For Sale
$1,100,000

338 Lafayette St Stockton, CA 95203

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Retail property - High-yield NNN lease, strong tenant.
Where is the retail property located?
The property is located at 338 Lafayette St Stockton, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10-Year NNN Lease with 3% Annual Rent Increases; AmeriVet (160+ Locations) NNN Tenant; Low Landlord Responsibilities
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
338 Lafayette St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message