338 Lafayette StStockton, CA 95203

Property Details for 338 Lafayette St

Lot size

0.23 AC

Property size (Sq ft)

7,500 SF

Zone code

C3

Property type

Retail properties

Property subtype

Retail space

APN

149-091-040-000

APU

149091040000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,854,719

  6.5%

  $1,712,048

  7%

  $1,589,759

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,698,542

  Geo Method

  $2,698,542

• Alternative Use

  Use

  Valuation

  Residential

  $1,444,177

  Hospitality

  $1,322,858

  Educational

  $1,100,603

  Medical

  $1,138,454

  Retail

  $1,712,048

Location Insight

City

Stockton

County

San Joaquin

State

California

Latitude

37.9501

Longitude

-121.285

CBSA code

44700

CBSA name

STOCKTON, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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