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Grocery Outlet, Cloverdale, CA

Grocery Outlet

CA, United States

Price $6,753,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Insurance Utilities, Taxes, and Maintenance, Excluding Roof and Structure
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2017
Building Size 15,756 SF
Lot Size 1.45 Acres (63,175 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Investment Highlights

RARE NET LEASE TO CORPORATE TENANT
» Long-term, 10-year lease with four five-year option periods
» Net 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 280+ locations and $1.9 billion in annual revenue

HIGH BARRIER TO ENTRY IN UNDERSERVED MARKET
» Nearest major grocery competition is a 20-minute drive to the South in Healdsburg or a 30-minute drive to the North in Ukiah
» Per the USDA, most of Cloverdale and Mendocino County to the North is a Food Desert

CLOSE PROXIMITY TO MAJOR TOURIST ATTRACTIONS
» Excellent location in the Wine Country’s most productive region
» Near prominent wineries, including Asti Winery, Francis Ford Coppola Winery, and Clos Du Bois
» Close to River Rock Casino, which features more than 1,150 slot machines and 18 table games
» More than 7.4 million tourists visit Sonoma County each year, spending more than $1.93 billion annually

NEW 2017 CONSTRUCTION
» High-quality construction featuring latest Grocery Outlet store design and concepts
» New building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located just off the intersection of Treadway Drive and South Cloverdale Boulevard, with convenient access to U.S. Route 101, which has a traffic count of 26,000 vehicles per day. The property is directly across from Furber Ranch Plaza, which features a number of prominent retailers, including CVS, McDonald’s, O’Reilly Auto Parts, Super 8, and Subway. Other notable retailers near the property include 7-Eleven, Taco Bell, Starbucks, Ace Hardware, Anytime Fitness, Dollar General, NAPA Auto Parts, and Chevron. The property is centrally located less than two miles from downtown Cloverdale and is near several schools, which have a combined enrollment of nearly 1,500 students. The property is also surrounded by residential neighborhoods, which will be served by Grocery Outlet.

The property is located in the Alexander Valley wine region and is surrounded by wineries and other tourist attractions. Major wineries located near the property include Asti Winery, Sonoma County’s sixth largest winery; Francis Ford Coppola Winery, the 12th largest winery in the U.S.; and Clos Du Bois. The property is also near River Rock Casino, which features more than 1,150 slot machines and 18 table games. Tourism is a major industry in Sonoma County; more than 7.4 million tourists visit Sonoma County each year, spending more than $1.93 billion annually.

Contact Us About This Property

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