Gerbes is one 28 brands owned and operated by Kroger. Kroger is the largest grocery operator in the country with over 2,800 stores in 35 states. Kroger 2023 annual sale where $150B. Gerbes has operated in this location uninterrupted since it was placed in service in 1971. The center was renovated in 2024 mostly at Gerbes expense. They added a fuel center, made interior & exterior renovations and extended their lease 10 years. Investors will appreciate acquiring this property at a price well below replacement cost while leased long term to a tenant whos’ rent is less than 1% of their gross sales.

$5,035,000, 6% cap in in-place NOI.