The subject property is a 10,044-square foot freestanding Family Dollar in Ajo, Arizona. The double-net lease has a corporate guarantee from a publicly traded company (NASDAQ: DLTR), with a BB+ credit rating from Standard & Poors. Landlord is responsible for roof and structure. Approximately one and a half years remain on the primary term, and the tenant has three, five-year options for renewal with 10 percent rent escalations scheduled at the beginning of each option period. Situated on 1.52 acres, the building was originally constructed in 1986 with renovations in 2004.
Family Dollar is located on North 2nd Avenue (State Highway 85), the major north/south thoroughfare in the town. The property is adjacent to Pizza Hut and Sprint and has ample parking available. Other nearby retailers include Circle K, Shell gas station, and Dollar General. The five mile population is 3,345 with an average household income of $44,300.
Located on State Highway 85 in south central Arizona in the heart of the Sonoran Desert, Ajo is a short two hour drive from Phoenix or Tucson. Ajo is surrounded by 12 million acres of public and tribal land waiting to be explored. Organ Pipe Cactus National Monument and Cabeza Prieta National Wildlife Refuge offer expansive hiking, camping and birding places. Formerly on of the largest copper mines in the world, the New Cornelia pit is over a mile wide.