The Shoppes @ Merced |Grocery Shadow Anchored 1011 W Olive Ave 85,892 SF 47% Leased Retail Building Merced, CA 95348 $42,403,235 CAD ($493.68 CAD/SF) 6.75% Cap Rate

Kidder Mathews, in partnership with Retail California, as exclusive advisor to Owner is pleased to present The Shoppes at Merced, a newly repositioned ±85,892 SF best-in-class NNN Retail Center shadow anchored by Vallarta Supermarket, Crunch Fitness, Raising Cane's (Proposed) and In N Out (Proposed) and across the street from Target.?
A former Sears Box, the asset recently completed a successful full-scale redevelopment and lease up campaign resulting in a synergistic national and credit tenant line up of Burlington, PetCo, Five Below, ULTA, Carter’s, Tilly’s, Rack Room Shoes, Bed Bath & Body Works, and Mattress Firm.? The newly signed leases (±10.0 WALT) offer highly secured long-term income from a diverse and complimentary tenant roster.? The property boasts a “main & main” location within the heart of Merced’s primary retail corridor at the high traffic (±40,459 VPD) signalized intersection of W Olive Ave & R Street.? The property is immediately adjacent Marketplace at Merced (Merced’s only regional shopping mall which is currently undergoing a major renovation) creating strong foot traffic and cross-shopping from an existing loyal customer base In Downtown Merced.?
NOI: $2,059,401
Property Website: https://shoppesatmerced.?com/
Drone Video: https://www.?youtube.?com/watch?v=VS6B0ygvKiw&feature=youtu.?be