27550 Base Line St
Highland, CA 92346
Smart & Final · Retail Property For Sale

Marcus & Millichap has been selected to exclusively market for sale a Smart & Final Extra! located in Highland, California and part of the Inland Empire. The property, completed in December 2017, has a brand new 20-year lease with 7.5% rental increases every 5 years in both the primary term and the four, five-year renewal options (if exercised). There is a rare absolute triple net lease with zero landlord maintenance responsibilities. The corporate lease entity is Smart & Final Stores, LLC(1). Smart & Final has three major areas of differentiation: a dual base of business and household customers, strong offering of warehouse and retail SKUs (stock keeping units), and a deep private label program. On average across the Smart & Final banner, items are priced 8% to 12% below conventional grocery stores and priced competitively with Walmart & Costco. The property is strategically positioned on a signalized corner located less than 1/4 mile from Interstate 210, with average daily traffic counts of 70,000. The proximity to the freeway will allow both business and household customers easy accessibility to the store with ingress/egress on both streets (Buckeye and Church). The property also benefits by having 180 feet unobstructed exposure along Base Line Street, with average daily traffic counts of 22,400. The San Bernardino International Airport is also located less than five miles southwest of the subject property. Other major retailers in the area include Walgreens, AutoZone, Bakers Drive-Thru, Valero, Arco, McDonalds, Little Caesars, Taco Bell, and many others. There are 79,212 residents with an average household income of $70,818 within a three-mile radius.