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The Shoppes @ Merced |Grocery Shadow Anchored 1011 W Olive Ave 85,892 SF 47% Leased Retail Building Merced, CA 95348 $42,057,670 CAD ($489.66 CAD/SF) 6.75% Cap Rate
Investment Highlights
- Grocery Shadow Anchored NNN Retail Center
- Highly Secured Long-Term Income Stream with New 10-Year NNN Leases
- Tremendous Underlying Retail Market Fundamentals with Low Vacancy & Scarce Supply
- 100% leased to National / Regional recognized credit tenants
- Irreplaceable “Main & Main” Location in the Heart of Merced’s Retail Corridor
Executive Summary
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
Property Facts
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Bath & Body Works
- -
- -
- -
- -
- Burlington
- -
- -
- -
- -
- Carter's
- -
- -
- -
- -
- Five Below
- -
- -
- -
- -
- Mattress Firm
- -
- -
- -
- -
- Petco
- -
- -
- -
- -
- Tillys
- -
- -
- -
- -
- Ulta
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Bath & Body Works | - | - | - | - | ||
| Burlington | - | - | - | - | ||
| Carter's | - | - | - | - | ||
| Five Below | - | - | - | - | ||
| Mattress Firm | - | - | - | - | ||
| Petco | - | - | - | - | ||
| Tillys | - | - | - | - | ||
| Ulta | - | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 236-220-047 | Improvements Assessment | $3,141,680 CAD |
| Land Assessment | $7,016,880 CAD | Total Assessment | $10,158,560 CAD |
Property Taxes
Presented by
The Shoppes @ Merced |Grocery Shadow Anchored | 1011 W Olive Ave
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