Listed by CBRE - Orange County
$11,755,000
Savers
Details
APN 7155-001-014
Property Type Retail
Sub Type Grocery Store
Square Footage 29,039
Net Rentable (SqFt) 29,039
Cap Rate 6.25%
NOI $734,687
Tenancy Single
Brand/Tenant Savers
Lease Term 10
Lease Expiration 12/13/2033
Remaining Term 7.4
Lease Options Two 5-Year
Price per SqFt $405
Year Built 2000
Year Renovated 2024
Buildings 1
Acreage 1.890
Zoning C4-General Commercial
Lease Commencement 12/14/2023
Retail | 6.25% CAP | 29,039 SqFt
Marketing description
- Publicly Traded, National Credit Tenant – 100% Leased to Savers Value Village, Inc. (NYSE: SVV), the largest for-profit thrift retailer in North America, operating over 360 locations across the United States, Canada, and Australia.
- Savers operates within the rapidly expanding U.S. secondhand retail sector, which is currently estimated at approximately $61 billion and is projected to grow to $74 billion by 2029
- Long-Term NNN Lease – Savers is on a 10-year NNN lease which commenced in December 2023 and has over 7 years of firm remaining lease term
- Beneficial Rental Increases – The lease provides for 10% rental increases every 5 years with the next increase in December 2028, benefitting future cash flow and providing a hedge against inflation
- Dominant Retail Hub Location – Lakewood Blvd is the dominant retail street and hub in the immediate trade area, proving the viability of Savers as a retail property and location. In addition to adjacent retailers including Petco, Big 5 Sporting Goods, Hobby Lobby, and CVS, the property is located directly across the street from Lakewood Center, which is THE most visited regional mall in the country according to Placer.ai, with 22+ million visits over the past 12 months
- High Traffic, Convenient Regional Location – Situated directly along Lakewood Blvd (±40,370 CPD), the trade area’s primary north-south corridor, near the Candlewood St (±22,950 CPD) intersection. The property’s central location offers convenient local and regional connectivity via the I-405, I-605, I-710, and CA-91
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$734,687.00
$61,223.92/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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