1515 SLOAT BL San Francisco CA 94132-1222

Rare Absolute NNN Grocery Asset - Prime San Francisco Location

Rare Absolute NNN Grocery Asset

A ±49,188 SF single-tenant Lucky California grocery store on a ±2.32 acre parcel, operating under an absolute NNN lease with zero landlord responsibilities. Located in Lakeshore Plaza – one of the top ranked neighborhood centers in California (100/1,780 = top 96%), according to Placer.ai.

Prime San Francisco Infill Location

Situated in the affluent Sunset District, just blocks from the Pacific Ocean, San Francisco State University, TPC Harding Park, and the San Francisco Zoo. The property benefits from 66,000 cars per day along Sloat Blvd (Highway 35), offering exceptional visibility and access.

Corporate Lease with Save Mart Companies

The tenant, Lucky California, is operated by Save Mart, which runs nearly 200 stores across California and Nevada under the Save Mart, Lucky, and FoodMaxx banners. The lease is corporate-backed, providing institutional-grade security.

Strong Parent Company – The Jim Pattison Group

Save Mart is owned by The Jim Pattison Group, a diversified conglomerate with over $19 billion in annual revenue and 59,000+ employees, further enhancing the credit profile of the tenancy.

Long-Term Lease with Built-In Rental Growth

The lease commenced in December 2021 and runs through November 2036, with ~11 years remaining. It includes 1.75% annual rent increases and three 5-year options plus one 3-year, 11 month option, ensuring stable and growing cash flow.

Essential Daily Needs Retailer

Lucky California serves as a critical provider of fresh and organic groceries to the surrounding community. As one of the few grocery-anchored centers in the area, Lakeshore Plaza is a key retail destination.

Absolute NNN Lease – Zero Landlord Responsibilities

The tenant is responsible for all expenses, including property taxes, insurance, utilities, CAM, roof, structure, and parking—offering a true passive investment.

Retail Synergy in Lakeshore Plaza

The property is part of a well-established shopping center with national co-tenants including Ross, Petco, Wells Fargo, UPS, and Big 5, driving consistent foot traffic and cross-shopping.

Ideal 1031 Exchange Opportunity

With a corporate-backed lease, strong NOI growth, and zero management, this asset is a perfect fit for investors seeking a stable, long-term, cash-flowing 1031 exchange replacement.

Fee Simple Ownership with Depreciation Benefits

Investors benefit from fee simple ownership and the ability to depreciate improvements, enhancing after-tax cash flow.