4217 Montclair St
Los Angeles, CA 90018
Rancho Market · Retail Property For Sale

Marcus & Millichap is pleased to present the sale leaseback of Rancho Market on Montclair Street in the Jefferson Park neighborhood west of University of Southern California in the city of Los Angeles. Rancho Market is a popular fixture in the community for over 30 years, providing a wide variety of grocery items including beverages, fresh produce, meat, packaged goods and prepared foods. The operator is an experienced grocer with 13+ years of profitable history at this location. Rent to Sales ratio is mere 7.9% on reported sales on tax return! With no grocery competition within 0.3 miles, Rancho Market is perfectly situated to serve this working-class neighborhood, which has a high walkability score of 81. The store is favored by local residents and has an average ranking of four stars on Google reviews. One customer wrote, “My favorite store in this area. They have everything and the owner is always very nice.” At the close of escrow, the operator will execute a 10-year absolute NNN lease with four five-year renewal options and 2 percent rent increase every year. The subject property, with convenient street and rear parking, is just south of Montclair Street and West Adams Boulevard -- a prime East-West artery traversed by nearly 50,000 vehicles per day. This dense, urban infill location has more than 49,000 residents within the one-mile radius dominated by multifamily complexes. The neighborhood’s desirable location halfway between Downtown and Westside has made Jefferson Park one of the hottest real estate markets in the city. The property is merely a quarter mile from the key interchange of Crenshaw Boulevard and the famous Santa Monica Freeway that runs through the heart of Los Angeles, and is just two short blocks away from the heavily trafficked signalized intersection of Crenshaw Boulevard and West Adam Boulevard. Major national tenants in the immediate vicinity include 76 Gas, Ace Hardware, Chevron, Bank of America, El Pollo Loco, Little Caesars, McDonald’s, Subway and Taco Bell. The proximity to Crenshaw Boulevard positions the subject within the Crenshaw Corridor Specific Plan Area. This economic revitalization and redevelopment zone is driven by two immense public transportation projects -- the Metro Rail Expo Line and the Crenshaw/LAX Light Rail -- which will deliver direct rail connection to Los Angeles International Airport beginning in 2019. With a large stretch of the light rail running along Crenshaw Boulevard and the Expo/Crenshaw rail station nearby, the area is attracting large-scale real estate developments. Just east of the subject on Crenshaw Boulevard and West 28th Street, the 50-unit Crenshaw Villa senior housing complex is being built by the Retirement Housing Foundation which operates 191 senior communities in 29 states.