Grocery Store

Smart & Final Extra

2525 W Florida Ave, Hemet, CA 92545

Listing Price: $6,553,865

Cap Rate
5.10%
Tenant Name
Smart & Final
Years Remaining On Lease
9.8
Guarantor
Corporate Guarantee
Rentable SF
20,803
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.07

Investment Overview

The Boeve Blatt Team of Marcus & Millichap is honored to release a rare and unique single-tenant grocery store offering. The tenant, Smart and Final are a Southern California based Grocery Chain known for its extreme brand loyalty fortified by its nearly one-hundred years of operation history. The lease is desirable, passive, and supported with scheduled rental increases. The tenant has operated in the region for over 30 years, the submarket has little to zero comparable vacancy. The price point coupled with the rent per square foot and price per square foot securely places the offering in a sweet spot of an expansive regional, national, and international buyer pool. The offering is in the dynamic and growing region known as the Inland Empire. The metro contains a population approaching 4.6 million and over the last decade continues to be described as one of the fasted growing metros in the country. The Inland Empire continues to be praised for an outlook of continued growth backed by a solid metrics of defense against economic corrections. Being close to major employment centers in Los Angeles, Orange, San Diego, diverse job market, major universities adding to the employment base, and easy access to major three deep-water ports, four airports, significant rail systems, and extensive freeway buildout - are all attributes that economist and followers of the region point to as critical fundamentals.

Investment Highlights

  • Unique Opportunity to Add a Grocery Anchor to your Real Estate Portfolio | Grocery Stores are Known as a Great First Time Single Tenant Investment
  • Offering Known to Attract Traditional, First Time, and 1031 Exchange Investors
  • Rare Single Tenant Grocery Offering in Southern California
  • Essential Service and Necessity Provider Offering Hedge Against Disruptions in the Market
  • Desirable Price Point with Vast and Diverse Buyer Pool I Passive Lease with Rental Increases
  • Successful and Established Location I Over 30 years of Occupancy in the Region
  • Smart and Final Remodeled and Expanded the Facility to Extra Format in 2015 | Sold by Original Developer - Contact Listing Team for More Details
  • Located at the Epic Center of Retail I Desirable Demographics I Traffic Counts over 38,000 CPD

Exclusively Listed By

  • Kevin Boeve

    Senior Vice President Investments

    (909) 456-3450

    Email Kevin

    License(s): CA: 01247016

    Ontario

  • Kyle P. Blatt

    Associate

    Email Kyle

    License(s): CA: 02017976

    Ontario

Listing Price: $6,553,865

Cap Rate
5.10%
Tenant Name
Smart & Final
Years Remaining On Lease
9.8
Guarantor
Corporate Guarantee
Rentable SF
20,803
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.07

Investment Highlights

  • Unique Opportunity to Add a Grocery Anchor to your Real Estate Portfolio | Grocery Stores are Known as a Great First Time Single Tenant Investment
  • Offering Known to Attract Traditional, First Time, and 1031 Exchange Investors
  • Rare Single Tenant Grocery Offering in Southern California
  • Essential Service and Necessity Provider Offering Hedge Against Disruptions in the Market
  • Desirable Price Point with Vast and Diverse Buyer Pool I Passive Lease with Rental Increases
  • Successful and Established Location I Over 30 years of Occupancy in the Region
  • Smart and Final Remodeled and Expanded the Facility to Extra Format in 2015 | Sold by Original Developer - Contact Listing Team for More Details
  • Located at the Epic Center of Retail I Desirable Demographics I Traffic Counts over 38,000 CPD

Investment Overview

The Boeve Blatt Team of Marcus & Millichap is honored to release a rare and unique single-tenant grocery store offering. The tenant, Smart and Final are a Southern California based Grocery Chain known for its extreme brand loyalty fortified by its nearly one-hundred years of operation history. The lease is desirable, passive, and supported with scheduled rental increases. The tenant has operated in the region for over 30 years, the submarket has little to zero comparable vacancy. The price point coupled with the rent per square foot and price per square foot securely places the offering in a sweet spot of an expansive regional, national, and international buyer pool. The offering is in the dynamic and growing region known as the Inland Empire. The metro contains a population approaching 4.6 million and over the last decade continues to be described as one of the fasted growing metros in the country. The Inland Empire continues to be praised for an outlook of continued growth backed by a solid metrics of defense against economic corrections. Being close to major employment centers in Los Angeles, Orange, San Diego, diverse job market, major universities adding to the employment base, and easy access to major three deep-water ports, four airports, significant rail systems, and extensive freeway buildout - are all attributes that economist and followers of the region point to as critical fundamentals.

Exclusively Listed By

  • Kevin Boeve

    Senior Vice President Investments

    (909) 456-3450

    Email Kevin

    License(s): CA: 01247016

    Ontario

  • Kyle P. Blatt

    Associate

    Email Kyle

    License(s): CA: 02017976

    Ontario

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