980 S Main St, Colville, WA 99114 For Sale

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a corporate guaranteed (NASDAQ: GO), Grocery Outlet investment property located in Colville, Washington. The tenant, Grocery Outlet, Inc., has approximately 7-years remaining on its lease with 4 (5-year) options to extend. The lease features 10% rental increases every 5-years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. Grocery Outlet is a high-growth, value retailer of quality, name-brand consumables and fresh products sold through a network of more than 540 independently operated stores across 16 states, including approximately 80 locations throughout Washington State. The offering also includes an additional 4,174 square feet of vacant space.

The site benefits from excellent visibility and access along S. Main Street, the primary retail thoroughfare serving the surrounding area and supporting 12,500 vehicles passing daily. Grocery Outlet receives consumer traffic from its position along the thoroughfare and crossover retail exposure derived from nearby national/credit retailers including Walmart Supercenter, Safeway, Super 1 Foods, McDonald’s, and Taco Bell. The tenant has access to a direct consumer base in the immediate area, comprised of many single family homes along with the Spokane Community College Colville Campus. In addition to the local consumer population, Colville experiences seasonal tourism due to its position as a gateway for travelers to the Colville National Forest. The federal landmark encompasses over 1.5 million acres of forest and serves as one of the most popular outdoor destinations in the northwest. The 5-mile trade area is supported by a population of over 8,500 residents and 5,000 employees with an average household income of $82,190.