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    Dollar Tree/Family Dollar Hybrid Store Title is generated by Realmo AI

    1777 LA-121, Hineston, LA 71438

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    Built-to-suit store with a 10-year double net lease.

    Type:Retail
    Property size:
    10,500 SF
    Lot size:
    1.70 Acres
    Price / SF:
    $138/SF
    Added:
    Aug 12, 2022
    Days on Market:
    1395
    Last Refresh:
    May 19 at 11:04 pm

    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

    We can help!

    Listing Contact
    Mike Stinson, CCIM

    Listing agent Mike Stinson, CCIM License #LA SALE.0000071948-ACT

    Listing office Saurage Rotenberg Commercial Real Estate

    Listing date Aug 12, 2022

    Source Crexi

    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

    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.
    • Attractive 7.25% capitalization rate based on a net operating income (NOI) of $105,000.
    • Lease includes five (5) year renewal options with $0.50 PSF rent increase.
    • Located in an area with a five‑mile average household income in excess of $70,596.

    Overview

    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.

    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 (±1% cap)
    NOI $128,151 @ 7.0% cap · market cap 8.84%
    Second Best
    Retail
    $1.80M
    $1.58M – $2.11M (±1% cap)
    NOI $126,346 @ 7.0% cap · market cap 8.71%
    Theoretical Best
    Office A
    $2.89M
    $2.53M – $3.38M (±1% cap)
    NOI $202,608 @ 7.0% cap · market cap 13.97%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Hineston
    County
    Rapides
    State
    Louisiana
    Longitude
    -92.7964
    Latitude
    31.0802

    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 Hineston, 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.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Stinson, CCIM
    Real Estate License ID: LA SALE.0000071948-ACT
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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