Oakland, CA - Grocery Outlet

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding, corporate guaranteed (NASDAQ: GO) Grocery Outlet investment property located in Oakland, California (San Francisco MSA). The tenant, Grocery Outlet Inc., recently signed a new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Grocery Outlet is a high-growth, value retailer operating more than 540 independently operated stores across 16 states, including its corporate headquarters in Emeryville, California, less than five miles from the subject property. The subject property is expected to open on 10/15/2026.

The subject property is located at the highly visible corner of E. 18th Street and 3rd Avenue (combined 24,700 VPD) in Oakland’s Eastlake neighborhood, near the southeastern shore of Lake Merritt. E. 18th Street is a primary east-west commercial thoroughfare connecting East Oakland to the Lake Merritt district, and benefits from walking-distance access to the Lake Merritt BART Station (200K+ weekly passengers), served by three BART lines providing direct connectivity to downtown San Francisco, Berkeley, Fremont, and the broader Bay Area. Nearby demand drivers include Laney College, one of the largest community colleges in the East Bay with approximately 17,000 students, and Lake Merritt, a 155-acre urban lake and regional recreational destination that attracts more than 2 million visitors annually. The surrounding area is also experiencing continued investment, including the Lake Merritt BART Transit-Oriented Development, which includes over 600 residences currently under construction, approximately 500,000 SF of office space, and new ground-floor retail and public spaces. The immediate area receives significant consumer traffic via I-880 (198K VPD) and I-580 (160K VPD), serving commuters throughout the East Bay and San Francisco. The 5-mile trade area is supported by a population of 553,000 residents and 269,900 employees with an average household income of $173,434.

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