Family Dollar Anchored Retail Building | Investor Upside Opportunity
Santa Rosa, NM
Price: $885,000Cap Rate: 8.60%Building SF: 11,280 SFLot Size: 1.008 AcresYear Built: 2004Status: Available

Investment Highlights: 

Major Upside Potential Through Vacancy Lease Up – Opportunity to Collect Double Rent – The 2,100-square foot vacant space adjacent to Family Dollar will be master leased by the seller. At close of escrow, the seller will credit the buyer a lump sum equivalent to 4 years of rent ($48,000). This provides an opportunity for an investor to lease up the vacancy and collect double rent for the first four years of owning this asset.

Seller Providing a Future Investor with an Improved “Move-In Ready” Vacant Space – The master leased vacancy adjacent to Family Dollar is an improved space that was previously occupied by Verizon Wireless. The seller is delivering this space to a future investor ready to lease complete with HVAC, restrooms, and finishes.

Recently Renovated Building: New Roof, Paint, Signage, Parking Lot Improvements – Hard Corner Location – Multiple Entry Points – The building has been recently renovated with a new roof, new paint, updated signage, and an improved parking lot. The site offers a hard corner location at Will Rogers Drive/Route 66 and Lake Drive, offering excellent visibility and signage to residents and travelers alike, as well as multiple entry points to the property. 

Investment Grade Credit Tenant: Family Dollar (S&P: BB+)  – Approximately 9,180 square feet of the building is leased to Family Dollar (S&P: BB+). Family Dollar operates more than 8,200 stores across 46 states and is a wholly-owned subsidiary of Dollar Tree, Inc. (DLTR).

Minimal Grocery Competition in the Area – Other than Dollar General and a small local grocer, there is very limited competition for this Family Dollar location making them the premier grocer within the Santa Rosa trade area. This can be shown by the early 5-year lease extension executed by Family Dollar. 

Located Along Historic Route 66 – Retail Synergy – Located along historic Route 66 at the on/off ramp to Interstate 40, the subject property offers a strategic location along the main corridor to downtown Santa Rosa and beyond used by travelers and commuters in the area. This main artery features neighboring tenants including Shell, USPS, McDonald’s, Days Inn, Chevron, Phillips 66, Napa Auto Parts, Wells Fargo Bank, True Value Hardware, and more. The area offers limited competition, with only one other grocer, Dollar General, across the street.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977