We exclusively represent buyers
NNN Dollar Tree for Sale
Dollar Tree is rated BBB by S&P, which is investment grade, and the typical Dollar Tree lease runs 10 years with flat rent through the initial term (The Boulder Group, Net Lease Tenant Profiles, September 2026). For investors, that means a national value retailer and simple, predictable income.
BBB
S&P credit rating
9,200+
Stores in the U.S. and Canada
10 Years
Typical lease term
Flat
Rent in the initial term
10,000 SF
Typical building size
Double Net
Typical lease type
Sources: The Boulder Group, Net Lease Tenant Profiles, September 2026; Dollar Tree, March 16, 2026 (store count).
Key Takeaways
Strong Tenant & Credit Profile
Dollar Tree, Inc. (NASDAQ: DLTR) is a publicly traded value retailer rated BBB by S&P (The Boulder Group, Net Lease Tenant Profiles, September 2026), with more than 9,200 stores in 48 states and Canada (Dollar Tree, March 16, 2026).
Short, Simple Leases
The typical Dollar Tree lease runs 10 years with flat rent through the initial term. Boulder lists it as double net rather than triple net, so confirm who handles the roof and structure (The Boulder Group, Net Lease Tenant Profiles, September 2026).
Attractive Cap Rates
Dollar Tree properties currently show asking cap rates of 7.10% – 7.50% with 10 years remaining and 8.00% – 8.30% with 5 years remaining (The Boulder Group, Net Lease Tenant Profiles, September 2026), in line with Dollar General at similar terms.
Growing Multi-Price Format
Dollar Tree opened 402 stores in fiscal 2025 and ended the year with about 5,300 stores in its multi-price format, with same-store sales up 5.3% (Dollar Tree, March 16, 2026).
Dollar Tree NNN Cap Rates and Lease Data
Before you look at a specific Dollar Tree property, it helps to know where the market prices them and what kind of lease you’re buying into. Here’s what the numbers say.
Dollar Tree is rated BBB, which is investment grade, with a typical building of 10,000 SF.1 The typical lease runs 10 years with flat rent through the initial term, so your income is predictable but won’t grow until the option periods. Boulder also lists the typical lease as double net rather than triple net. Double net leases generally leave the roof and structure with the landlord, so confirm exactly who pays for what on any property you’re considering.
On pricing, Boulder shows asking cap rates of 7.10% – 7.50% with 10 years left on the lease and 8.00% – 8.30% with 5 years left.2 As the remaining term gets shorter, the yield goes up, because you’re being paid to take on the question of whether Dollar Tree renews.
In dollars, Boulder puts the average sale price at about $2.03 million with average rent of about $145,000 a year. On a typical 10,000 SF store, that works out to roughly $203 per square foot.3
1. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 33. Credit rating is S&P, as reported by Boulder. Lease type, typical term and escalations (flat during the initial term) are also from Boulder. ↩
2. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 33. Asking cap rates as of September 2026. Boulder does not list a 15-year range for Dollar Tree. ↩
3. The Boulder Group, Net Lease Tenant Profiles, September 2026, p. 33. Average sale price and average rent as reported by Boulder; the per-square-foot figure is our calculation (about $2.03 million across a typical 10,000 SF store). ↩
Dollar Tree as a Tenant
How Dollar Tree operates
Dollar Tree is a national value retailer with about 150,000 associates, operating more than 9,200 stores and 18 distribution centers across 48 contiguous states and seven Canadian provinces (Dollar Tree, March 16, 2026). It began as a single-price retailer and has expanded into a multi-price format, which now covers about 5,300 stores after roughly 2,400 conversions and additions in fiscal 2025.
The typical Dollar Tree building is about 10,000 square feet, and the typical lease runs 10 years with flat rent during the initial term (The Boulder Group, Net Lease Tenant Profiles, September 2026). For investors, that means a short, simple lease whose income doesn’t grow until the option periods, so the price you pay and the years remaining matter more than rent bumps. Check which entity signs the lease on any specific property, since credit ratings apply to the parent company.
Financial strength and growth
Dollar Tree is rated BBB by S&P (The Boulder Group, Net Lease Tenant Profiles, September 2026). Fiscal year 2025, which ended January 31, 2026, brought net sales of $19.4 billion from continuing operations, up 10.4% from the prior year, with same-store sales up 5.3% (Dollar Tree, March 16, 2026). Review its current credit ratings from the major agencies as part of your due diligence; its SEC filings and reports are available on its investor relations site.
It is still growing. Dollar Tree opened 402 stores in fiscal 2025 and expects about 400 openings and 75 closings in fiscal 2026 (Dollar Tree, March 16, 2026).
In July 2025, Dollar Tree sold its Family Dollar business to Brigade Capital Management and Macellum Capital Management for a base price of $1,007.5 million to focus on its core business (Dollar Tree, July 7, 2025). The two chains now have different owners and credit profiles: Dollar Tree is rated BBB, while Family Dollar is privately held and not rated (The Boulder Group, Net Lease Tenant Profiles, September 2026).
Why Investors Buy Dollar Tree Properties
Dollar Tree pairs an investment-grade credit rating with a short, simple lease. That makes the income easy to underwrite, and a national value retailer with more than 9,200 stores is a tenant that is easy to understand.
Pricing is also close to Dollar General’s. With 10 years remaining, The Boulder Group’s September 2026 asking range of 7.10% – 7.50% compares with 7.20% – 7.50% for Dollar General, even though a Dollar General lease is typically longer (15 years) and adds 5% rent increases every five years. With 5 years remaining, Dollar Tree’s 8.00% – 8.30% compares with 8.00% – 8.50% for Dollar General.
The price of entry is similar too: Boulder puts the average Dollar Tree sale at about $2.03 million, against about $2.1 million for Dollar General. Add the store growth and financial results above, and it is a straightforward fit for a net lease portfolio.
Risks and Market Conditions
Investing in Dollar Tree properties comes with some risk. The typical lease is double net, and flat rent means no built-in growth until the options, so your income won’t keep pace with inflation during the initial term. A 10-year term also puts the renewal decision closer than it would be on a 15-year lease.
Dollar Tree is also closing stores while it opens others, with about 75 closings planned for fiscal 2026 (Dollar Tree, March 16, 2026), and store performance still depends on the local market. When you evaluate a specific store, look at its location and sales if available, the years remaining on the lease, and which entity signs it.
Build a Diversified NNN Portfolio
Pairing a Dollar Tree with other net-lease brands spreads risk across tenants, industries and markets. Compare other brands we help buyers acquire:
Dollar Tree NNN FAQs
Are Dollar Tree leases corporate-backed?
Dollar Tree, Inc. (NASDAQ: DLTR) is rated BBB by S&P (The Boulder Group, Net Lease Tenant Profiles, September 2026) and reported net sales of $19.4 billion from continuing operations for fiscal 2025 (Dollar Tree, March 16, 2026). The rating applies to the parent company, so confirm which entity signs the lease on any property you consider.
How long are Dollar Tree leases?
The typical Dollar Tree lease runs 10 years with flat rent during the initial term, followed by renewal options (The Boulder Group, Net Lease Tenant Profiles, September 2026). More years remaining reduce vacancy risk and generally support resale value.
Are Dollar Tree properties eligible for 1031 exchanges?
Yes. Their consistent rental income and lower turnover risk make them valuable for investors completing 1031 exchanges.
Questions about NNN Dollar Tree Properties for Sale?
Choosing Triple Net Companies, Inc. means choosing a partner with decades of exclusive buyer representation, a proven track record, and access to the best properties and financing options.
Contact us today to learn more about how we can help you achieve your investment goals.
Contact Our Team →Disclaimer
Market data, cap rates, and tenant statistics on this page come from third-party reports and company disclosures, cited in the footnotes. We believe these sources are reliable but do not guarantee their accuracy or completeness. Figures reflect the date of each source and change with market conditions, so verify current numbers before relying on them.