2977 Us-50
South Lake Tahoe, CA 96150

CORE Commercial is pleased to present this freestanding single tenant Holiday Market in Meyers (South Lake Tahoe), CA. This investment is being offered For Sale at a price of $4,000,000 / 5.0% Cap Rate with a proposed fifteen (15) year sale leaseback commencing at the close of escrow. The fifteen (15) year lease back will include a 10% rental increase in year eleven (11) of the primary term of the lease and also at the beginning of each of the 3, 5 year option periods. The in-place rent equates to a very defendable rental rate of $1.19 PSF, NNN. This is a NNN investment with the landlord being responsible for repairs, maintenance and replacement to the roof and structure. South Lake Tahoe attracts approximately 3 million visitors each year looking to enjoy the home of the largest alpine lake in North America. The trade area has very high barriers to entry which will in turn provide for a long term, secure, passive and valuable investment. Holiday Market acquired the subject property from Lira’s Supermarket in April 2018. Lira’s had enjoyed more than seventeen (17) years of successful business at this location prior to being sold to Holiday Market. The subject property is currently undergoing a substantial remodel to update and improve the existing improvements at a cost of over $1,500,000. The property sits immediately adjacent to and shares access with the 18 - hole Tahoe Paradise Golf Course. North State Grocery, Inc operates fifteen (15) Holiday Markets throughout Northern California and Southern Oregon as well as seven (7) Sav-Mor Foods located throughout Northern California. Holiday Market opened its first location in 1962 in Cottonwood, CA where the company still has its headquarters. The company is entirely employee-owned, meaning that the employees have the greatest stake in the success of their business and Holiday Market’s vision is “to give customers the friendliest service while providing the freshest meats and produce available”.