FAMILY DOLLAR | MESA, ARIZONA
INVESTMENT SUMMARY
Purchase Price
$2,335,000
Location
865 S Dobson Rd
Cap Rate
6.72%
Annual Rent
$160,928.04
Building Size
9,180 SF
Land Area
1.29 Acres
Ownership
Fee Simple
Lease Type
NNN
Term Remainning
5.25 Years
LEASE EXPIRATION
06/30/2029
Renewal Options
RENT INCREASES
CPI Every 3 Years (6% Max)
Parking
30 Spaces
Year Built
2016
APN
134-27-807 & 134-27-003-S
Traffic Counts
28,675 VPD
INVESTMENT HIGHLIGHTS
FAMILY DOLLAR CORPORATE LEASE:
- 2016 Construction - 9,180 SF
- Approximately 5.25 Years Remaining in the Initial 15 Year Lease Term
- Six (6) - Five (5) Year Option Periods
ABSOLUTE NNN LEASE | A TRUE COUPON CLIPPER:
- Absolute NNN Lease with ZERO Management Responsibilities
- Tenant Pays for ALL Operating Expenses, Insurance & Reimburses Property Taxes
RARE LEASE STRUCTURE:
- CPI-Based Rental Increases Every 3 Years During Initial Lease Term and Option Periods
- Next Rental Increase Dates = July 2025 & July 2028
LOCATION:
- Located at 3-Way Intersection at the Corner of S. Dobson Rd & W. Emelita Ave
- Traffic Counts of Approximately 28,675 Vehicles Per Day
- 2 Points of Ingress & Egress (S. Dobson Rd & W. Emelita Ave)
TRADE AREA DEMOGRAPHICS:
- 1-Mile Population = 23,200 Residents
- 1-Mile Annual Population Growth = 1.52%
- 1-Mile Average Household Income = $76,706
- 3-Mile Population = 167,392 Residents
- 3-Mile Annual Population Growth = 1.76%
- 3-Mile Average Household Income = $93,669
- 5-Mile Population = 393,787 Residents
- 5-Mile Annual Population Growth = 1.54%
- 5-Mile Average Household Income = $99,061
PROXIMITY FROM MESA, ARIZONA:
- Tempe, AZ | 5 Miles
- Scottsdale, AZ | 9 Miles
- Phoenix, AZ | 14 Miles
- Tucson, AZ | 108 Miles
TENANT:
- Strong Corporate Guaranty (NASDAQ: “DLTR”) - Dollar Tree, Inc. Is Rated “BBB-” by Standard & Poor’s
- 16,774 Stores as of February 3, 2024
- Ranked #137 on the Fortune 500 List
- In 2023, Consolidated Net Sales Increased 8.0% to $30.6 Billion
- In 2023, Family Dollar's Same-Store Net Sales Increased 3.2%