Shops to Stater Bros (Pigeon Pass Plaza)

Asking Price: $11,630,000

NOI: $778,583

Cap Rate: 6.50% (Year 1) / 9.90% (Year 5)

Pigeon Pass Plaza

Shops to Top Performing Stater Bros Anchored Shopping Center

Value-Add NNN Retail Shopping Center / 92% Leased / Below Market Rents / 10.44% CAGR

• Multi-tenant NNN retail shopping center anchored by successful Stater Bros Grocer (NAP) - The Stater Bros at this location is ranked in the top 11% of all Stater Bros nationwide (per Placer.ai), bringing over 1.3M customers to this location annually

• Long Term value-add property - The tenants have strong scheduled annual rental increases and most have FMV options with below market rents, allowing for stable and consistent growth

• Current rents are approximately 30% below market rates

• Approximately 340 bps cap rate growth through the next 5 years

• 52% NOI growth over 5 years / 10.44% CAGR

• Situated directly next door to Stater Bros Grocery Store - Creating top tier customer draw and strong tenant synergy

• The Subject Property features daily needs and e-commerce tenants, making this an ideal/safe 1031 replacement for an investor

• Busy location at signalized, hard corner intersection of Ironwood Avenue and Pigeon Pass Road - Over 43,867 vehicles per day at the intersection

• Outstanding freeway access - The Subject Property is located within a quarter mile from the on-ramps and off-ramps for the 60 Freeway and Pigeon Pass Road.

• Strong demographics - There are over 236,000 permanent residents living within a 5-mile radius, with an average household income in excess of $91,525.

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