Retail Property for Sale in Merced, CA
The Shoppes @ Merced
3122-3176 R St & 1015-1023 W Olive Ave, Merced, CA 95348, Merced County
Price
$30,500,000
Listing Information
- Listing Type Retail
- Cap Rate 6.75%
- Water -
- Other Utilities -
- Dock High Doors -
- Doors Grade -
- Condo SF -
Property Information
- Property Type Retail
- Year Built/Reno. 1968 / 1990
- Parcel # 236-220-047-000
- Zoning -
Kidder Mathews, in partnership with Retail California, as exclusive advisor to Owner is pleased to present The Shoppes at Merced, a newly repositioned ±85,892 SF best-in-class NNN Retail Center shadow anchored by Vallarta Supermarket, Crunch Fitness, Raising Cane's (Proposed) and In N Out (Proposed) and across the street from Target. A former Sears Box, the asset recently completed a successful full-scale redevelopment and lease up campaign resulting in a synergistic national and credit tenant line up of Burlington, PetCo, Five Below, ULTA, Carter’s, Tilly’s, Rack Room Shoes, Bed Bath & Body Works, and Mattress Firm. The newly signed leases (±10.0 WALT) offer highly secured long-term income from a diverse and complimentary tenant roster. The property boasts a “main & main” location within the heart of Merced’s primary retail corridor at the high traffic (±40,459 VPD) signalized intersection of W Olive Ave & R Street. The property is immediately adjacent Marketplace at Merced (Merced’s only regional shopping mall which is currently undergoing a major renovation) creating strong foot traffic and cross-shopping from an existing loyal customer base In Downtown Merced. NOI: $2,059,401 Property Website: https://shoppesatmerced.com/ Drone Video: https://www.youtube.com/watch?v=VS6B0ygvKiw&feature=youtu.be