1928 Olive AveFresno, CA 93728

Property Details for 1928 Olive Ave

Year built

2014

Construction

WOOD

Lot size

1.00 AC

Property size (Sq ft)

8,320 SF

Zone code

NMX

Property type

Retail properties

Property subtype

Retail space

APN

449-231-33

APU

44923133

Description

This exceptional investment opportunity presents a fee-simple, single-tenant net-leased Family Dollar property in Fresno, CA. The 8,320 square foot building, constructed in 2014, sits on a 43,560 square foot lot zoned C-6. The property boasts a 100% occupancy rate with a corporate guarantee from Family Dollar, Inc., a subsidiary of Dollar Tree, Inc. (NASDAQ: DTLR), holding a BBB S&P rating. The current lease, commenced September 21, 2012, has a remaining term of 4.5 years, with five 5-year options remaining, each including a 10% rent increase. The current annual net operating income (NOI) is $181,009, resulting in an 8.35% cap rate and a price per square foot of $260.55. The asking price is $2,167,777. Landlord responsibilities are limited to roof and structure maintenance. This strategically located Family Dollar is the only one west of Highway 99, over 14 miles from the nearest competitor, serving a substantial population within a 5-mile radius (301,416 people, $61,500 average household income). The property enjoys excellent visibility and accessibility near the intersection of Olive Ave. and Highway 99, a major thoroughfare with daily traffic exceeding 137,000 vehicles. This presents a compelling investment with significant long-term growth potential due to the strong tenant, lease terms, and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,107,724

  6.5%

  $1,945,592

  7%

  $1,806,621

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,907,302

  Geo Method

  $5,847,738

• Alternative Use

  Use

  Valuation

  Residential

  $1,641,180

  Hospitality

  $1,503,312

  Educational

  $1,250,738

  Medical

  $1,293,752

  Retail

  $1,945,592

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7579

Longitude

-119.834

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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