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Miscellaneous

Dollar Tree

71737 Twentynine Palms Highway, Twentynine Palms, CA 92277

Listing Price: $2,325,900

Cap Rate
6.50%
Tenant Name
Dollar tree
Years Remaining On Lease
2.4
Guarantor
Corporate Guarantee
Rentable SF
15,506
Lease Type
Double Net
Rent Per Square Feet
$9.75

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Dollar Tree located in the primary grocery anchored center (Stater Bros) in the City of Twentynine Palms, California. The opportunity presents investors with a corporate guaranteed (S&P Rated: BBB) NN fee-simple lease with Dollar Tree one of the nations largest and most successful discount variety stores. The “essential use” operator has been operating at the site for over 10+ years and currently has just under two years of term remaining after exercising their first five-year option during the pandemic. The lease provides favorable $0.50 Price Per Foot increases every five years through the term and options. The site benefits from its highly traveled location on Twentynine Palms Highway (California-62) that sees over 14,500 cars per day on the substantial retail corridor adjacent to a Stater Brothers that anchors this shopping center. The site is located five miles south of The Marine Air Ground Combat Center that houses over 20,000 Marines and their Families stationed at the base and also Joshua Tree National Park to the south that attracted over 2.4 Million Visitors in 2020. The location benefits from a captive population of over 18,700 people and average household income of over $49,400 in a five-mile radius. Situated in a shopping center anchored by necessity-based uses such as Stater Brothers Market, Burger King, and Total Fitness. Other surrounding tenants include Rite Aid, Dollar General, Pizza Hut, Del Taco, Jiffy Lube, Motel 6, Holiday Inn, and the Fairfield Inn & Suites.

Investment Highlights

  • Long Term Occupancy - Under Two Years Remaining on Term with Options – Paying Low Rent Price Per Square Foot
  • NN Fee-Simple Lease with Minimal Landlord Responsibilities – Attractive $0.50 Price Per Foot Increases Every Five Years
  • Essential Use – Pandemic and Recession Resistant - Strong Corporate Guarantee by Dollar Tree Stores, Inc. (S&P: BBB)
  • Located in Areas 2nd Highest Visited Grocery Anchored Shopping Center with Stater Bros
  • 5.4 Miles From Joshua Tree National Park Covering 1,235 Square-Miles and Attracting 2.4 Million Visitors-Per-Year for Camping, Hiking, Rock Climbing and Exploration of Historical Landmarks
  • 5.5 Miles From Twentynine Palms Marine Corps Air Ground Combat Center - World's Largest Marine Corps Base Covering Over 930 Square Miles - 20,000 Soldiers and their families Stationed on Base and 50,000 Active Duty Marines and Reserves Train at the Combat Center Every Year

Exclusively Listed By

Financing By

Listing Price: $2,325,900

Cap Rate
6.50%
Tenant Name
Dollar tree
Years Remaining On Lease
2.4
Guarantor
Corporate Guarantee
Rentable SF
15,506
Lease Type
Double Net
Rent Per Square Feet
$9.75

Investment Highlights

  • Long Term Occupancy - Under Two Years Remaining on Term with Options – Paying Low Rent Price Per Square Foot
  • NN Fee-Simple Lease with Minimal Landlord Responsibilities – Attractive $0.50 Price Per Foot Increases Every Five Years
  • Essential Use – Pandemic and Recession Resistant - Strong Corporate Guarantee by Dollar Tree Stores, Inc. (S&P: BBB)
  • Located in Areas 2nd Highest Visited Grocery Anchored Shopping Center with Stater Bros
  • 5.4 Miles From Joshua Tree National Park Covering 1,235 Square-Miles and Attracting 2.4 Million Visitors-Per-Year for Camping, Hiking, Rock Climbing and Exploration of Historical Landmarks
  • 5.5 Miles From Twentynine Palms Marine Corps Air Ground Combat Center - World's Largest Marine Corps Base Covering Over 930 Square Miles - 20,000 Soldiers and their families Stationed on Base and 50,000 Active Duty Marines and Reserves Train at the Combat Center Every Year

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Dollar Tree located in the primary grocery anchored center (Stater Bros) in the City of Twentynine Palms, California. The opportunity presents investors with a corporate guaranteed (S&P Rated: BBB) NN fee-simple lease with Dollar Tree one of the nations largest and most successful discount variety stores. The “essential use” operator has been operating at the site for over 10+ years and currently has just under two years of term remaining after exercising their first five-year option during the pandemic. The lease provides favorable $0.50 Price Per Foot increases every five years through the term and options. The site benefits from its highly traveled location on Twentynine Palms Highway (California-62) that sees over 14,500 cars per day on the substantial retail corridor adjacent to a Stater Brothers that anchors this shopping center. The site is located five miles south of The Marine Air Ground Combat Center that houses over 20,000 Marines and their Families stationed at the base and also Joshua Tree National Park to the south that attracted over 2.4 Million Visitors in 2020. The location benefits from a captive population of over 18,700 people and average household income of over $49,400 in a five-mile radius. Situated in a shopping center anchored by necessity-based uses such as Stater Brothers Market, Burger King, and Total Fitness. Other surrounding tenants include Rite Aid, Dollar General, Pizza Hut, Del Taco, Jiffy Lube, Motel 6, Holiday Inn, and the Fairfield Inn & Suites.

Exclusively Listed By

Financing By

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