Grocery-Anchored Dollar Tree NNN
81 Columbia Point Dr Richland, WA 99352
For Sale
$6,375,000
Grocery-anchored Dollar Tree NNN investment property for sale.
Property Size25,000 SF
Lot Size1.98 Acres
Price / SF$255
Days on Market679
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
Listing Agency:
StrickerCRE
(509) 430-8533
Listed By:
Derrick Stricker · License #22021066
(509) 430-8533
Source:
Exitrealty
Added: Sep 20, 2024
Changed: Jul 10
Last Checked: Jul 29 at 6:58AM
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
Investment Insights
Based on property information with market context.
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.
Key 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).
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $385,155 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$4.20M
$3.68M – $4.90M
NOI $294,210 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$6.93M
$6.07M – $8.09M
NOI $485,386 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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).**
