Dollar Tree | Below Market Rent | Northern CA
Retail | 6.39% CAP | 12,000 SqFt
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed Dollar Tree located at 7528 Pacific Avenue in Stockton, California. The ±12,000-square-foot building has been occupied by Dollar Tree since 2007 and is currently under a renewed 10-year NN lease, which commenced in 2025 and runs through April 30, 2035. The lease includes structured rental increases every five years and two additional five-year renewal options. Dollar Tree reimburses the landlord for taxes, insurance, and CAM, subject to a generous reimbursement cap that exceeds current expenses.
The site is located within the high-traffic Hammer Ranch retail corridor, just off West Hammer Lane (±39,188 VPD) and Pacific Avenue (±20,217 VPD). It sits among national tenants including Save Mart, Walgreens, McDonald’s, Skechers, Starbucks, and Michaels, and draws daily traffic from San Joaquin Delta College (18,610+ students) and the nearby Weberstown Mall (4.6M annual visits).
Dollar Tree is a Fortune 200 company with over 16,000 locations across North America and 2024 revenue exceeding $30 billion. The lease is backed by Dollar Tree Stores, Inc., providing strong credit and income security. With proven long-term occupancy, below-market rent, and a recent lease extension, this offering provides an investor with a reliable, inflation-hedged income stream in one of Northern California’s fastest-growing markets.
Investment highlights
Long-Term Occupancy With Recent 10-Year Lease Extension
• Dollar Tree Has Operated at the Site Since 2007 and Recently Extended Through 2035
• Two (2) Additional 5-Year Renewal Options Remain
Corporate Lease Backed by Dollar Tree Stores, Inc.
• Publicly Traded on NASDAQ: DLTR | 16,000+ Locations | $30.7B in Revenue (2024)
• Fortune 200 Company With Continued Expansion and Strong Brand Loyalty
Structured Rent Increases Provide Built-In Growth
• Current Annual Rent: $99,000 | Increases to $111,000 in 2030 and $123,000 in 2035
• 5-Year Bump Schedule Offers Predictable, Inflation-Resistant Cash Flow
NNN Lease With High Reimbursement Cap and Limited Landlord Exposure
• Landlord Responsible Only for Roof and Structure (New Roof in 2019)
• Annual Reimbursement Cap ($92,278 for 2025–2026) Exceeds Actual Expenses
Located in Stockton’s Premier Retail Corridor
• ±20,217 VPD on Pacific Ave and ±39,188 VPD on Hammer Lane
• Co-Tenants Include Walgreens, Save Mart, Starbucks, Skechers, and Michaels
Strong Demographics in Rapidly Growing Central Valley Market
• 5-Mile Population: 275,170 | Avg. HH Income: $108,611
• Adjacent to San Joaquin Delta College and Weberstown Mall (4.6M Visits Annually)
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