Family Dollar

601 Skyline Blvd, Avenal, CA 93204

$2,207,000

Cap Rate 8.00%

Views: 154 DOM: 527 Updated: 09.16.24 Posted: 04.10.23 Status: Active

Summary

Price $2,207,000	Built/Renov 2012	Tenant Family Dollar
Cap Rate 8.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 8,320	Lease Start 10-03-2012	#Units 8,359
Price/SF $265.26	Expiration 06-30-2027	Tenant Type Dollar/Discount
NOI $176,550	R. Term 2.9	Ownership Fee Simple
Rent/SF $21.22	Increases 5.0%/4/yrs	Pop 5Mi 48,956
Lot/AC 0.71	Options 3/5yrs/5%	AHHI 5Mi $58,552

Lease Highlights

Family Dollar recently executed a 5-year extension (2022-2027) with an additional 3 (5-year) options
Lease features a 5% rent increase in July 2027 and at the beginning of remaining options
Top performing store (#1 Family Dollar in the U.S. by Traffic)
Favorable NN+ | Landlord responsible for roof & structure
Corporate guaranteed lease (NASDAQ: DTLR)
Investment grade tenant (S&P: BBB)

Location Description

The property is located at a hard corner, signalized intersection along Skyline Boulevard, the primary commuter and retail corridor in Avenal. Skyline Boulevard connects E Leneva Blvd (Highway 33), a local north/south highway, to West Side Freeway (I-5), an interstate that runs from San Francisco to Los Angeles. The prominent site has great visibility and access, benefiting from points of...

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Key Features

Signalized intersection
Hard corner intersection
Highway close
Recently extended lease
Limited competition
Favorable NN+ lease
Top performing store
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Family Dollar Wikipedia Family Dollar Wikipedia Avenal, California Zip Code 93204 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:8,359
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,119	13,796	13,842
2023 Total Population :	9,124	13,796	13,841
2023 Employed Civilian Pop :	3,026	3,151	3,169
2023 Total Businesses :	130	139	139
2023 Average Household Income :	$ 64,858	$ 64,736	$ 64,722
2023 Total Consumer Spending :	$ 136 M	$ 142 M	$ 142 M
2023 Median Age :	27	31	31
2023 Total Households :	2,433	2,532	2,546
2023 Pop Age 25+: Bachelor's Degree :	233	327	329
2023 Average Home Value :	$ 239,062	$ 239,286	$ 239,054

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S 7th Ave	E Madera St	2005	1,030	0.03 mi
Skyline Blvd	S 6th Ave	2005	3,940	0.04 mi
S 7th Ave	Skyline Blvd	2005	2,260	0.06 mi
Skyline Blvd	S Central Ave	2008	2,500	0.09 mi
Skyline Blvd	E Fresno St	2005	4,410	0.13 mi
S 5th Ave	E Fresno St	2005	1,530	0.14 mi
S 5th Ave	E Kings St	2005	610	0.17 mi
Skyline Blvd	E Kings St	2008	2,500	0.19 mi
S 3rd Ave	E Madera St	2005	1,650	0.29 mi
Skyline Blvd	E Kings St	2008	2,500	0.31 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

144 Listings
12224 Views
62 Sold

Bill Asher

Hanley Investment Group

Contact

144 Listings
12507 Views
60 Sold

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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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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