Grocery-Anchored Dollar Tree NNN Investment

81 Columbia Point Dr, Richland, WA 99352

View on Map

For Sale

$6,375,000

Grocery-anchored Dollar Tree NNN investment property for sale.

Type:Commercial/Industrial

Property size:

25,000 SF

Lot size:

1.98 Acres

Price / SF:

$255/SF

HighLights

Grocery‑anchored investment property with stable, long‑term cash flow.
Attractive 6.69% CAP rate and $426,016 net operating income (NOI).
Dollar Tree, a well‑established national credit tenant, occupies the majority of the space (19,966 SF).
Dollar Tree recently extended its lease through January 2032, with options to extend until 2042.
NNN lease structure minimizes management responsibilities.
Opportunity to lease a vacant 5,000 SF suite, formerly a Mattress Suite, at $22.50/SF.

We can help!

Listing Contact

Derrick Stricker

For Sale

$6,375,000

Grocery-anchored Dollar Tree NNN investment property for sale.

Type:Commercial/Industrial

Property size:

25,000 SF

Lot size:

1.98 Acres

Price / SF:

$255/SF

Added:: Sep 20, 2024
Days on Market:: 632
Last Refresh:: May 20 at 2:57 am

Property Features for 81 Columbia Point Dr

General Information

Standard status: Active
Size: 25,000 SF
Lot size: 1.98 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 2004

We can help!

Listing Contact

Derrick Stricker

Listing agent Derrick Stricker License #22021066

Listing office StrickerCRE

Listing date Sep 20, 2024

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of StrickerCRE

HighLights

Grocery‑anchored investment property with stable, long‑term cash flow.
Attractive 6.69% CAP rate and $426,016 net operating income (NOI).
Dollar Tree, a well‑established national credit tenant, occupies the majority of the space (19,966 SF).
Dollar Tree recently extended its lease through January 2032, with options to extend until 2042.
NNN lease structure minimizes management responsibilities.
Opportunity to lease a vacant 5,000 SF suite, formerly a Mattress Suite, at $22.50/SF.

Overview

This grocery-anchored Dollar Tree NNN investment property offers an opportunity for investors seeking stable, long-term cash flow with minimal management responsibilities. The property, with a size of 25000 square feet, is priced at $6,375,000. It provides a 6.69% CAP rate and generates a net operating income (NOI) of $426,016 annually. The anchor tenant, Dollar Tree, occupies 19,966 square feet. Dollar Tree recently extended its lease for 8 additional years, through January 2032, with two 5-year renewal options that could extend their tenancy until 2042. There is a vacant 5,000 square foot suite adjacent to Dollar Tree that is a former Mattress Suite and is listed for lease for $22.50/SF. NNN estimates are $3.75 and WinCo Grocery manages all of the Center's Common Area Maintenance.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$540.0k	$21.60
− Vacancy	−$26.5k	−$1.06
EGI	$513.5k	$20.54
− OpEx	−$128.4k	−$5.14
NOI	$385.2k	$15.41

25,000 SF · lease $21.60/SF/yr · vacancy 4.90% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$5.50M

$4.81M – $6.42M (±1% cap)

NOI $385,155 @ 7.0% cap · market cap 6.04%

Second Best

Retail

$4.20M

$3.68M – $4.90M (±1% cap)

NOI $294,210 @ 7.0% cap · market cap 4.62%

Theoretical Best

Office A

$6.93M

$6.07M – $8.09M (±1% cap)

NOI $485,386 @ 7.0% cap · market cap 7.61%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Grocery and convenience stores

Suggested Use

Location Insight

Map
Local Demand

City: Richland
County: Benton
State: Washington
Longitude: -119.265
Latitude: 46.2622

Nearby Similar for Sale

$550,000

3,600 SF

Duplex with Private Shop

Upgraded duplex with heat pumps, updated kitchens, and a fenced yard plus a 36x30 shop.

1513 Johnston, Richland, WA 99354

View Details
$524,900

3,526 SF

Spacious Duplex in Central Richland

Updated duplex with strong rental potential in a desirable location.

1219 McPherson Ave, Richland, WA 99354

View Details
$418,000

2,700 SF

Two-Unit Duplex with Basements

Duplex in central Richland with two-bedroom units, multiple basement areas, newer flooring, and off-street parking.

326-328 Douglass Ave, Richland, WA 99352

View Details
$465,000

2,350 SF

Duplex with One Vacant Side

Duplex with one side occupied and one vacant, featuring central heat and air conditioning on the occupied unit.

1428/1430 Stevens, Richland, WA 99354

View Details
$1,115,000

10,422 SF

Richland Flex/Industrial/Office/Manufacturing Building

Flex/industrial/office/manufacturing building featuring security and upgraded systems.

2765 Salk Ave, Richland, WA 99354

View Details
$942,739

6,453 SF

Richland Commercial Property Investment

Fully occupied commercial property in Richland with high visibility.

1177 Jadwin Ave, Richland, WA

View Details
$2,750,000

Richland Office Building For Sale

Office building with national tenant, prime location, ample parking.

1766 Fowler St, Richland, WA 99352

View Details
$942,739

7,125 SF

Richland Commercial Property For Sale

7,125 SF commercial property in the heart of Richland.

1177 Jadwin Ave, Richland, WA 99352

View Details
$965,000

5,181 SF

Fully Occupied Retail Center

Neighborhood retail center with diverse tenants and ample parking.

1217 Thayer Dr, Richland, WA 99352

View Details
$1,010,000

8,064 SF

Established Richland Retail/Office Center

Retail and office strip center with strong tenant mix.

214 Torbett, Richland, WA 99352

View Details
$1,350,000

Established Daycare Center Investment Opportunity

Well-maintained daycare center in Richland with long-term lease.

814 Comstock St, Richland, WA 99352

View Details
Contact for pricing
4,830 SF

Richland Retail Building For Sale

Two-tenant retail building in Richland, WA, fully occupied.

93 W Gage Boulevard, Richland, WA 99352

View Details

For sale
Grocery and convenience stores
WA
Richland
99352
81 Columbia Point Dr

What type of property is this?

Grocery and convenience store - Grocery-anchored Dollar Tree NNN investment property for sale.

Where is this grocery and convenience store located?

The property is located at 81 Columbia Point Dr Richland, WA.

What is the asking price?

The asking price for this property is $6,375,000.

What are key features of this property?

This property features: Grocery‑anchored investment property with stable, long‑term cash flow.; Attractive 6.69% CAP rate and $426,016 net operating income (NOI).; **Dollar Tree, a well‑established national credit tenant, occupies the majority of the space (19,966 SF).**