Located at 3604 Buffalo Road Wesleyville, Pennsylvania, this Net-Leased Dollar Tree property consists of an 11,325 sq.ft building that sits on a huge 1.98-acre parcel of land. The subject property is situated in Erie County, which is just a couple miles outside Erie and only two miles from Lake Erie. It is located at the signalized intersection of Water Street and Buffalo Road and sees a traffic count of more than 21,000 vehicles per day. The immediate area has a population of more than 100,000 residents with an average annual household income of over $60,000. The company has no direct competition at this location. Dollar tree has recently signed a new five year Net lease (NN) that includes a landlord responsibility of roof and structure maintenance. The previous tenant was Rite Aid that sublet the property to Dollar Tree. Dollar Tree immediately signed a five-year lease agreement in May 2017 once Rite Aid’s contract terminated.
DOLLAR TREE, INC., formerly known as Only $1.00, is the world’s leading operator of discount variety stores. In its 219 deals stores, the Company offers value merchandise at prices above $1, and merchandise worth CAD 1.25 at this 210 stores in Canada. The company operates over 13,600 stores across 48 states in the USA and five Canadian provinces that are backed by a coast-to-coast logistics network, including over 90,000 associates. Dollar Tree currently has an S&P credit rating of “BB.”
This investment property is suitable for a 1031 exchange.
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