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Grocery Outlet 18426 S State Highway 29 18,000 SF Retail Building Middletown, CA 95461 $4,800,000 ($266.67/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-year net lease (11.5 years remaining) to Grocery Outlet, with over 500 locations nationwide.
- Corporate-backed lease by Grocery Outlet Inc., a publicly traded company (NASDAQ: “GO”), enhances investment security with a proven track record.
- The site’s proximity to State Route 29 allows the property to capture significant local and commuter traffic.
- 10% rental increases every five (5) years in the initial term and four (4) option periods.
- High-visibility and easily accessible location along Hartmann Road, a primary east-west Middletown thoroughfare.
- Location serves as the only Grocery Outlet location within a 15-mile radius of the property.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
18,000 SF
Building Class
B
Year Built
2022
Price
$4,800,000
Price Per SF
$266.67
Cap Rate
6.50%
NOI
$312,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.56 AC
Zoning
GC - General commercial
NEARBY MAJOR RETAILERS
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Grocery Outlet | 18426 S State Highway 29
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