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1718 S Main St
Willits, CA 95490
Grocery Outlet - 10% rent increase in 2019 · Retail Property For Sale
PROPERTY FACTS
About 1718 S Main St , Willits, CA 95490
The offering provides an opportunity to acquire a recently renovated Grocery Outlet located in Willits, California. Grocery outlet has a lease for the entire 39,716 SF building. Their current store occupies an estimated 65% of the gross leasable area and Grocery Outlet does have the option to sublease the vacant portion of the space. Given the low effective rent of an estimated $8/SF on the occupied space, the high volume of the store, and no sub-tenant in the first four years of the lease, Grocery Outlet does not seem eager to sublease the space. Grocery outlet has a 14.2% rental increase in October 2019 that will bump the cap rate to 6.32%.
PROPERTY TAXES
| Parcel Number | 007-170-18-00 | Improvements Assessment | $4,376,032 |
| Land Assessment | $1,084,657 | Total Assessment | $5,460,688 |
PROPERTY TAXES
