Smart & Final Extra!
Retail | 6.00% CAP | 36,800 SqFt
Marketing description
Smart & Final Stores, LLC is a longstanding American warehouse-style grocery retailer that operates without a membership fee, serving both individual households and small businesses. Founded in 1871 as the Hellman-Haas Grocery Co. in Los Angeles, the company officially adopted the Smart & Final name in 1953 after the merger of its predecessor operations. Today, it is headquartered in Commerce, California, and focuses on offering fresh produce, meats, bulk pantry items, and everyday essentials at competitive prices in a no-frills, cash-and-carry format.
The company currently operates 254 stores across California, Nevada, and Arizona, primarily under the Smart & Final and Smart & Final Extra! banners. It employs more than 11,000 associates (team members) across its stores, distribution centers, and corporate offices. As a privately held subsidiary of Chedraui USA (owned by Mexican retailer Grupo Comercial Chedraui since 2021), Smart & Final emphasizes value, freshness, and convenience for its mixed customer base of families, restaurants, and small businesses.
Investment highlights
- Original 20-Year Lease with Over 15-Years Remaining
- Single tenant Smart & Final located in a prominent shopping center at the corner of N. First Street & E Nees Ave in Northern Fresno
- Triple Net Lease with minimal Landlord management responsibilities (see Lease Abstract page)
- 7.5% Rent Increases Every 5-Years & 10% Rent Increases at each option
- The lease offers attractive predetermined rent increases of 7.5% every 5-years
- There are 10% rent increases at each of the 3, 5-year option periods
- Avg. HHI of $113K (1-Mile) | Near Medical Centers, Schools, and Residential Communities
- The subject is located approximately 1-mile north of Kaiser Permanente Medical Center
- Kastner Intermediate School is situated just 1/4-mile south of the subject
- The subject property is surrounded by densely populated residential communities with over 5,245 households and 12,743 residents within a 1-mile radius
- Average Household Incomes exceed $113,000 within a 1-mile radius
- Corporate Lease: Smart & Final Stores, LLC (250+ Locations)
- Smart & Final is headquartered in Commerce, CA and operates over 250 locations in the Western Region of the U.S.
- Estimated annual revenues exceed $4 Billion with over 11,000 employees
- Dense Infill Fresno Location Situated just East of Highway 41
- The property is situated at the 4-way signalized corner of N First Street with excellent daily traffic counts of 20,047 VPD and E Nees Ave with high traffic counts of 29,504 VPD
- The subject is situated just east of Highway 41 (59,813 VPD), a north-south highway traversing all of Fresno and providing access to regional markets
- Surrounded by Nationally Recognized Tenants
- The property is situated at the prominent 4-way signalized corner of N First Street & E Nees Ave in Northern Fresno and surrounded by national retailers including: Walgreens, Starbucks, Dutch Bros, McDonald's, Jimmy John's, Taco Bell, Surf Thru Express Car Wash, Save Mart, Target, Barnes & Noble, Best Buy, Lowe's, Kohl's, In-N-Out Burger, Chick-fil-A, Dave & Buster's and many more
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