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Grocery Outlet, Bishop, CA

Grocery Outlet

Price $8,000,000
Cap Rate 5.25%
NOI $420,000
Lease Term 15 Years
Lease Type NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2019
Building Size ±20,000 SF
Lot Size 1.67 Acres (72,745.2 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
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

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NNN LEASE TO STRONG GROCERY TENANT
» Long-term, 15-year NNN lease with three five-year option periods
» Top-performing store with excellent sales reported
» NNN lease provides ideal passive investment for an out-of-area investor
» 10% 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 40 new stores scheduled to open by the end of 2019

HIGH-TRAFFIC LOCATION AT FOUR-WAY INTERSECTION
» High-traffic location in prominent retail area, with excellent visibility and access to 30,100 vehicles per day
» Hard corner location along U.S. Highway 395, a major north-south thoroughfare connecting Washington, Oregon, Nevada, and California
» Minutes from Bishop Union High School, Home Street Middle School, Bishop Elementary School, and Pine Tree Elementary School, which have an enrollment total of 2,085+ students

CENTRAL LOCATION NEAR COMMUNITY AMENITIES AND TOURIST ATTRACTIONS
» Prime location at the confluence of Yosemite National Park, Sierra National Forest, Death Valley National Park, Inyo National Forest, Mammoth Mountain, and Sequoia National Park (combined 14.6 million annual visitors, $1.4+ billion annual economic impact)
» Within 1.5 miles of 21 hotels and lodges
» Surrounded by a healthy mix of local and regional retailers, as well as several national tenants

NEW 2019 CONSTRUCTION
» High-quality construction completed in 2019
» Features latest Grocery Outlet store design and concepts



Property Description

The property is strategically located at the most heavily trafficked intersection in Bishop, the four-way intersection of U.S. Highway 396/Wye Road and U.S. Highway 6/North Main Street, with excellent visibility and access to 30,100 combined vehicles per day. U.S. Highway 395 is a major north-south thoroughfare connecting Washington, Oregon, Nevada, and California. Located in Bishop’s primary retail area, the property is surrounded by a healthy mix of local and regional retailers, as well as several national tenants, including Kmart, Vons, Starbucks, Taco Bell, McDonald’s, and Rite Aid.

Centrally located in Bishop, the property is close to important community amenities and popular recreational areas. The site resides at the confluence of Yosemite National Park, Sierra National Forest, Death Valley National Park, Inyo National Forest, Mammoth Mountain, and Sequoia National Park. Combined, these attractions draw 14.6 million annual visitors and create $1.4+ billion of annual economic impact. Additionally, the property is surrounded by 21 hotels and lodges within a 1.5-mile radius, which will be served by Grocery Outlet. It is also close to Bishop Union High School, Home Street Middle School, Bishop Elementary School, and Pine Tree Elementary School, which have an enrollment total of 2,085+ students.

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