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2372 Patterson Rd
Riverbank, CA 95367
Grocery Outlet · Retail Property For Sale

Investment Highlights

  • 15-year net lease to Grocery Outlet, with over 520 locations nationwide.
  • Corporate-backed lease by Grocery Outlet Inc., a publicly traded company (NASDAQ: “GO”), enhances investment security with a proven track record.
  • The company narrowed its 2025 net sales outlook to a range of about $4.70B to $4.72B, which represented roughly 5% to 6% year-over-year growth.
  • 10% rental increases every five (5) years in the initial term and four (4) option periods.
  • Grocery Outlet has demonstrated financial stability, with a market cap exceeding $1.5 billion as of 2025.
  • Grocery Outlet plans to open approximately 30–35 net new stores in 2026.

Executive Summary

Positioned at the signalized intersection of Patterson Road and Estelle Avenue, this Grocery Outlet benefits from exceptional visibility, convenient access, and direct frontage along State Route 108, where approximately 26,000 vehicles pass daily. The property is supported by a strong and growing consumer base, with 132,864 residents within a five-mile radius and an average household income of $131,214 within three miles. Grocery Outlet further enhances the investment profile through its established operating history and financial strength, maintaining a market capitalization exceeding $1.5 billion as of 2025. The location is also well positioned near key regional demand drivers, including the Riverbank Crossroads shopping center, located just two miles south and attracting more than 8 million visitors annually, as well as Memorial Medical Center, a 423-bed healthcare facility approximately 4.5 miles away. Centrally situated between San Francisco, San Jose, and Sacramento, the property offers convenient access to Bay Area commuters and regional travel corridors. Projected household income growth across the one-, three-, and five-mile trade areas further supports the area's long-term retail demand and continued economic expansion.

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,000 SF
Building Class
B
Year Built
2026
Price
$7,566,000
Price Per SF
$472.88
Cap Rate
5.75%
NOI
$435,045
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.92 AC
Parking
47 Spaces (2.94 Spaces per 1,000 SF Leased)
Frontage
250’ on Patterson Road

Property Taxes

Property Taxes

Parcel Number
075-11-33
Land Assessment
$2,192,796
Improvements Assessment
$0
Total Assessment
$2,192,796
  • Listing ID: 41406785

  • Date on Market: 7/23/2026

  • Last Updated:

  • Address: 2372 Patterson Rd, Riverbank, CA 95367

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