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Updated: 11.07.23 Posted: 04.10.23 Status: Inactive

Summary

Price $6,560,000
Built/Renov 2022
Tenant Grocery Outlet
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 16,000
Lease Start 03-02-2023
#Units 448
Price/SF $410.00
Expiration 03-31-2038
Tenant Type Grocery
NOI $328,000
R. Term 12.10
Ownership Fee Simple
Rent/SF $20.50
Increases 10.0%/5/yrs
Pop 5Mi 17,856
Lot/AC 1.69
Options 3/5yrs/10%
AHHI 5Mi $79,813

Lease Highlights

  • New 2022 renovation
  • Brand-new 15 year lease with 4 (5-year) and 1 (4 year and 11 month) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and options and at the beginning of each option
  • Favorable NN+ lease with landlord responsibilites limited to roof and structure
  • Corporate guarantee by Grocery Outlet Holding Corp. (NASDAQ: GO)

Location Description

This newly constructed Grocery Outlet is strategically located within Soledad Marketplace, a new 120,000 square foot grocery anchored shopping center adjacent to the U.S. Route 101 ramps which see 74,547 vehicles passing daily. The shopping centers current and future tenants include Boot Barn, DaVita Dialysis, Dutch Bros Coffee, Five Below, Premiere Cinemas, and Ross Dress for Less. Other...

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Maps

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Tenant

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 : 7,403 19,367 20,008
2023 Total Population : 7,380 19,426 20,076
2023 Employed Civilian Pop : 2,966 8,038 8,315
2023 Total Businesses : 200 266 295
2023 Average Household Income : $ 75,925 $ 98,539 $ 98,560
2023 Total Consumer Spending : $ 117 M $ 391 M $ 401 M
2023 Median Age : 29 29 29
2023 Total Households : 1,796 4,602 4,727
2023 Pop Age 25+: Bachelor's Degree : 159 666 708
2023 Average Home Value : $ 533,421 $ 566,329 $ 568,795
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Nestles Rd 4th St 2015 3,189 0.09 mi
Nestles Rd Front St 2015 3,583 0.24 mi
Front St Nestles Rd 2021 34,000 0.26 mi
101 2018 35,300 0.28 mi
Front St Nestles Rd 2015 14,659 0.34 mi
Palm Ave PkSt 2015 3,189 0.52 mi
3rd St Vineyard Dr 2015 2,135 0.56 mi
el Camino Real S Los Coches Rd 2017 38,100 0.63 mi
East St Monterey St 2015 5,499 0.64 mi
101 Front St 2018 38,800 0.64 mi

Listing Broker

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Bill Asher

Hanley Investment Group

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  • 151 Listings
  • 28455 Views
  • 75 Sold
Jeff Lefko

Hanley Investment Group

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  • 151 Listings
  • 27699 Views
  • 78 Sold

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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