380 Cherokee LnLodi, CA 95240

Property Details for 380 Cherokee Ln

Lot size

2.37 AC

Zone code

N

Property type

Other commercial real estate

APN

047-450-300-000

APU

47450300000

Description

This exceptional retail investment opportunity features a 26,148 square foot Big Lots store located at 380 S Cherokee Ln, Lodi, CA 95240. The property sits on a substantial 103,148 square foot lot and is offered fee simple, free and clear of debt. The property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), providing significant long-term security and rental income. The lease includes a favorable 2% annual rent increase, ensuring consistent NOI growth. Currently operating at 100% occupancy, the property generates a strong NOI of $220,218, representing a 6.25% cap rate on the asking price of $3,523,491 ($134.75/sq ft). The property benefits from a prime location within a thriving retail corridor, serving a substantial population with high average household incomes exceeding $86,100 within a three-mile radius and $93,000 within five miles. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval. This offering presents a compelling investment opportunity with strong intrinsic value and potential for long-term appreciation. The property is available for a 1031 exchange.

• Alternative Use

  Use

  Valuation

  Residential

  $19,879,000

  Hospitality

  $18,209,056

  Educational

  $15,149,722

  Medical

  $15,670,744

  Retail

  $23,566,234

Location Insight

City

Lodi

County

San Joaquin

State

California

Latitude

38.13

Longitude

-121.259

CBSA code

44700

CBSA name

STOCKTON, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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