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99 Cents Only, Los Banos, CA

99 Cents Only

CA, United States

Price $5,000,000
Cap Rate
NOI
Lease Term 12 Years
Lease Type
Rental Increases 4% rental increases on June 1, 2018, June 1, 2023, and in each option period
Year Built 2016
Building Size 16,450 SF
Lot Size 1.64 Acres (71,438 SF)
Status Sold
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

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 12-year lease with scheduled rental increases in initial term and option periods, providing a hedge against inflation
» Absolute NNN lease requires no landlord management, ideal for an out-of-area investor

HIGH-TRAFFIC LOCATION AT SIGNALIZED HARD CORNER
» Located at the signalized hard corner of West Pacheco Boulevard and Ortigalita Road, with excellent visibility and access to 32,940 vehicles per day
» Pacheco Boulevard is the primary thoroughfare in Los Banos
» Pacheco Boulevard becomes the main freeway through Pacheco Pass, the primary route between the Santa Clara Valley and the Central Valley
» Close proximity to the intersection of Pacheco Boulevard and Interstate 5, the main interstate highway on the West Coast and the primary route between Los Angeles and Sacramento

EXCELLENT LOCATION IN DENSE RETAIL CORRIDOR
» Outparcel to retail center anchored by Tractor Supply Company and DaVita
» Adjacent to Stonecreek Plaza, the largest shopping center in Los Banos
» Major retailers in the immediate area include Target, Walmart Supercenter, JCPenney, McDonald’s, Payless, Ford, Petco, Starbucks, O’Reilly Auto Parts, and many others

BRAND NEW 2016 CONSTRUCTION
» High-quality construction featuring latest 99 Cents Only prototype

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the signalized hard corner of West Pacheco Boulevard and Ortigalita Road, with excellent visibility and access to 32,940 vehicles per day. A heavily-trafficked roadway, Pacheco Boulevard is the main thoroughfare through Los Banos; intersects with Interstate 5 approximately five miles west of the property; and travels through Pacheco Pass, the main path through the hills separating the Santa Clara Valley and the Central Valley and a popular route for commuters to and from the San Francisco Bay Area. Pacheco Boulevard also serves as the main commercial corridor in Los Banos, and a number of large shopping plazas and major national retailer are near the property. The property is outparcel to Ortigalita Plaza, anchored by Tractor Supply Company. The property is directly adjacent to Stonecreek Plaza, a 343,495 square foot shopping center anchored by Target and Hobby Lobby. The center features a number of major retailers, including Petco, GameStop, Dollar Tree, Famous Footwear, GNC, Sprint, Starbucks, and Sally Beauty. Other national tenants near the site include Walmart Supercenter, JCPenney, McDonald’s, Payless, Ford, KFC, O’Reilly Auto Parts, True Value, Denny’s, and others.

Downtown Los Banos is just over a mile from the property. Los Banos Airport is directly across from the property, while Sutter Health Memorial Hospital Los Banos is less than a mile away. The property is just over a mile and a half from Los Banos High School, which has an enrollment of approximately 1,500 students. Additionally, the property is near newly built Creekside Junior High, which opened for the 2016-2017 school year and has a current enrollment of 700 students. Other developments in the area include Southbrook, a neighborhood of single family homes.

Contact Us About This Property

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