W. 9TH AVENUE
SAVE-A-LOT
607
SAVE-A-LOT SUPERMARKET
W. 9TH AVENUE
607 W. 9th Avenue
±14,016 SF RETAIL SUPERMARKET FOR SALE EXCELLENT SAN DIEGO 1031 PROPERTY t
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KIPP GSTETTENBAUER, CCIM RYAN KING Senior Vice President 858.458.3345 [email protected] Lic No. 01405420
Vice President 858.458.3322 [email protected] Lic No. 01885401
CURT ALLEN
Senior Associate 858.458.3365 [email protected] Lic No. 01959536
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Property Features: »» Address: 607 W. 9th Avenue, Escondido, CA 92025 »» ±14,016 SF retail supermarket for sale »» Lot Area: ±27,878 SF »» Easy access to I-15 and Highway 78 »» Close proximity to Centre Avenue and Escondido Transit Centre »» Located on a highly visible corner on West 9th Avenue »» Over $1,000,000 of improvements between Lessor and Lessee to the building »» Limited competition of Grocery Market catering to the neigborhood and lack of space for entry of another market »» Excellent Demographics »» High traffic counts »» Zoning: Commercial »» APN: 236-032-05-00 »» Built in 1953, newly renovated in 2016
Pricing: Cap Rate: 4.25% NOI: $175,000
SAVE-A-LOT
Sale Price: $4,150,000
Tenant Overview - Save-A-Lot »» Save-A-Lot stores bring discount groceries to neighborhoods across the U.S »» Parent Company: SuperValu »» Corporate Headquarters: Earth City, Missouri »» Locations: 1,300 stores across 36 states »» Annual Sales: $4 billion annually »» Incorporated in 1977, as an alternative to larger supermarkets »» Serves more than 5 million shoppers each week »» Offers savings on exclusive Save-A-Lot brands along with national brands »» Save-A-Lot Vision: “We help our customers to live richer, fuller lives by saving money and time. The time-saving set-up of Save-A-Lot stores, combined with high-quality discount groceries, allows us to offer great food at great prices from great people every day.”
607
W. 9TH AVENUE Rent Schedule/Lease Overview
Lease OVerview
Term
Net Operating Income
Cap Rate
»»Double Net (NN)
Years 1-10
$175,000.00
4.22%
- Tenant covers property taxes and insurance. Landlord is responsible for the roof and structure (which has warranties in place per the below).
Option 1 (11-15)
$192,500.00
4.64%
Option 2 (16-20)
$211,750.00
5.10%
Option 3 (21-25)
$232,925.00
5.61%
Option 4 (26-30)
$256,218.00
6.17%
Option 5 (31-35)
$281,839.00
6.80%
- Brand New Building Reposition: New HVAC Units, New Electrical Service, New Sprinkler System, New Roof with ten (10) Year Warranty, New Facade, New Landscaping, and Newly Renovated Parking Lot (Newly renovated in the 3rd quarter of 2016 with ten (10) & thirty (30) year warranties in place)
»»Term: - Fixed rate for first ten (10) year term
»»Options: - Five (5) year options with 10% increases every five (5) years
607
W. 9TH AVENUE Site plan WEST 9TH AVENUE
SOUTH QUINCE STREET
BUILDING
New Transformer Pad (No Parking)
607
W. 9TH AVENUE Sales Comparables 5 AVERAGE CAP RATE: 4.14%
4
3
2
1
0
Tenant:
Save-A-Lot
Tenant:
Wells Fargo
Tenant:
7-Eleven
Tenant:
McDonalds
Tenant:
Comerica Bank
Tenant:
Jack in the Box
Price:
4,150,000
Price:
$1,900,000
Price:
$2,159,091
Price:
$2,860,000
Price:
$3,500,000
Price:
$2,850,000
Cap Rate:
4.25%
Cap Rate:
3.84%
Cap Rate:
4.40%
Cap Rate:
4.20%
Cap Rate:
4.00%
Cap Rate:
4.17%
Price/SF:
$296.09
Price/SF:
$308.39
$/SF:
$539.77
$/SF:
$814.81
$/SF:
$1,051.37
$/SF:
$1,140.46
Year Built:
1953
Year Built:
1973
2012
Year Built:
2010
Year Built:
2011
Subject Property 607 W. 9th Ave
145 N. Escondido Blvd Escondido, CA 92025
Year Built:
2014
620 N. Ash St Escondido, CA 92027
Year Buit:
2959 S. Alpine Blvd Alpine, CA 91901
625 S. Melrose Dr Vista, CA 92081
1900 Mission Ave Oceanside, CA 92054
607
W. 9TH AVENUE Demographics
QUICK STATS 5 Mile Radius (2015)
Demographics 1 Mile
3 Miles
5 Miles
Population (2015)
21,756
128,921
203,770
Projected Population (2020)
22,585
135,782
215,045
Average Household Size
3.30
3.10
3.00
Median Household Income
$43,517
$46,800
$53,836
Average Age
33.20
35.20
36.70
Median Home Value
$332,491
$347,592
$373,391
Traffic Counts
203,770 Residents
71% are over the age of 25
ADT
W. 9th Avenue
S. Redwood Street
±18,537
W. 9th Avenue
S. Pine Street
±15,948
S. Quince Street
W. 7th Avenue
±5,200
S. Centre City Parkway
W. 13th Avenue
±29,468
W. 9th Avenue
S. Orange Street
±15,396
$
67,124
$53,836
Households
Median Household Income
$373,391
48.5%
Median Home Value
College Educated
607
W. 9TH AVENUE Retail Aerial Palomar Community College
15 78
Orange Glen High School Kaiser Permanente
Palomar Medical Center
SITE
5
15
San Diego San Diego’s many amenities are the source of its attraction for visitors but residents get to enjoy them every day, including the World Famous San Diego Zoo, Safari Park, SeaWorld, Legoland, and Balboa Park. Nature gave us miles of beaches, mild weather, and natural beauty, but our people have created a wide variety of cultural, arts, and entertainment choices for all ages and interests. You can enjoy concerts, theatre both inside and outside, art festivals, and art walks year-round. Dinner on the harbor or brunch on the beach will likely feature locally sourced ingredients from one of San Diego’s many small farms. The growing local craft beer industry is winning awards and attracting attention from national media as well.
Escondido Escondido is located in the heart of Northern San Diego County. Although Escondido means “Hidden” there are many attractions, restaurants, winieries, etc. to experience in this city. Escondido is home to Stone Brewing World Bistro and Gardens, San Diego Safari Park, San Diego Archaeological Center, California Center for the Arts, Queen Califia’s Magical Circle, and more. Escondido is well know for its exquisite wineries and craft beer culture, and holds many annual wine tasting and beer tasting events. The area is also known for its hiking trail on Palomar Mountain, three lakes to enjoy fishing, downtown shopping, and casinos.
SAVE-A-LOT
607
SAVE-A-LOT SUPERMARKET
W. 9TH AVENUE
607 W. 9th Avenue
±14,016 SF RETAIL SUPERMARKET FOR SALE EXCELLENT SAN DIEGO 1031 PROPERTY t
ee
inc
u .Q
S
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h 9t W. e Av e nu
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KIPP GSTETTENBAUER, CCIM RYAN KING Senior Vice President 858.458.3345 [email protected] Lic No. 01405420
Vice President 858.458.3322 [email protected] Lic No. 01885401
CURT ALLEN
Senior Associate 858.458.3365 [email protected] Lic No. 01959536
t
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607
SAVE-A-LOT SUPERMARKET
W. 9TH AVENUE
607 W. 9th Avenue
±14,016 SF RETAIL SUPERMARKET FOR SALE EXCELLENT SAN DIEGO 1031 PROPERTY t
ee
inc
u .Q
S
tr eS
h 9t W. e Av e nu
oo
S.
KIPP GSTETTENBAUER, CCIM RYAN KING Senior Vice President 858.458.3345 [email protected] Lic No. 01405420
Vice President 858.458.3322 [email protected] Lic No. 01885401
CURT ALLEN
Senior Associate 858.458.3365 [email protected] Lic No. 01959536
t
ee
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R
w ed
S.
Re
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607
W. 9TH AVENUE
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9 W.
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Property Features: »» Address: 607 W. 9th Avenue, Escondido, CA 92025 »» ±14,016 SF retail supermarket for sale »» Lot Area: ±27,878 SF »» Easy access to I-15 and Highway 78 »» Close proximity to Centre Avenue and Escondido Transit Centre »» Located on a highly visible corner on West 9th Avenue »» Over $1,000,000 of improvements between Lessor and Lessee to the building »» Limited competition of Grocery Market catering to the neigborhood and lack of space for entry of another market »» Excellent Demographics »» High traffic counts »» Zoning: Commercial »» APN: 236-032-05-00 »» Built in 1953, newly renovated in 2016
Pricing: Cap Rate: 4.25% NOI: $175,000
SAVE-A-LOT
Sale Price: $4,150,000
Tenant Overview - Save-A-Lot »» Save-A-Lot stores bring discount groceries to neighborhoods across the U.S »» Parent Company: SuperValu »» Corporate Headquarters: Earth City, Missouri »» Locations: 1,300 stores across 36 states »» Annual Sales: $4 billion annually »» Incorporated in 1977, as an alternative to larger supermarkets »» Serves more than 5 million shoppers each week »» Offers savings on exclusive Save-A-Lot brands along with national brands »» Save-A-Lot Vision: “We help our customers to live richer, fuller lives by saving money and time. The time-saving set-up of Save-A-Lot stores, combined with high-quality discount groceries, allows us to offer great food at great prices from great people every day.”
607
W. 9TH AVENUE Rent Schedule/Lease Overview
Lease OVerview
Term
Net Operating Income
Cap Rate
»»Double Net (NN)
Years 1-10
$175,000.00
4.22%
- Tenant covers property taxes and insurance. Landlord is responsible for the roof and structure (which has warranties in place per the below).
Option 1 (11-15)
$192,500.00
4.64%
Option 2 (16-20)
$211,750.00
5.10%
Option 3 (21-25)
$232,925.00
5.61%
Option 4 (26-30)
$256,218.00
6.17%
Option 5 (31-35)
$281,839.00
6.80%
- Brand New Building Reposition: New HVAC Units, New Electrical Service, New Sprinkler System, New Roof with ten (10) Year Warranty, New Facade, New Landscaping, and Newly Renovated Parking Lot (Newly renovated in the 3rd quarter of 2016 with ten (10) & thirty (30) year warranties in place)
»»Term: - Fixed rate for first ten (10) year term
»»Options: - Five (5) year options with 10% increases every five (5) years
607
W. 9TH AVENUE Site plan WEST 9TH AVENUE
SOUTH QUINCE STREET
BUILDING
New Transformer Pad (No Parking)
607
W. 9TH AVENUE Sales Comparables 5 AVERAGE CAP RATE: 4.14%
4
3
2
1
0
Tenant:
Save-A-Lot
Tenant:
Wells Fargo
Tenant:
7-Eleven
Tenant:
McDonalds
Tenant:
Comerica Bank
Tenant:
Jack in the Box
Price:
4,150,000
Price:
$1,900,000
Price:
$2,159,091
Price:
$2,860,000
Price:
$3,500,000
Price:
$2,850,000
Cap Rate:
4.25%
Cap Rate:
3.84%
Cap Rate:
4.40%
Cap Rate:
4.20%
Cap Rate:
4.00%
Cap Rate:
4.17%
Price/SF:
$296.09
Price/SF:
$308.39
$/SF:
$539.77
$/SF:
$814.81
$/SF:
$1,051.37
$/SF:
$1,140.46
Year Built:
1953
Year Built:
1973
2012
Year Built:
2010
Year Built:
2011
Subject Property 607 W. 9th Ave
145 N. Escondido Blvd Escondido, CA 92025
Year Built:
2014
620 N. Ash St Escondido, CA 92027
Year Buit:
2959 S. Alpine Blvd Alpine, CA 91901
625 S. Melrose Dr Vista, CA 92081
1900 Mission Ave Oceanside, CA 92054
607
W. 9TH AVENUE Demographics
QUICK STATS 5 Mile Radius (2015)
Demographics 1 Mile
3 Miles
5 Miles
Population (2015)
21,756
128,921
203,770
Projected Population (2020)
22,585
135,782
215,045
Average Household Size
3.30
3.10
3.00
Median Household Income
$43,517
$46,800
$53,836
Average Age
33.20
35.20
36.70
Median Home Value
$332,491
$347,592
$373,391
Traffic Counts
203,770 Residents
71% are over the age of 25
ADT
W. 9th Avenue
S. Redwood Street
±18,537
W. 9th Avenue
S. Pine Street
±15,948
S. Quince Street
W. 7th Avenue
±5,200
S. Centre City Parkway
W. 13th Avenue
±29,468
W. 9th Avenue
S. Orange Street
±15,396
$
67,124
$53,836
Households
Median Household Income
$373,391
48.5%
Median Home Value
College Educated
607
W. 9TH AVENUE Retail Aerial Palomar Community College
15 78
Orange Glen High School Kaiser Permanente
Palomar Medical Center
SITE
5
15
San Diego San Diego’s many amenities are the source of its attraction for visitors but residents get to enjoy them every day, including the World Famous San Diego Zoo, Safari Park, SeaWorld, Legoland, and Balboa Park. Nature gave us miles of beaches, mild weather, and natural beauty, but our people have created a wide variety of cultural, arts, and entertainment choices for all ages and interests. You can enjoy concerts, theatre both inside and outside, art festivals, and art walks year-round. Dinner on the harbor or brunch on the beach will likely feature locally sourced ingredients from one of San Diego’s many small farms. The growing local craft beer industry is winning awards and attracting attention from national media as well.
Escondido Escondido is located in the heart of Northern San Diego County. Although Escondido means “Hidden” there are many attractions, restaurants, winieries, etc. to experience in this city. Escondido is home to Stone Brewing World Bistro and Gardens, San Diego Safari Park, San Diego Archaeological Center, California Center for the Arts, Queen Califia’s Magical Circle, and more. Escondido is well know for its exquisite wineries and craft beer culture, and holds many annual wine tasting and beer tasting events. The area is also known for its hiking trail on Palomar Mountain, three lakes to enjoy fishing, downtown shopping, and casinos.
SAVE-A-LOT
607
SAVE-A-LOT SUPERMARKET
W. 9TH AVENUE
607 W. 9th Avenue
±14,016 SF RETAIL SUPERMARKET FOR SALE EXCELLENT SAN DIEGO 1031 PROPERTY t
ee
inc
u .Q
S
tr eS
h 9t W. e Av e nu
oo
S.
KIPP GSTETTENBAUER, CCIM RYAN KING Senior Vice President 858.458.3345 [email protected] Lic No. 01405420
Vice President 858.458.3322 [email protected] Lic No. 01885401
CURT ALLEN
Senior Associate 858.458.3365 [email protected] Lic No. 01959536
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