575 W Base Line St
San Bernardino, CA 92410

Owner-User / Pricing: $1,550,000 / $82 PSF In-Place with Current Lease / Pricing: $2,563,000/ 8.0% Cap / $205,000 NOI / $135 PSF Faris Lee Investments is pleased to present a rare opportunity to acquire the fee simple interest (Land & Building) in a 19,000 square foot, Vacant Former Save-a-Lot Supermarket (the “Property”), located in the heart of San Bernardino, CA. The Subject Property was newly renovated in 2015 with a 10-year roof warranty and approximately $2 million in build-out costs. Following the renovation and store opening in 2015, Save-a-Lot announced in January 2017 that the company would withdraw all store locations in both California and Nevada. The investment is priced well below replacement cost as $82 PSF, giving an investor the ability to create value through multiple avenues including: utilizing the asset as an owner/user, and/or re-tenanting the property with a strong national/regional brand. Furthermore, the asset has flexible zoning (CG-1: Commercial General), which allows for many different uses such as: grocery / supermarket, autoparts, paint, discount store, hardware, daycare, trade school and much more. In addition, an investor can purchase the property with a lease in-place for a price of $2.563 million providing consistent cash flow of $205,000 per year with 7 years to strategize the future use of the asset. The Subject Property is strategically located at the signalized hard corner intersection of W. Base Line Street and N. F Street, which experiences more than 29,700 vehicles per day. The Property features major monument signage along this busy intersection and is within 2 blocks of the on/off ramp for I-215 freeway, which boasts more than 115,000 vehicles per day. This asset benefits from a strong infill trade area with over 159,000 consumers with an average household income in excess of $48,000 and over 57,000 day-time employees within a 3-mile radius. This high growth trade area is projected to grow 1.3% annually or 6.5% over the next 5 years.