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Grocery Outlet Net Lease Investment

2900 Sperry Ave, Patterson, CA 95363

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For Sale

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Grocery Outlet net lease with corporate backing and rental increases.

Type:Retail

Property size:

20,000 SF

Price / SF:

$341/SF

HighLights

15‑year net lease to Grocery Outlet with over 12 years remaining.
Corporate‑backed lease by Grocery Outlet Inc. (NASDAQ: “GO”).
10% rental increases every five (5) years.
Grocery Outlet's market cap exceeds $1.5 billion (as of 2025).
Grocery Outlet plans to open about 30–35 net new stores in 2026.
Property built in 2023.

We can help!

Contact an agent

Ryan Forsyth

For Sale

Contact for pricing

Grocery Outlet net lease with corporate backing and rental increases.

Type:Retail

Property size:

20,000 SF

Price / SF:

$341/SF

Added:: Feb 21, 2026
Days on Market:: 125
Last Refresh:: Mar 17 at 1:16 pm

Property Features for 2900 Sperry Ave

General Information

Standard status: Active
Size: 20,000 SF
Property subtype: Retail

Building Details

Year Built: 2023

We can help!

Contact an agent

Ryan Forsyth

Listing office Cushman & Wakefield - Sacramento, California

Listing date Feb 21, 2026

Source Crexi

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

HighLights

15‑year net lease to Grocery Outlet with over 12 years remaining.
Corporate‑backed lease by Grocery Outlet Inc. (NASDAQ: “GO”).
10% rental increases every five (5) years.
Grocery Outlet's market cap exceeds $1.5 billion (as of 2025).
Grocery Outlet plans to open about 30–35 net new stores in 2026.
Property built in 2023.

Overview

This property features a 15-year net lease with over 12 years remaining to Grocery Outlet, which has over 500 locations nationwide. The lease includes 10% rental increases every five years in the initial term and four option periods. The lease is corporate-backed by Grocery Outlet Inc., a publicly traded company (NASDAQ: “GO”). Grocery Outlet has demonstrated financial stability, with a market cap exceeding $1.5 billion as of 2025. The company narrowed its 2025 net sales outlook to a range of about $4.70B to $4.72B, which represented roughly 5% to 6% year-over-year growth versus fiscal 2024. The company’s updated full-year 2025 outlook raised guidance from 33–35 net new stores to 37 new store openings. Grocery Outlet plans to open about 30–35 net new stores in 2026. The property is suitable for grocery and convenience store, retail, NNN, and specialty property use.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$744.0k	$37.20
− Vacancy	−$76.6k	−$3.83
EGI	$667.4k	$33.37
− OpEx	−$200.2k	−$10.01
NOI	$467.2k	$23.36

20,000 SF · lease $37.20/SF/yr · vacancy 10.30% · expense 30.00%

Alternative Uses

Best Use

Retail

$6.67M

$5.84M – $7.79M (±1% cap)

NOI $467,158 @ 7.0% cap · market cap 6.83%

Second Best

Specialty Retail

$4.43M

$3.88M – $5.17M (±1% cap)

NOI $310,392 @ 7.0% cap · market cap 4.54%

Theoretical Best

Office A

$9.30M

$8.13M – $10.85M (±1% cap)

NOI $650,707 @ 7.0% cap · market cap 9.52%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Grocery and convenience stores

Suggested Use

Similar Places Nearby

Grocery Outlet — 2900 Sperry Ave, Patterson, CA 95363

Location Insight

Map
Local Demand

City: Patterson
County: Stanislaus
State: California
Longitude: -121.168655
Latitude: 37.46431

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What type of property is this?

Grocery and convenience store - Grocery Outlet net lease with corporate backing and rental increases.

Where is this grocery and convenience store located?

The property is located at 2900 Sperry Ave Patterson, CA.

What is the asking price?

The asking price for this property is $6,838,000.

What are key features of this property?

This property features: 15‑year net lease to Grocery Outlet with over 12 years remaining.; Corporate‑backed lease by Grocery Outlet Inc. (NASDAQ: “GO”).; 10% rental increases every five (5) years.