Listed by Colliers - Los Angeles - Orange County, California, Colliers - San Diego - Carlsbad, California
$8,250,000
Bevmo!, Jersey Mikes & Shops at Gilroy Crossing
Details
APN 841-70-054
Property Type Retail
Sub Type Storefront
Square Footage 17,285
Cap Rate 6.50%
Occupancy 92%
Tenancy Multi
Brand/Tenant Bevmo!, Jersey Mike's
Lease Type NNN
Year Built 2004
Retail | 6.50% CAP | 17,285 SqFt
Investment highlights
Long-Standing Anchor: BevMo! has been anchored since 2004 with a lease extending to 2030, ensuring reliable, sustained income.
Strong Sales Performance: BevMo! and Jersey Mike’s exhibit healthy rent-to-sales ratios (7% and 4.74% respectively), indicating strong performance.
Highly Visible Central Location: The property’s central placement within Gilroy Crossing boosts visibility and exposure to both foot and vehicle traffic.
Rent Growth Tailwinds: Upcoming rent increases and a small vacancy offer upside for NOI growth, with Jersey Mike’s slated for 12.5% increases starting 2028.
Ranked #1 Within a 25-Minute Drive: Gilroy Crossing ranks in the top 4% of shopping centers nationally with 5.1M annual visitors and is adjacent to major retailers.
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California, Colliers - San Diego - Carlsbad, California
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