Albertsons - Baker City
1120 Campbell St Baker City , OR 97814

Albertsons - Baker City - Tenant.Property.Details.Spaces.Header.Retail.Sale

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Overview



JLL is pleased to exclusively present an outstanding opportunity to purchase the fee simple interest in a recently leased 48,239 square-foot Albertsons. Albertsons is one of the largest food and drug retailers in the U.S. The Property is located in the northeast corner of Oregon in Baker City and benefits from its proximity to Interstate 84 and the Union Pacific Railroad mainline. Many national brand retailers, such as US Bank, McDonald’s, Pizza Hut, Shell Gas, and Best Western are in close proximity to this location.


The entity on the lease is Safeway, Inc., a wholly owned subsidiary of Albertsons Companies, Inc. The tenant has executed a 20-year Absolute NNN lease through February 2035 with 2% annual rent escalations. This rare investment opportunity provides long term, passive cash flow with no landlord responsibilities.

Investment highlights


  • The 3rd Largest Private Company (Forbes) and 2nd Largest Supermarket Chain In The Nation With $60.5b In Revenue And Over 2,200 Locations
  • Absolute NNN Lease Structure, Offering True Passive Ownership With No Landlord Responsibilities
  • 15+ Years Of Original Lease Term Remaining With 2.0% Annual Rent Increases
  • Rent Is Well Below Market. Most Recent Grocery Lease Comparable In Baker City Was $18.61 PSF Annually Compared To The Subject Lease Rate Of $7.85 PSF
  • Desirable Location: Property Is Located On One Of The Main Commercial Corridors In The Area 
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 1120 Campbell St, Baker City, OR 97814-2220
Land in acres 4.07
Building size 48,239  ft2
Year built 2001
Financial
Price $6,435,000
Cap rate 6.00%
Current NOI $386,134.00
Lease
Tenant's name Albertsons Companies, Incorporated
Lease type NNN
Annual rent $386,134.00
Lease expiration date 02/28/2035
Remaining term 15.3Yrs

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