Investment Offering
Dos Palos, CA - Family Dollar
1919 Almond Street | Dos Palos, CA 93620
$1,986,000
Price6.4%
Cap Rate$127,100
NOI9,180
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, investment grade (S&P: BBB-), corporate guaranteed, Family Dollar investment property located in Dos Palos, CA. The tenant, Family Dollar, Inc., recently executed a brand new 10-year lease with 4 (5-year) options to extend. The lease features 7% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, structure, parking lot, exterior plumbing, electrical lines, and fire sprinkler repair, making it an ideal, low-management investment opportunity for a passive investor. The lease is guaranteed by Family Dollar, Inc., a well-known discount grocer brand consisting of 15,012 stores in 48 states as of February 2, 2019.
Location
Family Dollar is located at the hard corner intersection of Almond Street and Center Avenue, two major thoroughfares serving the city of Dos Palos. The site is equipped with multiple points of ingress/egress along Center Avenue, providing ease and convenience for customers. The property is in the center of a primary retail corridor with nearby national/credit tenants including State Foods Supermarket, AutoZone Auto Parts, Dollar General, Circle K, and more. Strong tenant synergy within the immediate trade area increases consumer draw and promotes crossover shopping to the site. Moreover, Family Dollar is situated less than a quarter-mile east of Dos Palos High School, with nearly 700 students currently enrolled, providing a direct consumer base to draw from. The 5-mile trade area is supported by a population of nearly 10,000 residents with an average household income of $55,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215