For Sale
$1,505,824

389 Birch StPilot Rock, OR 97868

High-yield, net-leased Dollar Store

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional investment opportunity: a 10,500 square foot, net-leased Family Dollar/Dollar Tree storefront in Pilot Rock, Oregon. Built in 2022, this property boasts a strong 8.50% cap rate and a substantial $127,995 net operating income (NOI). The investment-grade tenant (S&P: BBB) has a lease extending to June 30, 2032, with a $0.50 per square foot rent increase scheduled for July 1, 2027. Seller financing is available. Situated on a 1.7-acre lot at 389 SW Birch St, this property benefits from its location on a primary thoroughfare, serving a community with an average annual household income of $93,400 within a five-mile radius. The property is currently 100% occupied, despite the tenant's announced cessation of operations at this location, with rent payments continuing through the lease term. This presents a compelling value-add opportunity with a corporate guarantee from Family Dollar Stores, Inc. Pilot Rock's economy is anchored by lumber and agriculture, complemented by outdoor recreational opportunities. The property's strategic location and strong tenant covenant make it an attractive investment prospect.

Highlights

  • Investment-grade tenant Dollar Tree (DLTR) occupies this 10,500 SF storefront.
  • S&P-rated BBB tenant offers strong creditworthiness.
  • Seller financing is available.
  • Corporate guarantee from Family Dollar Stores, Inc. secures the lease.
  • Eight years remain on the primary lease term.
  • Building constructed in 2022.

Property Details for 389 Birch St

Property type
Retail properties, Retail space
Square Feet
10,500 SF
Year Built
2022
Lot Size (sq. ft)
74,052 SF

Location Insight

City
Pilot Rock
County
Umatilla
State
Oregon
Latitude
45.4801425
Longitude
-118.8345446
389 Birch St, Pilot Rock, Oregon

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389 Birch St
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