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Grocery Outlet

1650 Highway 46, Wasco, CA 93280

$6,308,000

Cap Rate 5.20%

Views: 51 DOM: 189 Updated: 02.12.24 Posted: 11.10.23 Status: Active

Summary

Price $6,308,000
Built/Renov 2023
Tenant Grocery Outlet
Cap Rate 5.20%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 16,000
Lease Start 06-15-2023
#Units 448
Price/SF $394.25
Expiration 06-30-2038
Tenant Type Grocery
NOI $328,000
R. Term 14.1
Ownership Fee Simple
Rent/SF $20.50
Increases 10.0%/5/yrs
Pop 5Mi 27,224
Lot/AC 2.32
Options 4/5yrs/10%
AHHI 5Mi $56,280

Jeff Lefko
Hanley Investment Group
Contact

Bill Asher
Hanley Investment Group
Contact

Lease Highlights

  • Grocery Outlet recently signed a brand new 15-year lease with 3 (5-year) and 1 (4-year 11month) options to extend
  • Lease features 10% rental increases throughout the initial term and each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Grocery Outlet is strategically located at the hard corner, signalized intersection of Highway 46 and Poplar Avenue which see a combined daily traffic count of 40,000+ vehicles passing by daily. It is also conveniently accessible from Interstate 5, and Highways 99, 43 and 58. The property benefits from extremely limited competition, as it is the only grocery outlet store in a 22-mile radius....

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Key Features

  • New construction

  • Dense retail corridor

  • Highway location

  • Top 100 MSA

  • Long 15+ yr lease

  • Strong sales history

  • Limited competition

  • Favorable NN+ lease

  • Traded and rated company

  • Corporate Guarantee

    • ...

Links

Grocery Outlet Wikipedia Grocery Outlet Wikipedia Wasco, California Zip Code 93280 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Grocery Outlet
  • Guarantor:Corp T and Rated
  • Company:Grocery Outlet Holding Corp.
  • # Units:448
  • Moody’s: B1
  • Stock: NASDAQ: GO

About Tenant

Grocery Outlet Holding Corp, dba Grocery Outlet Bargain Market, is an American discount closeout retailer of supermarket locations that offer deeply discounted, overstocked, and closeout products...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,895 23,531 28,175
2023 Total Population : 11,745 23,355 27,992
2023 Employed Civilian Pop : 4,884 9,054 9,179
2023 Total Businesses : 285 418 450
2023 Average Household Income : $ 68,553 $ 67,394 $ 68,114
2023 Total Consumer Spending : $ 195 M $ 374 M $ 382 M
2023 Median Age : 29 28 29
2023 Total Households : 3,227 6,328 6,404
2023 Pop Age 25+: Bachelor's Degree : 259 585 634
2023 Average Home Value : $ 253,061 $ 290,642 $ 291,916
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Palm Avenue 9th Pl 2021 16,350 0.09 mi
Paso Robles Hwy N Poplar Ave 2017 18,600 0.13 mi
Palm Ave Persimmon St 2017 3,005 0.17 mi
Paso Robles Hwy Peters St 2017 17,600 0.17 mi
46 2018 17,700 0.21 mi
4th St Poplar Ave 2017 493 0.36 mi
5th St N Griffith Ave 2017 1,953 0.51 mi
7th St Cedar Ave 2017 3,322 0.58 mi
Broadway 4th Pl 2017 1,962 0.62 mi
Central Ave Bettis Ave 2017 4,594 0.66 mi

Listing Broker

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