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Vons

57590 29 Palms Highway, Yucca Valley, CA 92284

$4,370,000

Cap Rate 7.00%

Views: 47 DOM: 54 Updated: 07.16.24 Posted: 07.16.24 Status: Active

Summary

Price $4,370,000
Built/Renov 1978/2019
Tenant Vons
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 40,000
Lease Start 02-25-1981
#Units 195
Price/SF $109.25
Expiration 02-28-2031
Tenant Type Grocery
NOI $306,053
R. Term 6.5
Ownership Fee Simple
Rent/SF $7.65
Increases 0.0%/0/yrs
Pop 5Mi 25,610
Lot/AC 3.03
Options 3/5yrs
AHHI 5Mi $81,227

Eric Carlton
Colliers NNN Group
Contact

Jereme Snyder
Colliers NNN Group
Contact

Lease Highlights

  • Vons has been operating in this location for over 40 years
  • The tenant has 6+ years remaining on the current lease term with 3 (5-year) options to extend
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Vons is strategically located on Palms Highway, with access to 29,500 vehicles passing by daily. The property has been an anchor tenant of the Joshua Village Shopping Center for over 43 years. Nearby well-known national retailers include ALDI, Grocery Outlet, Stater Bros. Markets, Walgreens, Rite Aid, Tractor Supply Co., Starbucks, and more. The 5-mile trade area supports a population of...

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Key Features

  • Oversized lot

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Long operation history

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

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Links

Vons Wikipedia Vons Wikipedia Yucca Valley, California Zip Code 92284 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Vons
  • Guarantor:Corp T and Rated
  • Company:Albertson's Companies, Inc.
  • # Units:195
  • Tenant S&P: BB
  • Moody’s: Ba3
  • Stock: NYSE: ACI

About Tenant

Vons Grocery is a Southern California and Southern Nevada supermarket chain. Founded in 1906 when the first location opened in a 20-foot-wide store in Los Angeles, CA, the neighborhood grocery...


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Listing Broker

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