1928 W Olive Ave Fresno, CA 93728

Property Details for 1928 W Olive Ave

Year built

2014

Construction

WOOD

Lot size

1.00 lot acres

Property size

8,320 SF

Zone code

NMX

Property type

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.