OFFERING PRICE:
$3,561,000

CAP RATE (YEAR 1):
6.00%

TOTAL BUILDING AREA:
±7,664 SF

TOTAL LAND AREA:
±85,034 SF
(±1.95 Acres)
FEATURED LISTING:
DEL TACO AND SHOPS
at Merced Marketplace
1790-1798 W. Olive Avenue, Merced, CA
INVESTMENT HIGHLIGHTS
 
▪ Pride of Ownership Asset – Del Taco & Shops presents an opportunity to acquire two high quality street front pad buildings anchored by Lowe’s – a single-tenant NNN ground lease Del Taco and a 5,500 SF multi-tenant pad 100% NNN leased to 3 tenants
 
▪ Established Drive-Thru Del Taco Location – Del Taco has operated at the property since 2005 with stable sales and a low rent-to-sales ratio, proving the viability of this location – the property has a proven history as a fast food drive-thru and the tenant remained open and paying full rent during COVID-19
 
▪ Low Rent Ground Lease Fundamentals – Del Taco is only paying $75,315 annually in ground rent – increasing the probability of long-term occupancy and also providing strong intrinsic real estate fundamentals and an upside opportunity in the future at lease expiration
 
▪ Below Market Rents – Current rents average only $2.54 PSF/MO, approximately 23% below market property-wide, creating attractive embedded value and future rental upside for investors
 
▪ Best of Class Asset – Merced Marketplace is arguably the highest quality retail center in the Merced trade area given its architecture, well-maintained condition with limited deferred maintenance, and national and regional brand tenancy
 
▪ Convenient Location with Tremendous Access – Strategically located along Olive Ave (37,794 cars per day), the major east/west thoroughfare in the trade area
 

 

 
FOR MORE
INFORMATION
PLEASE CONTACT:
 
NRP-WEST
JOHN READ
+1 949 725 8606
Lic. 01359444
[email protected]		 JAMES TYRRELL
+1 949 725 8473
Lic. 02012964
[email protected] 		 TRENT STEEVES
+1 949 725 8563
Lic. 01950466 [email protected]

 



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