Grocery Outlet Net-Lease
For Sale
Contact for pricing
2338 Patterson Rd, Riverbank, CA 95367
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 Market93
Property Features for 2338 Patterson Rd
General Information
Standard status
Active
Size
16,000 SF
Total Parking Spaces
47
Property subtype
Retail
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$435,000
Site & Location
Traffic Count
26,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
5.75%
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
Cushman & Wakefield - Sacramento, California
Listed By:
Ryan Forsyth · License #CA 01716551
Source:
Crexi
Added: Jul 24
Changed: Oct 19
Last Checked: Oct 23 at 6:08AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$373,726
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,474,520
$7.5M
Cap Rate 7%
$5,338,943
$5.3M
Cap Rate 9%
$4,152,511
$4.2M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$595.2K $37.20/SF
− Vacancy
−$61.3K −$3.83/SF
EGI
$533.9K $33.37/SF
− OpEx
−$160.2K −$10.01/SF
NOI
$373.7K $23.36/SF
Area
Stanislaus County, CA
Vacancy
10.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,474,520
Cap Rate 7%
$5,338,943
Cap Rate 9%
$4,152,511
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
26,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
185k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 38%
McDonald's
Dining
28,319 visits/mo
0.3 miles
Dollar Tree
Shops & Services
27,236 visits/mo
0.1 miles
Dutch Bros. Coffee
Dining
20,247 visits/mo
0.1 miles
Starbucks
Dining
15,219 visits/mo
0.2 miles
Taco Bell
Dining
13,234 visits/mo
0.2 miles
Demographics for 95367, CA
25,421
Population
7,579
Households
3.4
Avg Household Size
34
Median Age
20%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
4,796
Density / Sq Mi
$90,633
Median Household Income
$46,447
Median Earnings
$1,526
Median Rent
$444,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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.
