For Sale
$1,100,000

338 Lafayette StStockton, CA 95203

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity in Stockton, CA, featuring a 7,500 square foot, fully occupied veterinary clinic. This property boasts a strong 10-year NNN lease with AmeriVet, a reputable and expanding veterinary group, commencing July 28, 2022, and expiring July 27, 2032. The lease includes annual rent bumps of 3%, ensuring consistent income growth. The property underwent extensive renovations in 2020, encompassing upgrades to the roof, HVAC, and electrical systems. Located at 338 & 394 E Lafayette St, Stockton, CA 95203, on a 0.23-acre lot, this strategically positioned clinic benefits from high visibility near major freeways and serves a substantial population of 142,955 residents within a 3-mile radius. The property generates a Net Operating Income (NOI) of $127,459, resulting in an attractive cap rate of 11.59%. The asking price is $1,100,000, translating to a price per square foot of $146.67. The lease includes two 5-year renewal options, providing long-term stability and potential for future appreciation. This is a turnkey investment with minimal landlord responsibilities, offering a secure and profitable addition to any portfolio. The property's strong tenant, consistent rent increases, and prime location combine to create a compelling investment opportunity.

Highlights

  • 10-Year NNN Lease with 3% Annual Rent Increases
  • AmeriVet (160+ Locations) NNN Tenant
  • Low Landlord Responsibilities
  • Recently Renovated (Roof, HVAC, Electrical)
  • High-Traffic Location (Crosstown Fwy, 185,106 VPD)
  • Strong Demographics (142,955 Residents within 3 Miles)

Property Details for 338 Lafayette St

Property type
Retail properties, Medical space
Square Feet
7,500 SF
Year Renovated
2020
Lot Size (sq. ft)
10,019 SF

Location Insight

City
Stockton
County
San Joaquin
State
California
Latitude
37.95036211
Longitude
-121.28562713
338 Lafayette St, Stockton, California

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338 Lafayette St
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