2429 NwLincoln City, OR 97367

Property Details for 2429 Nw

Lot size

0.96 AC

Property size (Sq ft)

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.

Location Insight

City

Lincoln City

County

Lincoln

State

Oregon

Latitude

44.983

Longitude

-124.008

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