Listed by Hanley Investment Group, Retail California
$5,470,000
Grocery Outlet | Wasco, CA
Details
Property Type Retail
Sub Type Grocery Store
Square Footage 16,000
Net Rentable (SqFt) 16,000
Cap Rate 6%
NOI $328,000
Occupancy 100%
Tenancy Single
Brand/Tenant Grocery Outlet
Lease Type NNN
Lease Term 15.1
Lease Expiration 06/30/2038
Remaining Term 12.1
Rent Bumps Yes
Lease Options Three 5-Year & One 4-Year, 11 Month @ 10% Increases
Price per SqFt $342
Broker Co-Op Yes
Year Built 2023
Buildings 1
Stories 1
Acreage 2.320
Lease Commencement 06/15/2023
15-Year NNN Lease | Corporate Guaranty (NASDAQ: GO) | Only Grocery Outlet in a 22-Mile Radius
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/Groceryoutlet_Wasco
Investment highlights
- Corporate Grocery Outlet (NASDAQ: GO; S&P: 400)
- New 15-year lease with 10% increases every 5 years
- Grocery Outlet describes itself as the nation’s fastest-growing extreme-value grocery retailer, and opened 67 stores in 2024 and plans to open 33-35 stores by the end of 2025
- Grocery Outlet has 550+ stores across 16 states and $4.1 billion in annual revenue
- Only Grocery Outlet in a 22-mile radius
- Wasco is Within the Logistics Hub of Central California and the Entire Western Region:
- Conveniently Accessible to Interstate 5 and State Highways 99, 46, 43, and 58
- Prime Weekend and Commuter Traffic Location Connecting to Paso Robles Along CA-46
- High-Growth Trade Area: 12.74% population growth from 2010 to 2020 within a 3-mile radius; 17.32% increase in households from 2010 to 2020 within a 5-mile radius
- Prime Central Valley Location: California’s Central Valley has one of the world’s largest economies and is located within four hours of 90% of the state’s population. Wasco is a 2-hour drive to Los Angeles and 4 hours to San Diego, Sacramento and Bay Area markets.
Listing Contacts
Listed by Hanley Investment Group, Retail California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$328,000.00
$27,333.33/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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