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Dollar Tree 1862 Palm Ave 14,577 SF Retail Building San Diego, CA 92154 $6,849,780 CAD ($469.90 CAD/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Dollar Tree – San Diego County, CA – Over 3.29 Million Residents
- #143 on Fortune 500 – Publicly Traded (NASDAQ: DLTR)
- Absolute NNN Lease – 6.3+ Lease Years Remaining in Primary Term
- Investment Grade Credit – BB+ Standard and Poor’s Rating
- Over 16,000 Stores Across the United States & Canada
- Inflation Resistant Cash Flows – 4% Increase in 2026 8% Increases in Each Option
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team is pleased to present to investors a rare opportunity to acquire an absolute NNN leased Dollar Tree in San Diego, CA. Dollar Tree (NASDAQ: DLTR) is and investment grade tenant and Ranked #143 on the 2024 Fortune 500 with annual revenue exceeding $30 billion and over 16,000 Stores in the U.S. and Canada.
This is a new store location currently under renovation with over 6.3 lease years remaining in the primary term with 8% rent increases every 5 years. The subject property is strategically positioned on the hard corner signalized intersection of Palm Avenue and Saturn Boulevard, which has a combine traffic count exceeding 94,000 VPD,
and is opposite the Home Depot and Walmart anchored Southland Plaza Shopping Center. Other nearby retailers include Vons, CVS Pharmacy, 7-Eleven, Bank of America, Wells Fargo, In-N-Out Burger, McDonald’s, Starbucks and more.
Located in San Diego County (population exceeding 3.29 million) this is an excellent opportunity to own a long-term single tenant absolute NNN leased asset with strong rent increases, multiple option periods, and no landlord responsibilities providing years of passive income.
This is a new store location currently under renovation with over 6.3 lease years remaining in the primary term with 8% rent increases every 5 years. The subject property is strategically positioned on the hard corner signalized intersection of Palm Avenue and Saturn Boulevard, which has a combine traffic count exceeding 94,000 VPD,
and is opposite the Home Depot and Walmart anchored Southland Plaza Shopping Center. Other nearby retailers include Vons, CVS Pharmacy, 7-Eleven, Bank of America, Wells Fargo, In-N-Out Burger, McDonald’s, Starbucks and more.
Located in San Diego County (population exceeding 3.29 million) this is an excellent opportunity to own a long-term single tenant absolute NNN leased asset with strong rent increases, multiple option periods, and no landlord responsibilities providing years of passive income.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,577 SF
Building Class
C
Year Built
1980
Price
$6,849,780 CAD
Price Per SF
$469.90 CAD
Cap Rate
5.25%
NOI
$359,613 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.14 AC
Zoning
C-1, San Diego
Parking
55 Spaces (3.77 Spaces per 1,000 SF Leased)
Frontage
121’ on Palm Ave
AMENITIES
- Signage
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 627-080-13 | Improvements Assessment | $2,048,329 CAD |
| Land Assessment | $3,929,720 CAD | Total Assessment | $5,978,049 CAD |
PROPERTY TAXES
Parcel Number
627-080-13
Land Assessment
$3,929,720 CAD
Improvements Assessment
$2,048,329 CAD
Total Assessment
$5,978,049 CAD
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Dollar Tree | 1862 Palm Ave
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