For Sale
$2,167,777

1928 Olive AveFresno, CA 93728

Fresno, CA: Strong Net Lease Return

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant net-leased Family Dollar property in Fresno, CA. The 8,320 square foot building, constructed in 2014, sits on a 43,560 square foot lot zoned C-6. The property boasts a 100% occupancy rate with a corporate guarantee from Family Dollar, Inc., a subsidiary of Dollar Tree, Inc. (NASDAQ: DTLR), holding a BBB S&P rating. The current lease, commenced September 21, 2012, has a remaining term of 4.5 years, with five 5-year options remaining, each including a 10% rent increase. The current annual net operating income (NOI) is $181,009, resulting in an 8.35% cap rate and a price per square foot of $260.55. The asking price is $2,167,777. Landlord responsibilities are limited to roof and structure maintenance. This strategically located Family Dollar is the only one west of Highway 99, over 14 miles from the nearest competitor, serving a substantial population within a 5-mile radius (301,416 people, $61,500 average household income). The property enjoys excellent visibility and accessibility near the intersection of Olive Ave. and Highway 99, a major thoroughfare with daily traffic exceeding 137,000 vehicles. This presents a compelling investment with significant long-term growth potential due to the strong tenant, lease terms, and prime location.

Highlights

  • Recently extended Family Dollar corporate lease; five 5-year options remain with 10% rent increases each.
  • 2014 built-to-suit; minimal landlord responsibilities; investment-grade corporate lease (DTLR, S&P: BBB).
  • Investment-grade corporate lease (DTLR, S&P: BBB); Family Dollar is a Dollar Tree subsidiary.
  • Excellent location: only Family Dollar west of Highway 99 for over 14 miles.
  • High traffic location: excellent access to Highway 99 (137,000+ cars daily), serving western Fresno.
  • Strong market: Fresno, California's fifth-largest city, a major Central Valley hub and global agricultural center.

Property Details for 1928 Olive Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
8,320 SF
Year Built
2014
Buildings
1
Stories
1

Location Insight

City
Fresno
County
Fresno
State
California
Latitude
36.757688310272
Longitude
-119.83435631007
1928 Olive Ave, Fresno, California

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1928 Olive Ave
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