San Diego, CA - Red, White & Blue Thrift Store

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, NN leased, Red White & Blue Thrift Store located in San Diego, California. The tenant, Valley Thrift Store, LLC recently signed a 10-year lease with 2 (5-year) options to extend, demonstrating their long-term 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, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. With 30 locations across the U.S., Red White & Blue Thrift Stores are a premier shopping destination offering high-quality, second-hand used items, from top-notch apparel to home furnishings and more.

The asset is strategically located near the signalized, hard corner intersection of Euclid Avenue and Federal Boulevard, supporting more than 37,000 vehicles per day. The subject property also benefits from nearby access to Interstate 805 (260,000 VPD), Highway 94 (149,500 VPD), and Highway 15 (122,000 VPD) making this
an ideal, centralized location with easy commutes. Furthermore, the site is adjacent to San Diego Marketplace, a 70,000+ SF neighborhood center anchored by dd’s Discounts, Dollar Tree, Planet Fitness, and Rent-A-Center, which ranks in the top 90% of strip centers nationwide per Placer.ai. Other nearby national/credit tenants include Costco, The Home Depot, Food4less, Goodwill, and more. Moreover, the site is located less than 4 miles from San Diego State University, a Division I institution supporting a student population of more than 41,000 and nearly 7,000 faculty and staff members. The subject property is positioned approximately 6 miles from San Diego International Airport, which served a record 25.24 million passengers in 2024, making it one of the busiest airports in the region. In addition, the site is ideally located within walking distance from numerous apartment complexes such as Hillside Views (300 units), Harbor Vista (272 units), Las Palmas Villas (110 units), and more, providing a direct residential consumer base from which to draw. The dense, 5-mile subject trade area is supported by more than 651,000 residents and 259,000 daytime employees who boast affluent average household incomes of more than $110,000.

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Listing ID: a28TP000002HkEzYAK