380 Cherokee LnLodi, CA 95240
High-yield NNN lease, strong tenant.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 115
Highlights
- Big Lots (NYSE: BIG) is the anchor tenant, a leading discount retailer.
- 20-year absolute NNN lease with corporate guarantee and 2% annual rent increases.
- Strong NOI of $220,218, representing a 6.25% cap rate on the $3,523,491 asking price ($134.75/sq ft).
- Prime retail location with high average household incomes exceeding $86,100 (3-mile radius) and $93,000 (5-mile radius).
- 100% occupancy in a 26,148 sq ft building on a 103,148 sq ft lot; potential for future value-add opportunities.
- Property is free and clear of debt and available for a 1031 exchange.
Property Details for 380 Cherokee Ln
- Property type
- Retail properties, Grocery and convenience stores
- Square Feet
- 26,148 SF
Location Insight
- City
- Lodi
- County
- San Joaquin
- State
- California
- Latitude
- 38.1300012
- Longitude
- -121.258434
Nearby Similar for Sale
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