Grocery Outlet Net-Lease
2338 Patterson Rd Riverbank, CA 95367
New
For Sale
Contact for pricing
Brand-new 2026 Grocery Outlet with a 15-year net lease to Grocery Outlet Inc. in a multi-tenant retail center.
Property Size16,000 SF
Price / SF$472.88
Days on Market4
Property Features for 2338 Patterson Rd
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2026
Listing Agency:
Cushman & Wakefield - Sacramento, California
Listed By:
Ryan Forsyth · License #CA 01716551
Source:
Crexi
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 25 at 2:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Sacramento, California
Investment Insights
Based on property information with market context.
Cushman & Wakefield presents a brand-new 2026 Grocery Outlet location offering a 15-year net lease to Grocery Outlet Inc. (NASDAQ: GO). The property is approximately 16,000 square feet and is positioned as a co-anchor within a multi-tenant retail center.
The site sits at a signalized intersection of Patterson Road and Estelle Avenue, with direct access from State Route 108 and 26,000 average annual daily trips (AADT). The center also benefits from proximity to Riverbank Crossroads shopping center, which attracts over 8 million visitors annually.
The offering includes 10% rental increases every five years under a corporate-backed lease. The seller highlights a starting cap rate of 5.75%, along with a demographic profile including 132,864 residents within five miles and average annual household income of $131,214 within three miles.
The site sits at a signalized intersection of Patterson Road and Estelle Avenue, with direct access from State Route 108 and 26,000 average annual daily trips (AADT). The center also benefits from proximity to Riverbank Crossroads shopping center, which attracts over 8 million visitors annually.
The offering includes 10% rental increases every five years under a corporate-backed lease. The seller highlights a starting cap rate of 5.75%, along with a demographic profile including 132,864 residents within five miles and average annual household income of $131,214 within three miles.
Key Highlights
- Brand‑new 2026 Grocery Outlet with 15‑year net lease to Grocery Outlet Inc.
- 16,000 SF property in a multi‑tenant retail center with Grocery Outlet as a co‑anchor tenant.
- Located at the signalized intersection of Patterson Road and Estelle Avenue with direct access from State Route 108.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $595.2k | $37.20 |
| − Vacancy | −$61.3k | −$3.83 |
| EGI | $533.9k | $33.37 |
| − OpEx | −$160.2k | −$10.01 |
| NOI | $373.7k | $23.36 |
16,000 SF · lease $37.20/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.34M
$4.67M – $6.23M
NOI $373,726 @ 7.0% cap · market cap 4.94%
Second Best
Specialty Retail
$3.55M
$3.10M – $4.14M
NOI $248,314 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $520,566 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
FAQs
What type of property is this?
Grocery and convenience store - Brand-new 2026 Grocery Outlet with a 15-year net lease to Grocery Outlet Inc. in a multi-tenant retail center.
Where is this grocery and convenience store located?
The property is located at 2338 Patterson Rd Riverbank, CA.
What is the asking price?
The asking price for this property is $7,566,000.
What are key features of this property?
This property features: Brand‑new 2026 Grocery Outlet with 15‑year net lease to Grocery Outlet Inc.; 16,000 SF property in a multi‑tenant retail center with Grocery Outlet as a co‑anchor tenant.; Located at the signalized intersection of Patterson Road and Estelle Avenue with direct access from State Route 108.
