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Views: 107 Updated: 09.05.24 Posted: 10.25.23 Status: Inactive 10.02.24

Summary

Price $4,170,000
Built/Renov 1978/2015
Tenant Big Lots!
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 27,799
Lease Start 06-20-2016
#Units 1,392
Price/SF $150.01
Expiration 01-31-2026
Tenant Type Big Box Retail
NOI $250,191
R. Term 1.2
Ownership Fee Simple
Rent/SF $9.00
Increases 0.0%/0/yrs
Pop 5Mi 67,764
Lot/AC 2.70
Options 3/5yrs
AHHI 5Mi $82,117

Lease Highlights

  • Big Lots has been operating in this location since 1978
  • Tenant has 2+ 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 guarantee by Big Lots, Inc. (NYSE: BIG)

Location Description

Big Lots is strategically located within in a Fit Republic and Cost Less Foods co-anchored shopping center, at the signalized, hard corner intersection of S. 11th Avenue and W. 5th Avenue, and at the on/off ramp to California Highway 198 (over 62,000 combined vehicles per day). S. 11th Avenue is a main north/south thoroughfare serving the city of Hanford with many strong national tenants,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Big Lots, Inc. (NYSE: BIG) is an American furniture and home decor discount retailer. The company is known for selling food and beverages, toys, furniture, clothing, housewares and small...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,196 69,032 76,347
2023 Total Population : 11,382 64,306 71,596
2023 Employed Civilian Pop : 4,050 25,751 28,867
2023 Total Businesses : 857 1,819 1,965
2023 Average Household Income : $ 62,612 $ 87,409 $ 90,041
2023 Total Consumer Spending : $ 197 M $ 1596 M $ 1836 M
2023 Median Age : 29 33 33
2023 Total Households : 3,604 21,066 23,503
2023 Pop Age 25+: Bachelor's Degree : 392 5,088 5,812
2023 Average Home Value : $ 266,488 $ 335,647 $ 342,013
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
198 2018 29,000 0.12 mi
CA 198 S 11th Ave 2021 31,750 0.15 mi
N 11th Ave W 6th St 2012 18,886 0.18 mi
Garner Ave W 7th St 2013 6,905 0.21 mi
State Rte 198 S 11th Ave 2017 27,500 0.21 mi
S 11th Ave Cadillac Ln 2000 15,717 0.24 mi
Garner Ave Goleta Way 2013 2,595 0.28 mi
State Rte 198 S 11th Ave 2012 23,600 0.33 mi
W 5th St S Williams St 2003 1,703 0.33 mi
W 7th St N Williams St 2013 8,736 0.34 mi

Listing Broker

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