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Grocery Outlet 1124 3rd St 18,100 SF Retail Building Crescent City, CA 95531 $2,723,339 ($150.46/SF) 5.75% Cap Rate
Investment Highlights
- Over 30 Years of Operating History
- Established and Expanding Grocery Operator
- Necessity-Based Retail Use
- Consistent Local and Regional Consumer Traffic
Executive Summary
Surmount is pleased to present the exclusive listing for a Grocery Outlet located at 1124 3rd Street in Crescent City, California. The property consists of approximately 18,100 rentable square feet situated on an estimated 1.32-acre parcel. Grocery Outlet has operated at the site since 1993 under a long-term Double Net (NN) lease structure. The current annual rent is $156,592 with scheduled 10% rental increases every six years.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
18,100 SF
Building Class
C
Year Built
1960
Price
$2,723,339
Price Per SF
$150.46
Cap Rate
5.75%
NOI
$156,592
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.32 AC
Opportunity Zone
Yes
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 118-110-002-000 | Improvements Assessment | $870,000 |
| Land Assessment | $685,000 | Total Assessment | $1,555,000 |
Property Taxes
Parcel Number
118-110-002-000
Land Assessment
$685,000
Improvements Assessment
$870,000
Total Assessment
$1,555,000
Contacts
-
Chris Mullin -
Daniel Price -
Glen Kunofsky -
Christopher Marks -
Thomas Jonsson -
Surmount
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Grocery Outlet | 1124 3rd St
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