Listed by Essential Capital Advisors
$7,780,000
Best Buy
Details
APN 107-240-023-000
Property Type Retail
Sub Type Shopping Center
Square Footage 30,740
Cap Rate 6%
NOI $466,620
Occupancy 100%
Tenancy Single
Brand/Tenant Best Buy
Lease Type NN
Lease Expiration 01/26/2027
Remaining Term 0.6
Rent Bumps Yes
Lease Options Three, 5-Year
Price per SqFt $253
Year Built 2003
Acreage 2.510
Zoning RC
Parking Spaces 4.35 per 1,000 sq ft
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 01/31/2003
Ownership Fee Simple
Prominent Power Center Location Directly off Interstate 5
Investment highlights
- High-visibility national credit, single tenant big box asset with 5.5+ years remaining on NN Lease - one, 5-year options remaining with 7% increase
- Strong historical occupancy - 23 years at current location, $33M in store sales - $1,073 PSF, 136,400 visitors per year (Placer AI)
- Tenant has invested significant capital into interior upgrades and improvements with long term commitment to this strategic location that serves both retail and distribution purposes
- Located directly off Interstate 5 in Redding, CA (Shasta County), only Best Buy store in 72 mile radius
- Situated within a prominent power center anchored by TJ Maxx, BevMo, Barnes & Noble, Aaron's, Michaels, World Market, and PetSmart, with Bank of America and Verizon on pads
- Across the street from Town & Country Center and Hilltop Center, anchored by Kohl's, Dick's Sporting Goods, Trader Joe's, Home Depot with Starbucks, Jersey Mike's, AT&T Store and The UPS Store on pads
- Within immediate proximity to Shasta Mall, anchored by Sprouts, Macy's, JCPenney, and Ulta Beauty, with Chick-fil-A, Outback Steakhouse, Panda Express, Chase Bank, and Rabobank on pads
- NYSE: BBY is the largest consumer electronics retailer in the United States, operating over 1,000 stores across North America
- Investment grade tenant (S&P, BBB+, Moody’s, A3) providing landlords with a strong covenant and reliable rental income stream
- The company generates approximately $45+ billion in annual revenue, consistently ranking among the top 100 largest corporations in the U.S.
- A strong omnichannel presence integrates its physical store network with a robust e-commerce platform, making each location a destination for in-store pickup and returns
- Physical stores serve as essential fulfillment hubs, a model that has proven resilient against e-commerce competition by offering sameday pickup, Geek Squad services, and hands-on product experiences
Listing Contacts
Listed by Essential Capital Advisors
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$466,620.00
$38,885.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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