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Smart & Final Extra! 1700 High St 33,200 SF Retail Building Delano, CA 93215 $5,557,043 ($167.38/SF) 5.75% Cap Rate
Investment Highlights
- Approximately 9 Years of Primary Lease Term Remaining
- 7.50% Rent Increases Through Primary Term and Options
- Absolute NNN Lease Structure with Zero Landlord Obligations
Executive Summary
The Snyder Carlton Team is pleased to present for sale the high-performing single-tenant Smart & Final Supermarket located at 1700 High Street in Delano, CA. Smart & Final purchased the property in October of 2013, signed a new 20 Year NNN lease via a sale-leaseback structure in 2014, and completely remodeled the interior and exterior of the store prior to opening for business. The property is leased by Smart & Final Stores LLC on a corporate-guaranteed triple-net lease. This property has served as a grocery store (formerly Save Mart Supermarket) in the Delano community for over 40 years, reflecting the strength and success of this location. The asset offers investors the opportunity to acquire a successful grocery chain on a long-term lease with below-market rent and zero landlord responsibilities.
Per Placer.ai, this store ranks 11/251 and is in the 96th percentile of all Smart & Final stores nationwide. The nearest Smart & Final locations are in Bakersfield (~37 miles away) and Porterville (~29 miles away).
Smart & Final is the anchor tenant of Delano Village Shopping Center and occupies 33,200 SF of GLA. Additional tenants within the shopping center include Starbucks, O’Reilly Auto Parts, Citizens Business Bank, and AT&T. Delano Village is located just off Highway 99, the major highway connecting Sacramento to Bakersfield.
Per Placer.ai, this store ranks 11/251 and is in the 96th percentile of all Smart & Final stores nationwide. The nearest Smart & Final locations are in Bakersfield (~37 miles away) and Porterville (~29 miles away).
Smart & Final is the anchor tenant of Delano Village Shopping Center and occupies 33,200 SF of GLA. Additional tenants within the shopping center include Starbucks, O’Reilly Auto Parts, Citizens Business Bank, and AT&T. Delano Village is located just off Highway 99, the major highway connecting Sacramento to Bakersfield.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
33,200 SF
Building Class
C
Year Built/Renovated
1986/2014
Price
$5,557,043
Price Per SF
$167.38
Cap Rate
5.75%
NOI
$319,530
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
3.37 AC
Zoning
GC
Amenities
- Signage
- Monument Signage
Walk Score®
Very Walkable (81)
Nearby Major Retailers
Property Taxes
| Parcel Number | 411-160-03-00-2 | Improvements Assessment | $4,222,236 |
| Land Assessment | $1,801,562 | Total Assessment | $6,023,798 |
Property Taxes
Parcel Number
411-160-03-00-2
Land Assessment
$1,801,562
Improvements Assessment
$4,222,236
Total Assessment
$6,023,798
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Smart & Final Extra! | 1700 High St
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