26534 9th St - Freestanding FOR SALE


Highland, CA 92346
$2,250,000 USD
702-250-3392
26534 9th St, Highland, CA for Sale
$2,250,000 USD
Freestanding - FOR SALE
1/31
null | 6.84% Cap Rate

26534 9th St
Highland, CA 92346


HIGHLIGHTS

  • High-Performing Corporate Triple Net-Leased Family Dollar
  • 10% Increases in Each of Five 5-Year Options to Renew
  • Alcohol Sales Permit Application Recently Submitted by Tenant
  • Extremely Dense Population Exceeding 102,337 Residents in the Three Mile Radius with an Average Household Income of $69,021
  • Signalized Intersection of 9th Street @ Victoria Strong Workforce Demand Drivers to Highland, CA Due to Regional Growth in Distribution Facilities
  • Less Than One Mile from San Bernardino Intl Airport (SBD), Recent $300 Million Investment by Amazon for Its New 100-Acre Amazon Air Regional Hub

OVERVIEW

Marcus & Millichap is pleased to present an exclusive investment opportunity to acquire a  net leased corporate Family Dollar nestled in the foothills of the San Bernardino Mountains. Located just one mile northeast of the San Bernardino International Airport and south of the Yaamava’ Resort & Casino, the site is also surrounded by a tremendous density of residential population. A well-performing location for Family Dollar, the original 10-year net lease with Family Dollar, Inc. was signed in April 2018 and has five 5-year renewal options beginning in October of 2028. Each option period signifies a 10% rental increase. This lease was signed in 2018 to apparently address the growing demand for additional retail space due to the strong performance of a nearby, corporately-owned store on Base Line Street, just northeast of this location. Situated upon ±0.71 acres of land, this inline space located within the larger Rio Ranch shopping center and consists of ±8,500 square feet. Application for Alcohol Sales has recently been submitted. Architectural plans and environmental inspections will be included with the delivery of due diligence materials. The materials will help to facilitate a potential purchaser’s expedited review of the property as they provide confidence in the building’s history and do not reflect any environmental concerns. A low market rent of $1.51/sf NNN creates a long-term ease of occupancy for the Forbes #147 ranked investment-grade credit tenant.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$265 USD /SF

CAP RATE

6.84%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

98

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

C1, Highland

APN/PARCEL ID

1192-371-01,1192-371-02

ASK ABOUT THIS PROPERTY

Candace BareMarcus & MillichapMore Info
702-250-3392

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Candace BareMarcus & MillichapMore Info
702-250-3392

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