Building Details

Year Built 2024

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Saurage Rotenberg Commercial Real Estate

Listed By: Mike Stinson, CCIM · License #LA SALE.0000071948-ACT

Source: Crexi

Added: Aug 12, 2022 Changed: Oct 7 Last Checked: Oct 19 at 3:43AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$128,151

Cap Rate

8.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,563,020 $2.6M

Cap Rate 7%

$1,830,729 $1.8M

Cap Rate 9%

$1,423,900 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,500 SF

Gross rent

$178.9K $17.04/SF

− Vacancy

−$8.1K −$0.77/SF

EGI

$170.9K $16.27/SF

− OpEx

−$42.7K −$4.07/SF

NOI

$128.2K $12.20/SF

Area

Rapides County, LA

Vacancy

4.50%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,563,020

Cap Rate 7%

$1,830,729

Cap Rate 9%

$1,423,900

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 authorities. How Realmo checks its estimates

Property Analytics

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 71438, LA

1,595

Population

459

Households

3.5

Avg Household Size

43

Median Age

10%

College-Educated

84%

High-School Grad

137.7 sq mi

ZIP Area

12

Density / Sq Mi

$56,516

Median Household Income

$46,000

Median Earnings

$157,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

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.