1200 NW 6th St - Storefront FOR SALE


Grants Pass, OR 97526
$1,900,000 USD
206-826-5787
1200 NW 6th St, Grants Pass, OR for Sale
$1,900,000 USD
Storefront - FOR SALE
1/3
null | 8.68% Cap Rate

1200 NW 6th St
Grants Pass, OR 97526


HIGHLIGHTS

  • Dollar Tree recent lease extension and strong historical occupancy | Strong rent growth (11.3%) market
  • A-1 Market early lease extension with 17% rent increase | A-1 Market company and personal guarantees
  • NNN leases/minimal landlord responsibilities | high-growth population market
  • Dollar Tree strong corporate guarantee by investment grade tenant | essential, recession proof anchor tenant

OVERVIEW

Marcus & Millichap's has been selected exclusively to market for sale the Dollar Tree Center, a 2 tenant NNN retail strip located in the rapidly growing Grants Pass/Medford MSA. Both Dollar Tree and A-1 Market have recently extended their leases for another 5 years in their respective spaces. Dollar Tree has been operating at this location since 2001, demonstrating strong historical occupancy at the Property. A-1 Market recently exercised into their first 5-year option at a rental rate 17% higher than their previous rate, with 2 more 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. Both tenants operate on NNN leases, reimbursing the Landlord for their pro-rata share of CAM expenses, insurance, and property taxes. This Dollar Tree location is corporately guaranteed, and is a publicly traded company (NYSE: DLTR) owning both Dollar Tree and Family Dollar brands. It is ranked 137 on the Fortune 500 with over 16,000 stores in the lower 48 states, and is also established in 5 Canadian provinces. In 2024, Dollar Tree was on track to open more than 1,300 new locations, as it sought to capitalize on shoppers trading down to hunt for bargains amid high inflation. Dollar Tree has been among the top U.S. retail lessees on an annual basis, according to CoStar. 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 Property is located in the rapidly growing Grants Pass market and benefits from a population of over 55,000 residents within a 5-mile radius. Since 2010 the population has grown nearly 11% within a 5-mile radius and over 9% within a 1-mile radius.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$115 USD /SF

CAP RATE

8.68%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree Center | Recent Lease Extensions

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

R307961

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.