2406 American Ave Oracle, AZ 85623-6116
- Retail space
- 9,016 SF
- 1.01 lot acres
Current Use by Public Records
- Western Union / Money Transfer Service
- Redbox / Movie Rental Kiosk / Dvd Store
- Dollar General / Beauty Supply Store / Convenience Store
- FedEx OnSite / Mailing Service
Property Details for 2406 American Ave
- Year built
- 2005
- Lot size
- 1.01 lot acres
- Property size
- 9,016 SF
- Property type
- Retail space
- APN
- 308-56-001F
- APU
- 30856001F
Description
This exceptional investment opportunity presents a 9,016 square foot Dollar General store located at 2406 W American Ave, Oracle, AZ 85623. Built in 2005 on a 1.01-acre lot (APN 308-56-001F), this Class B retail property boasts a strong 100% occupancy rate under a Net Lease (NNN) agreement with a corporate guarantee. The lease has a remaining term of 4 years, providing immediate cash flow and long-term stability. The property generates a substantial Net Operating Income (NOI) of $67,650, resulting in a compelling 5.01% cap rate. Priced at $1,350,000 ($149.73/sq ft), this single-tenant property benefits from its strategic location on a main thoroughfare, ensuring high visibility and consistent traffic. The tenant, Dollar General, enjoys a unique position as the only dollar store and effectively the sole grocer in Oracle, AZ, eliminating direct competition and securing its dominant market presence. In 2021, the tenant extended their lease by an additional 5 years, demonstrating a significant long-term commitment to the location. This investment offers a rare opportunity to acquire a stable, low-risk asset with a strong corporate guarantee and a commanding local market share. The property is zoned CB-2.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oracle
- County
- Pinal
- State
- Arizona
- Longitude
- -110.799
- Latitude
- 32.6202
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
