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Big Lots Leasehold, Folsom, CA

Big Lots Leasehold

Folsom, CA

Price $2,175,000
Cap Rate 8.25%
NOI $179,445
Lease Term 9 Year Remaining
Lease Type NNN
Rental Increases 15% Rental Increases in Option 1 and 10% Rental Increase in Option 2
Year Built
Building Size 42,286 SF
Lot Size
Status Available
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

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

Investment Highlights

NNN LEASE TO STRONG CORPORATE TENANT WITH RECENT EXPANSION AND NEW LONG-TERM LEASE
» NNN lease guaranteed by Big Lots, Inc., rated “BBB” by Standard & Poor’s
» Big Lots recently extended their lease another 10 years, and expanded their square footage by 18,254 SF
» Massive 15% rental increase in the first option period, followed by a 10% rental increase in the second option period, providing an excellent hedge against inflation
» Big Lots operates over 1,400 stores across the U.S. and makes $5.2 billion in annual revenue

HIGH-TRAFFIC LOCATION IN ESTABLISHED SHOPPING CENTER
» Located in prime commuter corridor on two major arterials
» Signalized intersection of Madison Avenue and Greenback Lane experiences a high traffic count of 54,132 vehicles per day
» Anchor tenant in established community shopping center featuring major national retailers, including Ace Hardware, Starbucks, Sport Clips, Round Table Pizza, Subway, and Carl’s Jr.

DENSELY POPULATED AREA WITH AFFLUENT DEMOGRAPHICS
» 209,320 residents with an average household income of $103,137 within a fivemile radius of the property
» Near Folsom Lake and Folsom Lake State Recreation Area, visited by approximately two million people each year
» Excellent location in commuter corridor, with close proximity to several highdensity single-family developments

EXCELLENT LOCATION NEAR PROMINENT RETAIL CENTERS
» Near Folsom Premium Outlets, the only outlet mall in the Sacramento metro area
» Traffic count is over 50,000 vehicles per day, providing excellent visibility and access

Click Here to Download Offering Memorandum


Property Description

The property enjoys an excellent location at the high-traffic intersection of Madison Avenue and Greenback Lane. The area is a busy commuter corridor, and both Madison Avenue and Greenback Lane are major arterials, boasting a traffic count of 54,132 vehicles per day at the signalized intersection. The property anchors American River Plaza, a community shopping center with nearly 115,000 square feet of retail space and major national tenants, including Ace Hardware, Starbucks, Sport Clips, Round Table Pizza, Subway, and Carl’s Jr. Several prominent retail centers are located near the property, including Sunrise Mall, one of the Sacramento area’s largest and most successful enclosed super regional shopping centers. Folsom Premium Outlets, the only outlet mall in the Sacramento metropolitan area, is also located near the property. Other notable retailers near the property include CVS, 99 Cents Only Stores, NAPA Auto Parts, Dairy Queen, and Les Schwab Tire Center.

The property is located in a densely populated area with excellent demographics and a strong daytime population. The property is located near several high-density single-family developments, with a population of 209,320 residents with an average household income of $103,137 within a five-mile radius. Additionally, the property is located near Folsom Lake and Folsom Lake State Recreation Area. Folsom Lake is one of the most popular lakes in Northern California, and Folsom Lake State Recreation Area is visited by approximately two million people each year.

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