Investment Overview

Marcus & Millichap has been selected exclusively to market for sale Dollar Tree Center, a high-yield two-tenant NNN retail strip located Grants Pass, OR (Medford, OR MSA). The opportunity offers investors a highly attractive 14.07% cash-on-cash return in their first year of ownership. Additionally, Grants Pass retail market rents have increased more than 9.2% over the past three years, per CoStar, offering an investor long-term upside throughout their ownership. Both Dollar Tree and A-1 Market operate on NNN leases, reimbursing the Landlord for their pro-rata share of CAM expenses, insurance, and property taxes. Dollar Tree has been operating at this location since 2001, and exercised a 5-year option in 2022, demonstrating strong commitment to the site. The lease is corporately guaranteed by Dollar Tree, Inc. (NYSE: DLTR), ranked 139 on the Fortune 500 with over 9,000 stores in the US and Canada. A-1 Market exercised its first 5-year option early at a rental rate 17% higher than the previous rent and 2 additional options to extend. Both leases offer rent escalations through their terms, providing an investor a long-term hedge against inflation. Dollar Tree features 10% rent increases every 5 years, and A-1 Market features 1% annual increases. Dollar Tree opened 725 new stores in 2024 and renovated 1,621 existing stores. The A-1 Market lease is guaranteed by the operating entity that operates all 10 of its locations and also features a Personal Guaranty from both owners. The location is ideal for both Dollar Tree and A-1 Market, serving a community of over 54,000 residents within a 5-mile radius, with average household incomes of approximately $70,000.