Whataburger, AutoZone and regional banks including First National Bank of Gilmer and the Gilmer National Bank. There are several sites that include new construction and recent remodeling in the immediate area.
The property is across from the Yamboree Park, offering area residents multiple Basketball, tennis and baseball courts. This park is home to the annual East Texas Yamboree, a festival with 81 year history with over 100,000 attending annually. Gilmer High School is near the site, with over 1,200 students enrolled.
There are approximately 8,700 individuals residing within a five-mile radius of the property and just over 20,000 individuals within a ten-mile radius. The subject property is situated on US 271 North with average daily traffic counts of 17,100 vehicles.
Tyler has the nickname “Rose Capital of the World”. It gained this name due to the large quantity of rose bushes processed through the area, along with hosting America’s largest rose garden. As a regional educational and technology center, Tyler is the host for more than 20,000 higher education students, a College of Engineering, and a University Health Science Center, two regional, billion-dollar hospital systems, and a variety of technology startups Tyler State Park is a few miles away where visitors can camp, canoe, and paddle boat on the lake. Activities include picnicking, camping, boating, fishing, birding and hiking amongst others. Tyler is a nexus of several major highways. Interstate 20 runs along the north edge of the city going east and west, U.S. Highway 69 runs north-south through the center of town and State Highway 64 runs east-west through the city. Tyler also has access to U.S. Highway 271, State Highway 31, State Highway 155, and State Highway 110.
Broker of Record: Timothy Speck – License # 432723