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Views: 45 DOM: 77 Updated: 07.31.24 Posted: 06.22.24 Status: Active

Summary

Price $5,895,000
Built/Renov 1977/2023
Tenant Savers Value Village
Cap Rate 6.40%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 23,580
Lease Start 05-01-2024
#Units 321
Price/SF $250.00
Expiration 04-30-2034
Tenant Type General Retail
NOI $377,280
R. Term 9.7
Ownership Fee Simple
Rent/SF $16.00
Increases 10.0%/5/yrs
Pop 5Mi 169,341
Lot/AC 3.66
Options 2/5yrs/10%
AHHI 5Mi $113,506

Lease Highlights

  • Brand new 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Savers Value Village is strategically located at the signalized, hard corner intersection of Somersville Road and Delta Fair Boulevard, a major retail thoroughfare, with access to 45,200 vehicles passing by daily. The property is conveniently situated near the on/off ramp to State Highway 4 (160,000 VPD), a major highway connecting Antioch to San Francisco. Additionally, it is adjacent to the...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Savers Value Village Inc. is the largest for-profit thrift operator in the United States and Canada for value-priced pre-owned clothing, accessories, and household goods, their mission is to...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 19,507 93,515 170,832
2023 Total Population : 19,373 93,029 169,341
2023 Employed Civilian Pop : 8,350 41,343 77,755
2023 Total Businesses : 535 2,381 3,506
2023 Average Household Income : $ 80,463 $ 101,838 $ 113,506
2023 Total Consumer Spending : $ 444 M $ 2639 M $ 5111 M
2023 Median Age : 33 36 35
2023 Total Households : 6,353 30,005 52,412
2023 Pop Age 25+: Bachelor's Degree : 1,674 9,215 18,786
2023 Average Home Value : $ 518,898 $ 595,243 $ 623,200
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Delta Fair Blvd San Jose Dr 2014 14,668 0.04 mi
Buchanan Rd Delta Fair Blvd 2012 8,750 0.09 mi
Delta Fair Blvd San Jose Dr 2006 23,201 0.12 mi
Somersville Rd Delta Fair Blvd 2014 15,872 0.13 mi
Buchanan Rd Delta Fair Blvd 2012 9,990 0.14 mi
Delta Fair Blvd Somersville Rd 2013 13,080 0.15 mi
Somersville Rd Fairview Dr 2012 9,310 0.18 mi
Somersville Rd Delta Fair Blvd 2013 22,020 0.20 mi
Delta Fair Blvd Somersville Rd 2013 13,170 0.22 mi
Somersville Rd State Hwy4 2013 10,110 0.22 mi

Listing Broker

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