Rare SoCal NNN Supermarket- Strong Sales
40,000 SF | Retail Building | Yucca Valley, CA 92284 | $4,370,000 ($109/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,370,000
- Property Type
-
Retail
- Square Feet
- 40,000 SF
- Price / Square Foot
- $109
Listing Contacts
Eric Carlton
Verified Profile
Jereme Snyder
Verified Profile
- Property Info
Property Overview
The Snyder Carlton National Net Lease Team is pleased to offer to qualified investors an opportunity to acquire the net leased Vons grocery store in Yucca Valley, CA. Vons is a subsidiary of Albertsons Companies which operates over 2,200 grocery stores across 34 states, 22 distribution centers and 19 manufacturing plants and brings in over $73 billion in annual revenue. The subject property has over 6.6 lease years remaining on the primary term and benefits from percentage rent.
Vons has anchored the Joshua Village Shopping Center for over 43 years and is strategically positioned along Yucca Valley’s main retail corridor of 29 Palms Hwy which sees over 29,500 VPD. The 40,000 SF in-line building is positioned on 3.03 acres and is surrounded by national retailers including ALDI, Grocery Outlet, State Bros. Markets, Walgreens, Rite Aid, Tractor Supply Co., McDonald’s, Starbucks, Chipotle, Popeyes and more. This is an excellent opportunity to purchase a long-term grocery store asset in Southern California with 15 years in option periods, percentage rent and minimal landlord responsibilities producing years of internet resistant income.
Vons has anchored the Joshua Village Shopping Center for over 43 years and is strategically positioned along Yucca Valley’s main retail corridor of 29 Palms Hwy which sees over 29,500 VPD. The 40,000 SF in-line building is positioned on 3.03 acres and is surrounded by national retailers including ALDI, Grocery Outlet, State Bros. Markets, Walgreens, Rite Aid, Tractor Supply Co., McDonald’s, Starbucks, Chipotle, Popeyes and more. This is an excellent opportunity to purchase a long-term grocery store asset in Southern California with 15 years in option periods, percentage rent and minimal landlord responsibilities producing years of internet resistant income.
Property Details
- Class
- B
- Year Built/Renovated
- 1978/2020
- Stories
- 1
- Property Subtype
- Grocery/Convenience Store, Freestanding
- Lot Size (sq. ft)
- 171,626 SF
Highlights
- Proven Market Location since 1981 (43+ Yrs.) - True Corp. NNN Lease (NYSE: ACI) - $11.35B Market CAP
- Anchor Tenant of Joshua Village Shopping Center - Main Retail Hub Servicing Large MSA/Trade Area
- City is Gateway to Joshua Tree National Forest - Huge Year Round Tourism - Part of Morongo Basin
- One of the Largest Food & Drug Retailers in U.S. - Strong Corporate Guaranty - Part of Albertsons Co.
- Strong Intrinsic Fundamentals - Below Market Rents/Strong Sales History ($690+ PSF) - Percentage Rent
- Excellent Demographics ($81,227 HHI) - Services MSA & another 40K stationed at Twenty 29 Palms Base
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