Grocery Outlet

2429 Northwest U.S. 101, Lincoln City, OR

$7,090,000

Price

5.5%

Cap Rate

$389,944

NOI

Gallery
Street
Map
Overview
Cap Rate
5.5%
NOI
$389,944
Building Size
14,855 sqft
Lot Area
0.96 sqft
Occupancy
100%
Lease Type
Single Net
Year Built
1961
Year Last Renovated
2
Description

This Grocery Outlet recently relocated from another site within Lincoln City, OR, and underwent extensive renovations in 2023. It features a 15-year net lease with five, 5-year options and 8.5% increases every 5 years. The subject property is located adjacent to a strip center along the iconic, extensively traveled Pacific Coast Highway (21K VPD) in a high demand retail corridor surrounded by dense housing.

Highlights
  • This Grocery Outlet was renovated in 2023 and features a 15-year net lease and five, 5-year options
  • Grocery Outlet relocated to this site from another Lincoln City location
  • 8.5% rental increases every 5 years throughout the primary term and options to combat inflation
  • Adjacent to a strip center featuring Papa Murphy’s, H&R Block, and other regional tenants
  • Located in high demand retail corridor and surrounded by dense housing, hotels, and tourist attractions
Documents
Location
Gallery