590 Solano St
Corning, CA 96021

CORE Commercial is pleased to present this new construction SavMor Foods for sale in the city of Corning, CA. This offering presents the opportunity to acquire a long term (20 year lease) and passive income investment at an asking price of $7,360,000 / 6.0%. The lease calls for attractive 1.25% annual increases, which will provide an investor with almost immediate rental growth. The lease is guaranteed by North State Grocery, Inc which operates seven (7) SavMor Foods and fifteen (15) Holiday Markets throughout Northern CA and Southern OR. The subject property opened for business in September 2019 and replaced an existing and established SavMor Foods that previously operated at this same location. The new SavMor store was built to satisfy the growing demands of the local community. Consisting of approximately 32,000 SF and situated on 2.6 acres, the new footprint is more than double the size of the original SavMor location. North State Grocery has been successfully operating in Corning since 1989, when it originally opened as a Holiday Market. In 2005 North State Grocery relocated to its current location and re-branded as SavMor Foods. The location had previously been owned and operated by Nu-Way Market. All told, this location has served as a grocery store for approximately 50 years, a testament to the strength and necessity of the location. The property is well parked with 118 spaces and has excellent visibility and access from Solano Street, which is the main thoroughfare in Corning. North State Grocery, Inc is a 100% employee owned company and was established in 1989, translating into 30 years of successful business operation. The SavMor Foods brand was established in 1999 in Quincy, CA as a price impact store to better serve families in specific areas. In addition to competitive pricing, the company strives to sell the freshest products available while providing the friendliest and cleanest shopping environments possible.