Grocery Outlet 2429 NW Highway 101

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant net leased Grocery Outlet in Lincoln City, OR. Grocery Outlet, a publicly traded company (NASDAQ: GO), operates over 460 stores across the country and brings in $3.9 billion in annual revenue. The new long-term corporate lease has 14 years remaining in the primary term with five 5-year option periods. With 8.5% rent increases every 5 years, this asset is a hedge against inflation for years to come. Grocery Outlet is one of only four supermarkets in the city and the only one that specializes in discount groceries, giving the tenant a monopoly in that use category. This location is ranked in the top 35% of all Grocery Outlets in the nation (July 2024 – Credit Intel).
The 14,855 SF building on 0.93-acre parcel is strategically positioned on Oregon Coast Highway which is a main tourism hub. The Oregon Coast sees over 30 million visitors every year and is a top tourist destination of the Pacific Northwest. Nearby retailers include McDonald’s, Starbucks, Taco Bell, Dutch Bros Coffee, Safeway, JOANN, Ace Hardware, Walgreens, Rite Aid and more.
Grocery Outlet relocated to this current location from another location one-mile away that they occupied for 10 years. Tenant’s longevity at its prior location ensures that tenant fully understands the market and made an educated decision to relocate to this superior location with higher traffic and stronger visibility.