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1011 W Olive Ave 85,892 SF 100% Leased Retail Building Merced, CA 95348 $32,925,520 ($383.34/SF) 6.25% Cap Rate
Investment Highlights
- Synergistic Tenancy Line Up with Ideal Merchandising Mix
- Highly Secured Long-Term Income Stream with New 10-Year NNN Leases
- Tremendous Underlying Retail Market Fundamentals with Low Vacancy & Scarce Supply
- 100% leased to National / Regional recognized credit tenants
- Irreplaceable “Main & Main” Location in the Heart of Merced’s Retail Corridor
Executive Summary
Kidder Mathews, in partnership with Retail California, as exclusive advisor to Owner is pleased to present The Shoppes at Merced, a newly repositioned ±85,892 SF best-in-class community center.
A former Sears Box, the asset recently completed a successful full-scale redevelopment and lease up campaign resulting in a synergistic national and credit tenant line up of Burlington, PetCo, Five Below, ULTA, Carter’s, Tilly’s, Rack Room Shoes, Bed Bath & Body Works, and Mattress Firm. The newly signed leases (±10.0 WALT) offer highly secured long-term income from a diverse and complimentary tenant roster. The property boasts a “main & main” location within the heart of Merced’s primary retail corridor at the high traffic (±40,459 VPD) signalized intersection of W Olive Ave & R Street. The property is immediately adjacent Marketplace at Merced (Merced’s only regional shopping mall which is currently undergoing a major renovation) creating strong foot traffic and cross-shopping from an existing loyal customer base In Downtown Merced.
A former Sears Box, the asset recently completed a successful full-scale redevelopment and lease up campaign resulting in a synergistic national and credit tenant line up of Burlington, PetCo, Five Below, ULTA, Carter’s, Tilly’s, Rack Room Shoes, Bed Bath & Body Works, and Mattress Firm. The newly signed leases (±10.0 WALT) offer highly secured long-term income from a diverse and complimentary tenant roster. The property boasts a “main & main” location within the heart of Merced’s primary retail corridor at the high traffic (±40,459 VPD) signalized intersection of W Olive Ave & R Street. The property is immediately adjacent Marketplace at Merced (Merced’s only regional shopping mall which is currently undergoing a major renovation) creating strong foot traffic and cross-shopping from an existing loyal customer base In Downtown Merced.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
85,892 SF
Building Class
B
Year Built/Renovated
1990/2025
Price
$32,925,520
Price Per SF
$383.34
Cap Rate
6.25%
NOI
$2,057,845
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
8.06 AC
Zoning
P-D1 - Planned Development
Bike Score®
Very Bikeable (85)
Nearby Major Retailers
Property Taxes
| Parcel Number | 236-220-047 | Improvements Assessment | $2,270,000 |
| Land Assessment | $5,070,000 | Total Assessment | $7,340,000 |
Property Taxes
Parcel Number
236-220-047
Land Assessment
$5,070,000
Improvements Assessment
$2,270,000
Total Assessment
$7,340,000
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1011 W Olive Ave
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