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Views: 92 Updated: 12.11.23 Posted: 09.19.23 Status: Inactive 03.20.24

Summary

Price $2,498,185
Built/Renov 2018
Tenant Shoe Palace
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corporate
Size/SF 5,993
Lease Start 01-01-2018
#Units 160
Price/SF $416.85
Expiration 12-31-2024
Tenant Type General Retail
NOI $174,873
R. Term 0.1
Ownership Fee Simple
Rent/SF $29.18
Increases 4.0%/1/yrs
Pop 5Mi 283,431
Lot/AC 0.63
Options 2/5yrs/4%
AHHI 5Mi $82,883

Lease Highlights

  • Shoe Palace has 1 year remaining on their primary lease term with 2 (5-year) options to extend
  • Lease features 4% annual rental increases
  • Lease guaranteed by Shoe Palace Corporate, a wholly owned subsidiary of JD Sports, a $7b revenue company

Location Description

Shoe Palace is conveniently located on North Wilson Way with a daily traffic count of 18,094 vehicles passing by. The subject property is situated as an outparcel to a grocery anchored shopping center. In the surrounding area, there is a dense retail corridor with national retailers such as Food 4 Less, Walgreens, Dollar Tree, Starbucks, Ace Hardware, Family Dollar, Taco Bell, and Burger King....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Shoe Palace is a private athletic footwear and apparel retail chain. The company, which was founded in 1993 in San Jose, CA, carries only elite shoe and apparel brands. At the end of 2020, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 20,148 149,376 288,444
2023 Total Population : 19,811 146,326 283,431
2023 Employed Civilian Pop : 7,834 55,417 112,588
2023 Total Businesses : 1,164 4,598 8,888
2023 Average Household Income : $ 57,919 $ 71,963 $ 82,883
2023 Total Consumer Spending : $ 310 M $ 2770 M $ 6247 M
2023 Median Age : 31 31 32
2023 Total Households : 6,066 43,787 86,217
2023 Pop Age 25+: Bachelor's Degree : 480 6,055 17,278
2023 Average Home Value : $ 380,674 $ 417,759 $ 464,298
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Wilson Way E Oak St 2009 17,376 0.04 mi
N Wilson Way E Lindsay St 2014 24,100 0.10 mi
E Fremont St Airport Way 2014 5,200 0.14 mi
N Wilson Way Flora St 2014 25,100 0.19 mi
Airport Way E Lindsay St 2014 19,500 0.21 mi
E Oak St N Pilgrim St 2014 4,900 0.21 mi
E Miner Ave N Sierra Nevada St 2014 7,800 0.23 mi
E Fremont St N Union St 2014 2,300 0.28 mi
Weber Ave N Sierra Nevada St 2014 2,700 0.35 mi
E Park St N Union St 2007 4,900 0.36 mi

Listing Broker

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