✖
Grocery Outlet
1650 Highway 46, Wasco, CA 93280
$6,308,000
Cap Rate 5.20%
Summary
| Price $6,308,000 | Built/Renov 2023 | Tenant Grocery Outlet |
| Cap Rate 5.20% | Lease Type
NN+ | Guarantor Corp T and Rated |
| Size/SF
16,000
| Lease Start
06-15-2023
| #Units
448
|
| Price/SF $394.25 | Expiration
06-30-2038
| Tenant Type Grocery |
| NOI $328,000 | R. Term 14.6 | Ownership Fee Simple |
| Rent/SF
$20.50
| Increases 10.0%/5/yrs | Pop 5Mi 27,224 |
| Lot/AC 2.32 | Options 4/5yrs/10% | AHHI 5Mi $56,280 |
| | |
Lease Highlights
- Grocery Outlet recently signed a brand new 15-year lease with 3 (5-year) and 1 (4-year 11month) options to extend
- Lease features 10% rental increases throughout the initial term and each option
- Favorable NN+ lease with landlord responsible for roof and structure
- Corporate guaranteed lease
Location Description
Grocery Outlet is strategically located at the hard corner, signalized intersection of Highway 46 and Poplar Avenue which see a combined daily traffic count of 40,000+ vehicles passing by daily. It is also conveniently accessible from Interstate 5, and Highways 99, 43 and 58. The property benefits from extremely limited competition, as it is the only grocery outlet store in a 22-mile radius....
...Features
-
New construction
-
Dense retail corridor
-
Highway location
-
Top 100 MSA
-
Long 15+ yr lease
-
Strong sales history
-
Limited competition
-
Favorable NN+ lease
-
Traded and rated company
-
Corporate Guarantee
...
Maps
Tenant
- Tenant: Grocery Outlet
- Guarantor:Corp T and Rated
- Company:Grocery Outlet Holding Corp.
- # Units:448
- Moody’s: B1
- Stock:NASDAQ: GO
About Tenant
Grocery Outlet Holding Corp, dba Grocery Outlet Bargain Market, is an American discount closeout retailer of supermarket locations that offer deeply discounted, overstocked, and closeout products...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 11,895 | 23,531 | 28,175 |
| 2023 Total Population : | 11,745 | 23,355 | 27,992 |
| 2023 Employed Civilian Pop : | 4,884 | 9,054 | 9,179 |
| 2023 Total Businesses : | 285 | 418 | 450 |
| 2023 Average Household Income : | $ 68,553 | $ 67,394 | $ 68,114 |
| 2023 Total Consumer Spending : | $ 195 M | $ 374 M | $ 382 M |
| 2023 Median Age : | 29 | 28 | 29 |
| 2023 Total Households : | 3,227 | 6,328 | 6,404 |
| 2023 Pop Age 25+: Bachelor's Degree : | 259 | 585 | 634 |
| 2023 Average Home Value : | $ 253,061 | $ 290,642 | $ 291,916 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Palm Avenue | 9th Pl | 2021 | 16,350 | 0.09 mi |
| Paso Robles Hwy | N Poplar Ave | 2017 | 18,600 | 0.13 mi |
| Palm Ave | Persimmon St | 2017 | 3,005 | 0.17 mi |
| Paso Robles Hwy | Peters St | 2017 | 17,600 | 0.17 mi |
| 46 | 2018 | 17,700 | 0.21 mi | |
| 4th St | Poplar Ave | 2017 | 493 | 0.36 mi |
| 5th St | N Griffith Ave | 2017 | 1,953 | 0.51 mi |
| 7th St | Cedar Ave | 2017 | 3,322 | 0.58 mi |
| Broadway | 4th Pl | 2017 | 1,962 | 0.62 mi |
| Central Ave | Bettis Ave | 2017 | 4,594 | 0.66 mi |
