Cap Rate: 5.50%
Net Operating Income: $163,356
Square Footage: 10,000
Lot Size: 0.91 AC
Year Built: 2005
This offering is an opportunity to purchase the 100% fee simple interest in land and building occupied by Big 5 Sporting Goods in Los Banos, CA. Big 5 has a recently extended net lease with minimal landlord obligations. The landlord is responsible for roof and structure. The tenant has two, 5 year options and 10% increases at each option.
The building is 10,000 square feet and sits on a 40,000 square foot lot as part of College Plaza Shopping Center on East Pacheco Boulevard. There is ample parking and easy access to restaurants, parks and shopping. Other anchor tenants in the shopping center include Food 4 Less, Sherwin Williams, Taco Bell, In Shape Health Club and other retail shop space. Home Depot, Chili’s, Starbucks, Chilli’s and Pacheco High School are within close proximity.
Los Banos is a city in Merced County, central California. It is located in the San Joaquin Valley, near the junction of State Route 152 and Interstate 5.
The population was 35,972 at the 2010 census, up from 25,869 at the 2000 census. The city is served by Los Banos Municipal Airport for air transport access.