338 Main StRipon, CA 95366

Property Details for 338 Main St

Lot size

0.29 AC

Property size (Sq ft)

3,914 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

261-150-520-000

APU

261150520000

Description

This exceptional investment opportunity presents a 1,550-square-foot Starbucks drive-thru located at 338 E Main Street, Ripon, CA. Built in 2018, this property sits on a 0.36-acre lot and boasts a highly desirable location, fronting State Highway 99 with an average daily traffic count exceeding 119,000 vehicles. Easy freeway access ensures high visibility and convenient customer access. The property features a prominent 65-foot pylon sign and ample parking for ten cars. The current tenant, Starbucks, enjoys a strong financial position, with a robust lease in place. This lease includes a ten-year initial term plus four five-year options, each with a 10% rent increase upon exercise. The surrounding area demonstrates affluent demographics, with an average annual household income exceeding $115,000 within a three-mile radius. Furthermore, the property benefits from its proximity to various amenities, including private and public schools, government offices, Mistlin Sports Park, and Spring Creek Golf and Country Club. Ripon's strategic location provides easy access to major California freeways, with the San Francisco Bay Area 80 miles west and Sacramento 60 miles north. Stockton, home to the University of the Pacific, Stockton Metropolitan Airport, and the Port of Stockton, is conveniently located just 10 miles to the north. This property offers a compelling combination of a strong tenant, prime location, and a lucrative lease structure, making it an ideal addition to any investment portfolio. The asking price is $2,870,000.

• CAP approach

  CAP return

  Valuation

  6%

  $967,916

  6.5%

  $893,461

  7%

  $829,642

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,408,279

  Geo Method

  $1,408,279

• Alternative Use

  Use

  Valuation

  Residential

  $753,668

  Hospitality

  $690,356

  Educational

  $574,368

  Medical

  $594,121

  Retail

  $893,461

Location Insight

City

Ripon

County

San Joaquin

State

California

Latitude

37.7391

Longitude

-121.119

CBSA code

44700

CBSA name

STOCKTON, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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