La-Z-Boy – 5111 Business Center Drive

La-Z-Boy – 5111 Business Center Drive is a single-tenant retail property for sale at 5111 Business Center Dr in Fairfield, CA, in the Fairfield / Green Valley submarket. The 12,000 SF property is 100% occupied, positioning the purchase around an existing tenant relationship.

Built in 1997, the 12,000 SF retail building sits on 1.66 acres. The transaction is structured as a sale-leaseback with an Absolute Net lease, a 10-year term, 10% rent increases every five years and two 5-year options. Northern California Chair Corp., the La-Z-Boy operator, guarantees the lease. Those terms give a buyer a defined income schedule and place responsibility for property expenses, repairs and maintenance, including the roof and structure, with the tenant.

The Property is immediately adjacent to Costco Wholesale at Green Valley Crossing. That relationship places the showroom alongside an established retail draw rather than relying on its frontage alone. The site is near the I-80/I-680 interchange, and the traffic count is 173,947 AADT. Green Valley and nearby Travis Air Force Base add context to the store’s trade area, while downtown Fairfield is 6.8 miles from the Property.

The asking price is $5,538,000, or $462 PSF, with a 6.50% in-place cap rate and $360,000 in-place NOI. For an investor, the purchase pairs current income with scheduled rent increases under a single-tenant lease; the fee simple ownership interest establishes the title held in the Property. The location and lease structure are central to the investment case. Review the Offering Memorandum for the transaction.