SMART & FINAL EXTRA! | $11,464,158 | 4.75% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Smart & Final Extra a single-tenant property located at 2644 Mount Vernon Avenue, Bakersfield, California 93306.
The subject property is comprised of 29,435 square feet, built-in 2017. The building sits on a large 2.97-acre lot located on Mount Vernon Avenue which oversees 26,141 Vehicles Per Day and just off of California 178 which oversees 58,000 vehicles per day.
Smart & Final Extra operates on a corporate triple-net lease with 10+ years remaining, Landlord is responsible for roof and structure. A roof warranty is still in effect and will expire in 2037. At the end of the initial term, Smart & Final will have four, five-year options to extend. The lease calls for 10% increases in year 11 and each of the four options.
Smart & Final Stores, Inc. Operates as a food retailer in the United States. It operates in two segments, Smart & Final and Smart Foodservice. The company’s stores offer fresh perishables and everyday grocery items, such as produce, meat and deli, dairy and cheese, grocery, and beverage products, as well as paper and packaging, and restaurant equipment and janitorial supplies. It also provides various private label products under the First Street, Sun Harvest, Simply Value, La Romanella, Montecito, Iris, and Ambiance brands. The company sells its products to household and business customers; restaurants; caterers; and various other foodservice businesses, such as food trucks and coffee houses through vendors and suppliers. In June of 2019, Smart & Final went private in a $1.12 Billion dollar buy out by Apollo Global Management LLC. Smart & Final Stores, Inc. was founded in 1871 and is headquartered in Commerce, California.