27315 Bay RdSan Bernardino, CA 92317

Property Details for 27315 Bay Rd

Year built

2024

Lot size

0.98 AC

Property size (Sq ft)

24,000 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents the chance to acquire a fee-simple interest (land and building) in a newly constructed, 24,000-square-foot Grocery Outlet located at 27315 N Bay Rd, Lake Arrowhead, CA 92317. The property sits on a 0.98-acre lot and boasts 79 parking spaces. A brand-new, 10-year lease is in place with Grocery Outlet, Inc., a well-established national chain with a strong credit rating (S&P: B+), featuring five 5-year renewal options. Each option period includes a 10% rent increase, providing built-in protection against inflation and steadily growing net operating income (NOI). The current NOI is $365,000, resulting in a 5.50% cap rate on the $6,636,000 asking price. The lease is an absolute NNN lease, minimizing landlord responsibilities to roof, structure, parking lot, and foundation, making this an ideal low-management investment. The property benefits from a prime location at the intersection of N Bay Rd and CA-189, a high-traffic area with a combined 15,300 vehicles per day (VPD), and enjoys excellent visibility due to significant street frontage and a large pylon sign. The surrounding area features strong national credit tenants, including CVS Pharmacy, McDonald's, 7-Eleven, Shell, and Coach, creating synergistic tenant relationships and increased consumer traffic. The property's proximity to Rim of the World High School (928 students) further enhances its appeal. The 5-mile trade area boasts over 20,000 residents and 6,000 employees, with a one-mile radius exhibiting an average household income exceeding $130,898. The building itself features a state-of-the-art design with high-quality materials and a new 10-year roof warranty. This is a truly exceptional opportunity for a passive investor seeking a stable, high-performing asset with significant long-term growth potential. The property's APN is 0335-031-06-0000. The building was completed in 2024 and has 100% occupancy.

Location Insight

City

San Bernardino

County

San Bernardino

State

California

Latitude

34.2477

Longitude

-117.207

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