Freestanding Dollar Tree Net
2433 RIDGE RD Lansing, IL 60438
2433 RIDGE RD, Lansing, IL, 60438
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For Sale
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Built in 2016, this single-tenant freestanding retail property is net leased to Dollar Tree with a corporate guarantee.
Property Size10,000 SF
Price / SF$176.80
Days on Market33
Property Features for 2433 RIDGE RD
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2016
Listing agency
Bang Realty
(888) 737-2264
Listed by
Brian Brockman · License #BRK.200900214
Source
Crexi
Added: Jun 19 Updated: Jul 21 at 4:45AM Checked: Jul 21 at 4:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
Investment Insights
Based on property information with market context.
Built in 2016, this freestanding, single-tenant net leased retail property was developed to Dollar Tree’s modern prototype and totals 10,000 SF on approximately 1 acre. The asset is supported by a corporate guarantee from Dollar Tree Stores, Inc. and offers more than 5 years remaining on the current net lease term. Three 5-year renewal options are in place, with $0.50 PSF rent increases, and the property also includes a transferable 10-year roof warranty and a 12-year tax reduction designation.
The store is located along Ridge Road in the Chicago metro near Walgreens, Burger King, and AutoZone. The offering notes strong visibility and steady consumer traffic, with over 359,000 annual visits reported in the trade area, supported by more than 220,000 residents and average household income above $86,000 within 5 miles.
The store is located along Ridge Road in the Chicago metro near Walgreens, Burger King, and AutoZone. The offering notes strong visibility and steady consumer traffic, with over 359,000 annual visits reported in the trade area, supported by more than 220,000 residents and average household income above $86,000 within 5 miles.
Key Highlights
- Built in 2016: 10,000 SF freestanding single‑tenant retail store leased to Dollar Tree
- Single‑tenant NN lease with more than 5 years remaining term and a corporate guarantee from Dollar Tree Stores, Inc.
- Three 5‑year renewal options included, each with $0.50 PSF rent increases
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $216.0k | $21.60 |
| − Vacancy | −$17.7k | −$1.77 |
| EGI | $198.3k | $19.83 |
| − OpEx | −$59.5k | −$5.95 |
| NOI | $138.8k | $13.88 |
10,000 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.98M
$1.74M – $2.31M
NOI $138,802 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.03M
NOI $241,678 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dollar Tree
Discount Store
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Built in 2016, this single-tenant freestanding retail property is net leased to Dollar Tree with a corporate guarantee.
Where is this nnn property located?
The property is located at 2433 RIDGE RD Lansing, IL.
What is the asking price?
The asking price for this property is $1,768,000.
What are key features of this property?
This property features: Built in 2016: 10,000 SF freestanding single‑tenant retail store leased to Dollar Tree; Single‑tenant NN lease with more than 5 years remaining term and a corporate guarantee from Dollar Tree Stores, Inc.; Three 5‑year renewal options included, each with $0.50 PSF rent increases
