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1718 S Main St
Willits, CA 95490

Grocery Outlet - 10% rent increase in 2019 · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Freestanding
Building Size
39,716 SF
Building Class
B
Year Built/Renovated
1991/2014
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
2.77 AC
Zoning
C2
Parking
143 Spaces (3.6 Spaces per 1,000 SF Leased)
Frontage
109 FT on S Main St

About 1718 S Main St , Willits, CA 95490

The offering provides an opportunity to acquire a recently renovated Grocery Outlet located in Willits, California. Grocery outlet has a lease for the entire 39,716 SF building. Their current store occupies an estimated 65% of the gross leasable area and Grocery Outlet does have the option to sublease the vacant portion of the space. Given the low effective rent of an estimated $8/SF on the occupied space, the high volume of the store, and no sub-tenant in the first four years of the lease, Grocery Outlet does not seem eager to sublease the space. Grocery outlet has a 14.2% rental increase in October 2019 that will bump the cap rate to 6.32%.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
007-170-18-00
Land Assessment
$762,104
Improvements Assessment
$3,074,697
Total Assessment
$3,836,801
  • Listing ID: 11613417

  • Date on Market: 2/15/2018

  • Last Updated:

  • Address: 1718 S Main St, Willits, CA 95490

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