1833 Texas St, Fairfield, CA 94533
64,919 SF | Retail Building | Fairfield, CA 94533 | $9,936,218 ($153/SF) | 5.50% Cap Rate
For Sale
Active
Asking Price $9,936,218
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail
- Square Feet
- 64,919 SF
- Price / Square Foot
- $153
Listing Contacts
- Property Info
Property Overview
This passive income opportunity offers a qualified buyer the chance to invest in a long term, triple net, grocery store in California. Food 4 Less is an industry leading discount supermarket chain with over 100 stores, 90 of which are across California. This location received full renovations and opened for business in 2023. Renovations include a newly striped & resealed parking lot, all new interior improvements, and the tenant is currently installing solar on the roof. Food 4 Less has recently signed an amendment to the lease extending the remaining base term to 20 years.
Home to Travis Air Force Base and situated between San Francisco, Oakland, Napa and Sacramento, Solano County is well-positioned for growth. Interstate 80 traverses the region, and port access is available in Benicia. More than 20 industrial parks are scattered throughout the county, offering lower costs than larger cities nearby. More affordable single-family home prices attract residents to the area, many of whom commute out of the county for employment. Vallejo is the most populated city, followed by Fairfield, each with around 120,000 residents.
Home to Travis Air Force Base and situated between San Francisco, Oakland, Napa and Sacramento, Solano County is well-positioned for growth. Interstate 80 traverses the region, and port access is available in Benicia. More than 20 industrial parks are scattered throughout the county, offering lower costs than larger cities nearby. More affordable single-family home prices attract residents to the area, many of whom commute out of the county for employment. Vallejo is the most populated city, followed by Fairfield, each with around 120,000 residents.
Property Details
- Class
- C
- Year Built/Renovated
- 1997/2023
- Stories
- 1
- Property Subtype
- Drug Store, Freestanding
- Lot Size (sq. ft)
- 206,039 SF
Highlights
- 20 year NNN lease, tenant is responsible for taxes, insurance, maintenance, roof, and CAM’s
- Fully renovated in 2023, including a newly striped & resealed parking lot, all new interior improvements, and the tenant is currently installing solar
- Subject site is well below market rent at $8.42/RSF, average RSF for similar grocers in the Fairfield region range between $12-14/RSF
- Food 4 Less is a leading discount super market chain with over 90 locations across California
- Strategically positioned in a major retail trade area, with high VPD (19k+) passing directly in front of site on N Texas St.
- Location, location, location: Surrounded by densely populated residential communities in the heart of Solano County, CA
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