1700 High St - Supermarket FOR SALE


Delano, CA 93215
$5,557,043 USD
310-766-5205
1700 High St, Delano, CA for Sale
$5,557,043 USD
Supermarket - FOR SALE
1/5
null | 5.75% Cap Rate

1700 High St
Delano, CA 93215


HIGHLIGHTS

  • Approximately 9 Years of Primary Lease Term Remaining
  • Absolute NNN Lease Structure with Zero Landlord Obligations
  • 7.50% Rent Increases Through Primary Term and Options
  • Interior/Exterior of Building Completely Remodeled in 2014
  • Corporate Lease Guarantee

OVERVIEW

The Snyder Carlton Team is pleased to present for sale the high-performing single-tenant Smart & Final Supermarket located at 1700 High Street in Delano, CA. Smart & Final purchased the property in October of 2013, signed a new 20 Year NNN lease via a sale-leaseback structure in 2014, and completely remodeled the interior and exterior of the store prior to opening for business. The property is leased by Smart & Final Stores LLC on a corporate-guaranteed triple-net lease. This property has served as a grocery store (formerly Save Mart Supermarket) in the Delano community for over 40 years, reflecting the strength and success of this location. The asset offers investors the opportunity to acquire a successful grocery chain on a long-term lease with below-market rent and zero landlord responsibilities. Per Placer.ai, this store ranks 11/251 and is in the 96th percentile of all Smart & Final stores nationwide. The nearest Smart & Final locations are in Bakersfield (~37 miles away) and Porterville (~29 miles away). Smart & Final is the anchor tenant of Delano Village Shopping Center and occupies 33,200 SF of GLA. Additional tenants within the shopping center include Starbucks, O’Reilly Auto Parts, Citizens Business Bank, and AT&T. Delano Village is located just off Highway 99, the major highway connecting Sacramento to Bakersfield.

FOR SALE DETAILS

PRICE

$5,557,043 USD

PRICE/SF

$167 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Smart & Final Extra! 9 Year NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Cecil Ave. Btwn. High & Inyo Sts.

LAND ACRES

3.37 AC

LAND SF

146,797 SF

ZONING

GC

APN/PARCEL ID

411-160-03-00-2

ASK ABOUT THIS PROPERTY

Adam FriedlanderColliersMore Info
310-766-5205

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Adam FriedlanderColliersMore Info
310-766-5205

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.