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Savers 5227 Lakewood Blvd 29,039 SF Retail Building Lakewood, CA 90712 $11,755,000 ($404.80/SF) 6.25% Cap Rate
Investment Highlights
- Publicly Traded, National Credit Tenant – 100% Leased to Savers Value Village, Inc. (NYSE: SVV), the largest for-profit thrift retailer in the U.S.
- Beneficial Rental Increases – The lease provides for 10% rental increases every 5 years
- High Traffic, Convenient Regional Location – Situated directly along Lakewood Blvd (±40,370 CPD)
- Long-Term NNN Lease – Savers is on a 10-year NNN lease
- Dominant Retail Hub Location – Lakewood Blvd is the dominant retail street and hub in the immediate trade area
Executive Summary
* Publicly Traded, National Credit Tenant – 100% Leased to Savers Value Village, Inc. (NYSE: SVV), the largest for-profit thrift retailer in North America, operating over 360 locations across the United States, Canada, and Australia.
* Savers operates within the rapidly expanding U.S. secondhand retail sector, which is currently estimated at approximately $61 billion and is projected to grow to $74 billion by 2029
* Long-Term NNN Lease – Savers is on a 10-year NNN lease which commenced in December 2023 and has over 7 years of firm remaining lease term
* Beneficial Rental Increases – The lease provides for 10% rental increases every 5 years with the next increase in December 2028, benefitting future cash flow and providing a hedge against inflation
* Dominant Retail Hub Location – Lakewood Blvd is the dominant retail street and hub in the immediate trade area, proving the viability of Savers as a retail property and location. In addition to adjacent retailers including Petco, Big 5 Sporting Goods, Hobby Lobby, and CVS, the property is located directly across the street from Lakewood Center, which is THE most visited regional mall in the country according to Placer.ai, with 22+ million visits over the past 12 months
* High Traffic, Convenient Regional Location – Situated directly along Lakewood Blvd (±40,370 CPD), the trade area’s primary north-south corridor, near the Candlewood St (±22,950 CPD) intersection. The property’s central location offers convenient local and regional connectivity via the I-405, I-605, I-710, and CA-91
* Savers operates within the rapidly expanding U.S. secondhand retail sector, which is currently estimated at approximately $61 billion and is projected to grow to $74 billion by 2029
* Long-Term NNN Lease – Savers is on a 10-year NNN lease which commenced in December 2023 and has over 7 years of firm remaining lease term
* Beneficial Rental Increases – The lease provides for 10% rental increases every 5 years with the next increase in December 2028, benefitting future cash flow and providing a hedge against inflation
* Dominant Retail Hub Location – Lakewood Blvd is the dominant retail street and hub in the immediate trade area, proving the viability of Savers as a retail property and location. In addition to adjacent retailers including Petco, Big 5 Sporting Goods, Hobby Lobby, and CVS, the property is located directly across the street from Lakewood Center, which is THE most visited regional mall in the country according to Placer.ai, with 22+ million visits over the past 12 months
* High Traffic, Convenient Regional Location – Situated directly along Lakewood Blvd (±40,370 CPD), the trade area’s primary north-south corridor, near the Candlewood St (±22,950 CPD) intersection. The property’s central location offers convenient local and regional connectivity via the I-405, I-605, I-710, and CA-91
Property Facts
Sale Type
Investment
Property Type
Building Size
29,039 SF
Building Class
B
Year Built/Renovated
2000/2024
Price
$11,755,000
Price Per SF
$404.80
Cap Rate
6.25%
NOI
$734,687
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
1.89 AC
Zoning
C4 - General Commercial
Parking
108 Spaces (3.72 Spaces per 1,000 SF Leased)
Frontage
208’ on Lakewood Blvd
Amenities
- Security System
- Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Savers began in 1954 with a first thrift shop in San Francisco's Mission District and has grown into a thrift business with stores in the U.S., Canada, and Australia. The company sells secondhand clothing, accessories, hard goods, electronics, books, and home goods through thrift stores and donation centers. Savers accepts donations on behalf of local nonprofit partners, pays those partners for reusable goods, and runs reuse and recycling programs designed to keep usable items out of landfills. The business positions thrift and reuse at the center of its model while serving shoppers seeking low-cost, pre-owned merchandise and communities that benefit from donation partnerships.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7155-001-014 | Improvements Assessment | $2,080,800 |
| Land Assessment | $3,911,904 | Total Assessment | $5,992,704 |
Property Taxes
Parcel Number
7155-001-014
Land Assessment
$3,911,904
Improvements Assessment
$2,080,800
Total Assessment
$5,992,704
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