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Grocery Outlet, Cave Junction, OR

Grocery Outlet

Cave Junction, OR

Price $5,697,000
Cap Rate 6.25%
NOI $356,040
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, Maintenance, and Repair, Including Roof Membrane, but Excluding Structure
Rental Increases 10.5% Rental Increases Every Five Years
Year Built 2018
Building Size 18,116 SF
Lot Size 3.64 Acres (158,558 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Oregon-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

RARE NET LEASE TO STRONG GROCERY TENANT
» Long-term, 10-year lease with five (5) five-year option periods
» Tenant is responsible for all maintenance, including roof membrane, but excluding structure
» 10.5% rental increases every five years, providing a hedge against inflation
» Grocery Outlet is the nation’s largest extreme value grocery retailer, with more than 300 locations and over $2 billion in annual revenue
» Grocery Outlet is continuing its expansion nationally, with 30 new stores expected to open by year-end 2018, and 40 more scheduled to open in 2019

HIGH-TRAFFIC LOCATION IN PROMINENT RETAIL AREA
» High-traffic location in prominent retail area
» Located at the signalized intersection of Redwood Highway (U.S. Route 199) and Caves Highway (Oregon Route 46), the primary intersection in Cave Junction
» Excellent visibility and access to 18,200 vehicles per day directly in front of the property
» Caves Highway is the primary route between Cave Junction and the Oregon Caves National Monument and Preserve, a major tourist attraction visited by over 80,000 people annually
» Redwood Highway serves as Cave Junction’s main retail and commercial corridor and connects the city to population centers in Grants Pass, Oregon and Crescent City, California
» Surrounded by a healthy mix of local and regional retailers, as well as several national tenants

CENTRAL LOCATION NEAR COMMUNITY AMENITIES
» Centrally located in downtown Cave Junction
» Within walking distance of several schools
» Close proximity to popular recreational areas and tourist destinations
» Surrounded by residential neighborhoods, which will be served by Grocery Outlet
» Only 50 miles from Medford Oregon and just 10 miles from the California/Oregon Boarder

NEW 2018 CONSTRUCTION
» High-quality construction, scheduled to be completed in December 2018
» Features latest Grocery Outlet store design and concepts
» Brand new building and construction, providing passive investment

Click Here to Download Offering Memorandum


Property Description

The property is strategically located at the signalized intersection of Redwood Highway (U.S. Route 199) and Caves Highway (Oregon Route 46), the primary intersection in Cave Junction, with excellent visibility and access to 18,200 vehicles per day. Caves Highway is the primary route between Cave Junction and the Oregon Caves National Monument and Preserve, a major tourist attraction visited by over 80,000 people annually. Redwood Highway serves as Cave Junction’s main retail and commercial corridor and connects the city to population centers in Grants Pass, Oregon and Crescent City, California. Located in Cave Junction’s primary retail area, the property is surrounded by a healthy mix of local and regional retailers, as well as several national tenants, including Chevron, NAPA Auto Parts, Dairy Queen, RadioShack, Subway, True Value Hardware, and Dollar General.

Centrally located in downtown Cave Junction, the property is close to important community amenities and popular recreational areas. Several schools are within walking distance of the property, including Illinois Valley High School (356 students), Evergreen Elementary School (446 students), and Lorna Byrne Middle School (241 students). Popular recreational areas and tourist destinations are located nearby. In addition to the Oregon Caves National Monument and Preserve, the property is close to Great Cats World Park, Illinois River Forks State Park, and Illinois Valley Golf Course, all of which attract visitors to the Cave Junction area. Additionally, the property is surrounded by residential neighborhoods, which will be served by Grocery Outlet.

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