Family Dollar

742 Academy Avenue, Sanger, CA 93657

$2,997,000

Cap Rate 6.35%

Views: 20 DOM: 84 Updated: 04.28.24 Posted: 02.22.24 Status: Active

Summary

Price $2,997,000	Built/Renov 2014	Tenant Family Dollar
Cap Rate 6.35%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 9,245	Lease Start 10-09-2014	#Units 8,206
Price/SF $324.18	Expiration 03-31-2029	Tenant Type Dollar/Discount
NOI $190,300	R. Term 4.10	Ownership Fee Simple
Rent/SF $20.58	Increases 10.0%/5/yrs	Pop 5Mi 35,045
Lot/AC 0.98	Options 3/5yrs/10%	AHHI 5Mi $73,736

Lease Highlights

Family Dollar has 5 years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental escalations every 5 years throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Family Dollar is strategically located on Academy Avenue, the primary north/south thoroughfare, with access to 786 vehicles passing by daily. The property benefits from its adjacency to new retail developments and its proximity to national retailers, including Bank of America, Burger King, Chase Bank, Denny’s, Dutch Bros, CVS, and more. Additionally, this location ranks #460 out of 6,659 in...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Hospital close
Strong tenant synergy
Top 100 MSA
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar Wikipedia Family Dollar Wikipedia Sanger, California Zip Code 93657 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Family Dollar
Guarantor:Corp T and Rated
Company:Dollar Tree, Inc.
# Units:8,206
Tenant S&P: BBB
Moody’s: Baa2
Stock: NASDAQ: DLTR

About Tenant

Family Dollar is an American retail, variety discount store chain, with over 8,000 locations in all states except Alaska and Hawaii. The chain operates general merchandise retail discount stores...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	18,731	29,588	34,338
2023 Total Population :	18,725	29,252	34,000
2023 Employed Civilian Pop :	7,630	12,205	14,464
2023 Total Businesses :	407	611	737
2023 Average Household Income :	$ 75,084	$ 87,777	$ 90,480
2023 Total Consumer Spending :	$ 360 M	$ 646 M	$ 777 M
2023 Median Age :	31	31	32
2023 Total Households :	5,457	8,427	9,859
2023 Pop Age 25+: Bachelor's Degree :	774	1,753	2,297
2023 Average Home Value :	$ 349,809	$ 391,963	$ 412,175

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Academy Ave	Church Ave	2005	7,058	0.57 mi
S Newmark Ave	E Buck Way	2000	1,491	0.83 mi
S Newmark Ave	E Buck Way	2013	1,900	0.84 mi
E Annadale Ave	S Newmark Ave	2013	2,000	0.84 mi
		2000	1,388	0.86 mi
S Newmark Ave	E Annadale Ave	2013	2,400	0.89 mi
E Annadale Ave	S Newmark Ave	2013	2,100	0.91 mi
North Ave	Academy Ave	2002	5,743	0.92 mi
E North Ave	James St	2002	5,618	0.93 mi
E North Ave	de Witt Ave	2002	5,865	1.01 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

117 Listings
5244 Views
50 Sold

Jeff Lefko

Hanley Investment Group

Contact

115 Listings
5115 Views
54 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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