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168 Market | 11yrs Corp NNN w/ Increases 765 Sereno Dr 28,008 SF Retail Building Vallejo, CA 94589 $5,950,000 ($212.44/SF) 6.12% Cap Rate
Investment Highlights
- Corporate Guaranteed Lease | 11 Years Remaining |Affiliated With Tawa Supermarket, Inc. / 99 Ranch Market
- Adjacent To Walmart Neighborhood Market | Near Kaiser Permanente Medical Center (267 Beds)
- NNN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, 168 Market investment property located in San Francisco Bay Area, California. 168 Market operates within the Tawa Supermarket grocery platform, the company behind 99 Ranch Market. The affiliation provides the subject property with the backing of an established Asian grocery operator with a growing nationwide presence. The lease has approximately 11 years remaining with 3 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the remaining initial term and at the beginning of each option period, steadily growing NOI and providing a hedge against inflation. The lease is NNN with Landlord responsible for structural elements, providing downside protection, while Tenant covers all operational costs. Ideal for an passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
28,008 SF
Building Class
C
Year Built/Renovated
1977/2022
Price
$5,950,000
Price Per SF
$212.44
Cap Rate
6.12%
NOI
$364,104
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.25
Lot Size
2.57 AC
Opportunity Zone
Yes
Zoning
Neighborhood Mixed Use
Parking
129 Spaces (4.61 Spaces per 1,000 SF Leased)
Frontage
235’ on Sereno Dr
Amenities
- Dedicated Turn Lane
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- 168 Market
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| 168 Market | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0052-180-090 | Improvements Assessment | $1,563,263 |
| Land Assessment | $274,599 | Total Assessment | $1,837,862 |
Property Taxes
Parcel Number
0052-180-090
Land Assessment
$274,599
Improvements Assessment
$1,563,263
Total Assessment
$1,837,862
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