663 Edith Ave, Corning, CA 96021-2343

This exceptional investment opportunity presents a 16,063 square foot Grocery Outlet in Corning, CA, a thriving retail corridor. The property boasts a 14.5-year remaining lease term (commencing December 15, 2023 and expiring December 31, 2038) with a corporate guarantee from Grocery Outlet, a publicly traded company (NASDAQ: GO). The net lease structure (NN+) provides a stable income stream with a current NOI of $389,000 and a 5.50% cap rate. The asking price is $7,073,000. Built in 2023, the property benefits from built-in rent bumps. Its prime location near a signalized intersection on Edith Avenue offers easy access to Interstate 5 (31,500 AADT), maximizing exposure to significant commuter traffic. Synergistic adjacency to a new Dutch Bros drive-thru further enhances its appeal. The property is surrounded by other established national and regional retailers, including Safeway, Burger King, Taco Bell, Subway, and Dollar Tree, creating a dense retail environment. A substantial customer base of 43,020 residents resides within a 15-mile radius. This property is ideal for a 1031 exchange.