2429 Nw Lincoln City, OR 97367
- Retail properties
- 14,855 SF
- 0.96 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2429 Nw
- Lot size
- 0.96 lot acres
- Property size
- 14,855 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 14,855 square foot, single-tenant net-leased Grocery Outlet in Lincoln City, Oregon. Located at 2429 NW U.S. 101, this property boasts a prime location on a major tourism route, benefiting from over 30 million annual visitors to the Oregon Coast. The Grocery Outlet, a publicly traded company (NASDAQ: GO), occupies the entire building on a 0.96-acre lot, with a current lease term extending until August 31, 2038 (13.8 years remaining). The lease includes 8.5% rent increases every five years, providing a hedge against inflation. This specific location is ranked within the top 35% of all Grocery Outlet stores nationwide, demonstrating strong performance. The property offers a 6.00% cap rate and a Net Operating Income (NOI) of $389,944, with an asking price of $6,499,000 ($437.50 per square foot). The property's strategic location near other major retailers, including McDonald's, Starbucks, Safeway, and more, further enhances its value. The tenant's recent relocation to this site from a nearby location after a 10-year tenure underscores their confidence in the property's superior location and high traffic volume. This is a rare opportunity to acquire a high-performing, net-leased asset in a thriving tourist destination with a strong, publicly traded tenant and a long-term lease. The property's APN is 07-11-10-AD-01700-00.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lincoln City
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.008
- Latitude
- 44.983
