3131 Broadway, Fargo, ND 58102
10,000 SF | Retail Building | Fargo, ND 58102 | $2,028,571 ($203/SF) | 7% Cap Rate
For Sale
Active
Asking Price $2,028,571
- Property Type
-
Retail
- Square Feet
- 10,000 SF
- Price / Square Foot
- $203
Listing Contacts
Nathan Whalen
Property Overview
Marcus & Millichap is pleased to present the Dollar Tree located in Fargo, North Dakota.
The 10,000 square foot building is located on the corner of 32nd Avenue North and Broadway North, with excellent visibility and easy accessibility. The building sits almost adjacent to the Hector International Airport, which sees over 900,000 passengers annually. The building sits in close proximity to the North Dakota State University campus, which has an enrollment over more than 9,900 students.
The building is currently being built, with estimated delivery scheduled for December 1, 2023. The lease is scheduled to commence on April 1, 2024, leaving a full 10-year lease term. The rent is flat with the first,
five-year renewal option, however there are scheduled rent increases in the remaining four, five-year options.
Dollar Tree was founded in 1986 and in 34 years has grown to more than 16,000 locations across 48 states and Canada. The tenant continues its impressive earnings and growth performance with an expected 650 stores opening in 2023. The company is publicly traded on the NASDAQ under the ticker “DLTR” and carries an investment credit rating of “BBB-” from S&P.
The 10,000 square foot building is located on the corner of 32nd Avenue North and Broadway North, with excellent visibility and easy accessibility. The building sits almost adjacent to the Hector International Airport, which sees over 900,000 passengers annually. The building sits in close proximity to the North Dakota State University campus, which has an enrollment over more than 9,900 students.
The building is currently being built, with estimated delivery scheduled for December 1, 2023. The lease is scheduled to commence on April 1, 2024, leaving a full 10-year lease term. The rent is flat with the first,
five-year renewal option, however there are scheduled rent increases in the remaining four, five-year options.
Dollar Tree was founded in 1986 and in 34 years has grown to more than 16,000 locations across 48 states and Canada. The tenant continues its impressive earnings and growth performance with an expected 650 stores opening in 2023. The company is publicly traded on the NASDAQ under the ticker “DLTR” and carries an investment credit rating of “BBB-” from S&P.
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store
- Lot Size (sq. ft)
- 22,651 SF
Highlights
- Brand-New 2023 Build-to-Suit Construction | Estimated Deliver 12/1/2023
- Full Term Remaining | Estimated Rent Commencement 4/1/2024 | Original 10-Year Lease
- 3 Miles from the Hector International Airport (908k Passengers Annually)
- 1.5 Miles from North Dakota State University Campus (9,900+ Enrollment)
- Dollar Tree Earnings Per Share up 1.5%¦Same Store Sales up 8.7%
- Modified Triple Net Lease | Landlord Responsible for the Roof & Structure
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