Two Tenant Retail Investment
High Yield 7%+ In-Place Cap Rate | Anchored by Highest Trafficked Grocer in Barstow (Stater Bros.)
Marketing description
Progressive Real Estate Partners is pleased to present the opportunity to acquire a two-tenant retail building in Barstow, California. The property is anchored by a top-performing Stater Bros. Market, the primary grocery and daily-needs destination in the trade area, benefiting from approximately 1.7 million annual foot visits per Placer.AI. The asset is offered at an attractive 7.00% in-place cap rate, providing strong current income with additional upside, and at a compelling price point of approximately $166/SF, well below replacement cost for comparable grocery-anchored retail product. Rent-A-Center has operated at the property since 1995 and most recently renewed in 2022, demonstrating long-term commitment to the location. M&M’s Auto Repair occupies highly improved automotive space at a below-market $0.92/SF MG rent, creating a clear mark-to-market opportunity. The overall shopping center is 99% occupied, reflecting strong tenant demand. The property abuts Interstate 15, which carries approximately 24 million vehicles annually, and benefits from Barstow’s logistics-driven growth, anchored by BNSF Railway’s $3.8 billion Barstow International Gateway, projected to generate approximately 20,000 jobs.
Investment highlights
ANCHORED BY TOP PERFORMING STATER BROS. CENTER
THE Grocery-Anchored Retail Center in Barstow – Two-tenant retail property anchored by a top-performing Stater Bros. Market, the primary grocery and daily-needs destination in the trade area. Per Placer.AI, the center benefits from approximately 1.7 million annual foot visits.
Exceptional In-Place Yield – Offered at a high 7%+ in-place cap rate, providing strong current income plus additional upside.
Attractive Basis – Offered at approximately $166/SF, well below replacement cost for comparable grocery-anchored retail product.
Long-Term Rent-A-Center Tenancy – Rent-A-Center is a publicly traded company with over $4.16 billion in 2024 revenue and approximately 2,700 company-owned stores across the U.S., Mexico, and Puerto Rico. They have operated at the property since 1995 and most recently renewed in 2022, demonstrating long-standing commitment to the location.
________________________________________________________
STABILIZED CASH FLOW WITH EMBEDDED UPSIDE
Below-Market Automotive Lease with Significant Improvements – M&M’s Auto Repair pays $0.92/SF MG on a month-to-month lease, occupying highly functional automotive space featuring four bay doors, two subsurface oil change pits, and multiple lifts, supporting materially higher market rents.
Proven Center Performance – The overall shopping center is 99% occupied, reflecting strong tenant demand and limited competing grocery anchored retail supply in Barstow.
Prime Interstate 15 Exposure – Property abuts I-15, with an estimated 24 million vehicles annually traveling between Los Angeles and Las Vegas, providing exceptional regional visibility.
Logistics-Driven Economic Tailwinds – Barstow is undergoing significant investment, anchored by BNSF Railway’s Barstow International Gateway, an estimated $3.8 billion rail and logistics facility expected to generate approximately 20,000 jobs and strengthen long-term demand for retail.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
