Investment Summary
Price | $9,525,000 |
Cap Rate | |
NOI | |
Lease Term | 6 Years Remaining |
Lease Type | Net, with Tenant Responsible for All Insurance Utilities, Taxes, and Maintenance, Excluding Roof and Structure |
Rental Increases | 10% Rental Increases Every 5 Years |
Year Built | 2001 |
Building Size | 45,337 SF |
Lot Size | 4.42 Acres (192,535 SF) |
Status | Sold |
Lead Brokers | Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NET LEASE TO STRONG CORPORATE TENANT
» Net lease provides ideal low-management investment for an out-of-area investor
» Raley’s is a dominant grocery chain, with over 124 locations throughout Northern California and Nevada
» Raley’s is ranked the 135th largest American private company, with over $3.2 billion in annual revenue
STRONG OPERATING HISTORY AND SALES VOLUME
» Raley’s has operated successfully in the Oakdale submarket since 2008 and exercised their first option, demonstrating a long-term commitment to this location
» Excellent sales volume of over $18 million annually
BUSY LOCATION IN POPULAR RETAIL CENTER
» Located at a hard corner, signalized intersection, with 32,644 vehicles per day in front of the site
» Anchor to large shopping center featuring CVS Pharmacy, Big 5 Sporting Goods, Tractor Supply Company, and others
CENTRAL LOCATION NEAR MAJOR RETAIL CENTERS
» Property is centrally located just one mile from downtown Oakdale
» Directly across from Kmart-anchored shopping center
» Tenants in the immediate area include Payless, Rite Aid, Aaron’s, and Dollar Tree
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located at the signalized hard corner of East F Street and North Maag Avenue, with excellent visibility and access to 32,644 vehicles per day. The property is located within a popular multi-tenant shopping center with major national tenants, including CVS Pharmacy, Big 5 Sporting Goods, and Tractor Supply Company. The property is next to several other major retail centers; tenants in the immediate area include Kmart, Aaron’s, Payless Shoe Source, and Rite Aid. The site is centrally located just one mile from downtown Oakdale. In addition to the retail area surrounding the site, the property also benefits from its close proximity to multiple residential neighborhoods, which are served by Raley’s.