Business for Sale in Delano, CA

  • Price: $5.3M
  • Listing type: For sale
  • Asset type: Business
  • Location: Delano, CA 93215
  • Size: 33,200 SF

Description

KW Commercial is pleased to present for sale the high-performing single-tenant Smart & Final Supermarket located at 1700 High Street in Delano, CA. Smart & Final purchased the property in October of 2013, signed a new 20 Year NNN lease via a sale-leaseback structure in 2014, and completely remodeled the interior and exterior of the store prior to opening for business. The property is leased by Smart & Final Stores LLC on a corporate-guaranteed triple-net lease. This property has served as a grocery store (formerly Save Mart Supermarket) in the Delano community for over 40 years, reflecting the strength and success of this location. The asset offers investors the opportunity to acquire a successful grocery chain on a long-term lease with below-market rent and zero landlord responsibilities. Per Placer.ai, this store ranks 11/251 and is in the 96th percentile of all Smart & Final stores nationwide. The nearest Smart & Final locations are in Bakersfield (~37 miles away) and Porterville (~29 miles away). Smart & Final is the anchor tenant of Delano Village Shopping Center and occupies 33,200 SF of GLA. Additional tenants within the shopping center include Starbucks, O’Reilly Auto Parts, Citizens Business Bank, and AT&T. Delano Village is located just off Highway 99, the major highway connecting Sacramento to Bakersfield. For a Smart & Final store in a shopping center with about nine years left on the lease, the cap rate typically falls between 5.0 and 5.5 percent if the lease is strong and in a prime location. In recent years, similar deals have been around 5.4 to 6.0 percent lf the lease terms are weaker or the market is less ideal, the cap rate could rise above 6 percent. Building SF: 33200 | Land Size: 3.37 Ac | Listing Type: FOR SALE

Market Context

This other in Delano, CA is listed for sale at $5,325,000 across 33,200 SF. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing other assets. It has been on the market for 4 days. Compare it against other other listings for sale in Delano, CA — <a href="/search/sale/other/california/delano">view the full market</a>.

Contact

Explore this market

Similar Business for Sale in Delano, CA