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Grocery Outlet 2429 NW Highway 101

14,855 SF Retail Building Lincoln City, OR 97367 $6,499,000 ($437/SF) 6% Cap Rate

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Investment Highlights

Strategic Relocation Store – Tenant recently relocated from 1-mile away after 10 years at previous location
Top Performing Store in the Country - Ranked in Top 35% in the Chain Nationally
Publicly Traded (NASDAQ: GO) - $3.9 Billion in Annual Revenue

Only Discount Grocery Store Located in Lincoln City
STNL Grocery Store – Grocery Outlet – Lincoln City, OR
New Long-Term Lease – 15 Year Corporate Lease - 14 Years Remaining

Executive Summary

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant net leased Grocery Outlet in Lincoln City, OR. Grocery Outlet, a publicly traded company (NASDAQ: GO), operates over 460 stores across the country and brings in $3.9 billion in annual revenue. The new long-term corporate lease has 14 years remaining in the primary term with five 5-year option periods. With 8.5% rent increases every 5 years, this asset is a hedge against inflation for years to come. Grocery Outlet is one of only four supermarkets in the city and the only one that specializes in discount groceries, giving the tenant a monopoly in that use category. This location is ranked in the top 35% of all Grocery Outlets in the nation (July 2024 – Credit Intel).
The 14,855 SF building on 0.93-acre parcel is strategically positioned on Oregon Coast Highway which is a main tourism hub. The Oregon Coast sees over 30 million visitors every year and is a top tourist destination of the Pacific Northwest. Nearby retailers include McDonald’s, Starbucks, Taco Bell, Dutch Bros Coffee, Safeway, JOANN, Ace Hardware, Walgreens, Rite Aid and more.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Supermarket

Building Size

14,855 SF

Building Class

Year Built/Renovated

1961/2023

Price

$6,499,000

Price Per SF

$437

Cap Rate

NOI

$389,940

Tenancy

Single

Building Height

1 Story

Building FAR

0.36

Lot Size

0.96 AC

Opportunity Zone

Yes

Zoning

G-C - Commercial, General

Parking

43 Spaces (2.89 Spaces per 1,000 SF Leased)

Frontage

230 FT on Northwest U.S. 101

Retailer
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They are a high-growth, extreme value retailer of quality, name-brand consumables and fresh products sold through a network of independently owned and operated stores. Each of their stores offers a fun, treasure hunt shopping experience in an easy-to-navigate, small-box format. An ever-changing assortment of “WOW!” deals, complemented by everyday staple products, generates customer excitement and encourages frequent visits from bargain-minded shoppers. Their flexible buying model allows them to offer quality, name-brand opportunistic products at prices significantly below those of conventional retailers. Entrepreneurial independent owner-operators (IOs) run their stores and generally live in the community that they serve, creating a neighborhood-feel through personalized customer service and a localized product offering.