291 MCCRAY ST, HOLLISTER, CA 95023-4094

Rare Single-Tenant Absolute NNN Grocery Asset

This investment offering includes a ±62,239 SF single-tenant Lucky California grocery store on a ±5.56-acre parcel, operating under an absolute NNN lease with zero landlord responsibilities. Located in the heart of Hollister, which is the county seat of San Benito County and one of the most populous cities in the Monterey Bay Area.

Prime Infill Monterey Bay Area Location

Lucky is located in a dense commercial area surrounded by rooftops, shops, parks, and schools. Nearby national retailers include Target, McDonald’s, Jack in the Box, TJ Maxx, ULTA, Boot Barn, Dutch Bros., and more. The property benefits from 17,600 cars per day at the intersection of Meridian Street and McCray Street, offering exceptional visibility and access.

Corporate Lease with Save Mart Companies

The Tenant, Lucky, is operated by Save Mart Companies, which operates more than 200 stores across California, Nevada, Oregon, and Washington under the Save Mart, Lucky, FoodMaxx, Roth’s, and Chuck’s Fresh Markets banners. The lease is corporate-backed, providing credit security. The supermarket has an in-store pharmacy in addition to grocery items.

Strong Parent Company – The Jim Pattison Group

Save Mart is owned by The Jim Pattison Group, a diversified conglomerate with over $19 billion in annual revenue and 59,000+ employees, further enhancing the credit profile of the tenancy.

Fee Simple Ownership with Depreciation Benefits

Investors benefit from fee simple ownership and the ability to depreciate improvements, enhancing after-tax cash flow.

Long-Term Lease with Built-In Growth

The lease commenced in December 2021 and runs through November 2036, with approximately eleven (11) years remaining. It includes 1.75% annual rent increases and three (3), five (5)-year options plus one (1), three (3)-year and eleven (11)-month option, ensuring stable and growing cash flow.

Essential Daily Needs Retailer

Lucky serves as a critical provider of fresh and organic groceries to the surrounding community. As one of the few grocery-anchored centers in the area, Lucky is a key retail destination.

Absolute NNN Lease – Zero Landlord Responsibilities

The tenant is responsible for all expenses, including property taxes, insurance, utilities, HVAC, CAM, roof, structure, and parking—offering a true passive investment.

Retail Synergy in Shopping Plaza

The subject property is part of a well-established shopping center with national co-tenants including Autozone, Wells Fargo, Jack in the Box, KFC, Big 5 and multiple daily needs tenants, driving consistent foot traffic and cross-shopping.

Ideal 1031 Exchange Opportunity

With a corporate-backed lease, strong NOI growth, and zero management, this asset is a perfect fit for investors seeking a stable, long-term, cash-flowing 1031 exchange replacement.