CAP Rate: 5.50%
Lot Size: 2.72 AC
This is a rare Smart & Final Extra net leased offering in Elk Grove, California. The lease calls for minimal landlord obligations, with the landlord being responsible for the roof and structure.
The tenant has four 5 year options with increases of 10% every five years. The asset is well located on a major commercial thoroughfare with strong traffic counts. The 15-year lease comes with a corporate guarantee.
Elk Grove is a city in Sacramento County, California, located just south of the state capital of Sacramento. It is part of the Sacramento–Arden-Arcade–Roseville Metropolitan Statistical Area. As of 2015, the population of the city was estimated at 167,965. The second-largest city in Sacramento County, Elk Grove was the fastest growing city in the U.S. between July 1, 2004, and July 1, 2005.