Dollar Tree/Family Dollar Hybrid
1777 LA-121 Leander, LA 71438
1777 LA-121, Leander, LA, 71438
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For Sale
Contact for pricing
Built-to-suit store with a 10-year double net lease.
Property Size10,500 SF
Lot Size1.70 Acres
Price / SF$138.10
Days on Market1440
Property Features for 1777 LA-121
General Information
- Standard status
- Active
- Size
- 10,500 SF
- Lot size
- 1.70 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing agency
Saurage Rotenberg Commercial Real Estate
Listed by
Mike Stinson, CCIM · License #LA SALE.0000071948-ACT
Source
Crexi
Added: Aug 12, 2022 Updated: Jul 6 at 8:12AM Checked: Jul 19 at 3:41AM
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 Saurage Rotenberg Commercial Real Estate
Investment Insights
Based on property information with market context.
This built-to-suit 10,500 square foot Dollar Tree & Family Dollar hybrid store is located in Hineston, Louisiana. The property is subject to a ten-year double net lease, assigning minimal landlord responsibilities. The lease includes five, five-year options to renew, each with a $0.50 per square foot rent increase. The lease is corporately guaranteed by Dollar Tree Corporation, which holds a credit rating of "BBB-", classified as investment grade. The store is positioned in the heart of Hineston, directly off Highway 121, which sees over 2,557 cars per day. The five-mile population is 2,649 with an average household income exceeding $70,596. The property, built in 2024, sits on 1.70 acres. The lease, which commenced on June 1, 2024, and ends on May 31, 2034, generates an annual rent of $105,000. Tenant is responsible for taxes, insurance, and CAM, while the landlord maintains responsibility for the roof, structure, and parking. Dollar Tree, Inc. operates discount retail stores in the United States and Canada, with over 15,000 stores and a revenue exceeding $24 billion. The company is ranked #134 on Fortune 500 in 2020.
Key Highlights
- Corporately guaranteed lease by Dollar Tree Corporation with an investment‑grade credit rating of 'BBB-'.
- New 10,500 SF Dollar Tree & Family Dollar hybrid store with a brand new 10‑year double net (NN) lease.
- Strategically located in the heart of Hineston, LA, with high visibility directly off Hwy. 121.
Local Financial Insights For Specialty 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 | $178.9k | $17.04 |
| − Vacancy | −$8.1k | −$0.77 |
| EGI | $170.9k | $16.27 |
| − OpEx | −$42.7k | −$4.07 |
| NOI | $128.2k | $12.20 |
10,500 SF · lease $17.04/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.83M
$1.60M – $2.14M
NOI $128,151 @ 7.0% cap · market cap 8.84%
Second Best
Retail
$1.80M
$1.58M – $2.11M
NOI $126,346 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,608 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
FAQs
What type of property is this?
Grocery and convenience store - Built-to-suit store with a 10-year double net lease.
Where is this grocery and convenience store located?
The property is located at 1777 LA-121 Leander, LA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Corporately guaranteed lease by Dollar Tree Corporation with an investment‑grade credit rating of 'BBB-'.; **New 10,500 SF Dollar Tree & Family Dollar hybrid store** with a brand new 10‑year double net (NN) lease.; Strategically located in the heart of Hineston, LA, with high visibility directly off Hwy. 121.
