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880 Hanson St
Winnemucca, NV 89445
Grocery Outlet · Retail Property For Sale
Investment Highlights
- Long-term corporate net lease with four five-year option periods, providing ideal passive investment for an out-of-area buyer
- Grocery Outlet is the nation’s largest extreme value grocery retailer, with more than 520 locations and over $4 billion in annual revenue
- 10% rental increases every five years, providing a hedge against inflation
- Grocery Outlet plans to open 35 new stores in fiscal 2025
Executive Summary
Long term corporate guaranteed net lease featuring 10 percent rental increases every five years, providing stable income growth. The tenant, Grocery Outlet (NASDAQ: GO), is the nation’s largest extreme value grocery retailer with more than 520 locations and over $4 billion in annual revenue.
The property benefits from a high traffic infill location in downtown Winnemucca with strong visibility and access along Hanson Street, which sees approximately 12,600 vehicles per day. The site also offers immediate access to Interstate 80, the primary corridor connecting Winnemucca to Reno.
The location sits near key community amenities and tourism drivers, including Humboldt General Hospital, the area’s primary health care provider with 67 beds, more than 200 employees, and roughly $88 million in annual patient revenue. It is also less than one mile from Model T Casino, Winnemucca’s most visited attraction.
Additional demand drivers include five nearby schools with a combined enrollment of 2,804 students. The asset was constructed in 2020 and is located in Nevada, an income tax free state
The property benefits from a high traffic infill location in downtown Winnemucca with strong visibility and access along Hanson Street, which sees approximately 12,600 vehicles per day. The site also offers immediate access to Interstate 80, the primary corridor connecting Winnemucca to Reno.
The location sits near key community amenities and tourism drivers, including Humboldt General Hospital, the area’s primary health care provider with 67 beds, more than 200 employees, and roughly $88 million in annual patient revenue. It is also less than one mile from Model T Casino, Winnemucca’s most visited attraction.
Additional demand drivers include five nearby schools with a combined enrollment of 2,804 students. The asset was constructed in 2020 and is located in Nevada, an income tax free state
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,284 SF
Building Class
B
Year Built
2019
Price
$9,417,488 CAD
Price Per SF
$464.28 CAD
Cap Rate
6.75%
NOI
$635,629 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
2.05 AC
Zoning
G-C;GENERA
Frontage
243’ on Weso Street
Property Taxes
| Parcel Number | 16-0251-37 | Improvements Assessment | $1,265,990 CAD |
| Land Assessment | $147,350 CAD | Total Assessment | $1,413,340 CAD |
Property Taxes
Parcel Number
16-0251-37
Land Assessment
$147,350 CAD
Improvements Assessment
$1,265,990 CAD
Total Assessment
$1,413,340 CAD
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