811 E Spruce St
Mitchell, SD 57301

Marcus & Millichap is pleased to exclusively present for your acquisition review the Dollar Tree and H&R Block investment in Mitchell, South Dakota. The 10,440 square foot retail center is made up of 2 suites and sits on about 1.47 acres along E Spruce Street. Dollar Tree and H&R Block are shadow anchored by a Walmart Supercenter, Menards and a Tractor Supply Company. Cabela’s has an 80,000 square foot showroom across the street from the subject property. Cabela’s engages customers with lifelike taxidermy, local fish swimming in massive aquariums and an indoor archery test area. The center is surrounded by other national retailers like GameStop, Maurices, Great Clips, AT&T, Hibbett Sports, CATO Fashion, Dollar Tree, Verizon, Hardee’s, Culver’s and a Holiday Inn Express & Suites. The Mitchell Technical Institute is on the northeast corner of the E Spruce Street and 410th Avenue intersection and provides a consistent flow of traffic to both Dollar Tree and H&R Block. There is a small pocket of retail and hotels in front of the Institute, home to a Comfort Inn & Suites, a Hampton Inn and Ruby Tuesday, Taco Bell, Quizno’s and Mattress Firm. Dollar Tree and H&R Block is a 100 percent occupied two-tenant center and is fully stabilized with zero lease rollover risk. Dollar Tree has more than 6 years left on the current base term and H&R Block has more than 7.5 years left on their base lease term. There are rent increases in the base term for both tenants, and Dollar Tree has additional increases in the option periods. The leases are triple net with each tenant fully reimbursing for their pro rata share of all expenses. This investment offers the perfect mix of stability and value-add opportunities, being fully occupied with zero lease rollover and several future rent increases.