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Grocery Store

Family Dollar

26534 9th St, Highland, CA 92346

Listing Price: $2,655,000

Cap Rate
5.80%
Tenant Name
Family Dollar, Inc.
Years Remaining On Lease
4.4
Gross SF
8,500
Guarantor
Corporate Guarantee
Rentable SF
8,500
Price/Gross SF
$312.35
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.12

Investment Overview

Marcus & Millichap is pleased to present an exclusive investment opportunity to acquire a net leased corporate Family Dollar nestled in the foothills of the San Bernardino Mountains. Located just one mile northeast of the San Bernardino International Airport, the site is surrounded by a tremendous density of residential population. A well-performing location for Family Dollar, the original 10-year net lease with Family Dollar, Inc. was signed in April 2018 and has five 5-year renewal options beginning in October of 2028. Each option period signifies a 10% rental increase. This lease was signed in 2018 to apparently address the growing demand for additional retail space due to the strong performance of a nearby, corporately-owned store on Base Line Street, just northeast of this location.

Situated upon ±0.71 acres of land, this inline space located within the larger Rio Ranch shopping center and consists of ±8,500 square feet.

Architectural plans and environmental inspections will be included with the delivery of due diligence materials. The materials will help to facilitate a potential purchaser’s expedited review of the property as they provide confidence in the building’s history and do not reflect any environmental concerns.

A low market rent of $1.51/sf NNN creates a long-term ease of occupancy for the investment grade credit tenant.

Investment Highlights

  • Strong Performing Corporate Triple Net-Leased Family Dollar
  • 10% Increases in Each of Five 5-Year Options to Renew
  • Extremely Dense Population Exceeding 102,337 Residents in the Three Mile Radius With an Average Household Income of $69,021
  • High-Profile Signalized Intersection of 9th Street @ Victoria Strong Workforce Demand Drivers to Highland, CA Due to Regional Growth in Major Distribution Facilities, Airport Expansion, New San Bernardino Fire District Training Facility and More
  • Robust Business Levels at Nearby Family Dollar Warranted Expansion to New Subject Site at 26534 9th Street
  • Recent $300 Million Investment by Amazon for Its New 100-Acre Amazon Air Regional Hub
  • Prime Location Less Than One Mile from San Bernardino International Airport (SBD)

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (818) 212-2750

    License(s) CA: 01240999,00530854,01204293

    California

Financing By

Grocery Store

Family Dollar

Listing Price: $2,655,000

Cap Rate
5.80%
Tenant Name
Family Dollar, Inc.
Years Remaining On Lease
4.4
Gross SF
8,500
Guarantor
Corporate Guarantee
Rentable SF
8,500
Price/Gross SF
$312.35
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.12

Investment Highlights

  • Strong Performing Corporate Triple Net-Leased Family Dollar
  • 10% Increases in Each of Five 5-Year Options to Renew
  • Extremely Dense Population Exceeding 102,337 Residents in the Three Mile Radius With an Average Household Income of $69,021
  • High-Profile Signalized Intersection of 9th Street @ Victoria Strong Workforce Demand Drivers to Highland, CA Due to Regional Growth in Major Distribution Facilities, Airport Expansion, New San Bernardino Fire District Training Facility and More
  • Robust Business Levels at Nearby Family Dollar Warranted Expansion to New Subject Site at 26534 9th Street
  • Recent $300 Million Investment by Amazon for Its New 100-Acre Amazon Air Regional Hub
  • Prime Location Less Than One Mile from San Bernardino International Airport (SBD)

Investment Overview

Marcus & Millichap is pleased to present an exclusive investment opportunity to acquire a net leased corporate Family Dollar nestled in the foothills of the San Bernardino Mountains. Located just one mile northeast of the San Bernardino International Airport, the site is surrounded by a tremendous density of residential population. A well-performing location for Family Dollar, the original 10-year net lease with Family Dollar, Inc. was signed in April 2018 and has five 5-year renewal options beginning in October of 2028. Each option period signifies a 10% rental increase. This lease was signed in 2018 to apparently address the growing demand for additional retail space due to the strong performance of a nearby, corporately-owned store on Base Line Street, just northeast of this location. Situated upon ±0.71 acres of land, this inline space located within the larger Rio Ranch shopping center and consists of ±8,500 square feet. Architectural plans and environmental inspections will be included with the delivery of due diligence materials. The materials will help to facilitate a potential purchaser’s expedited review of the property as they provide confidence in the building’s history and do not reflect any environmental concerns. A low market rent of $1.51/sf NNN creates a long-term ease of occupancy for the investment grade credit tenant.

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (818) 212-2750

    License(s): CA: 01240999,00530854,01204293

    California

Financing By

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