Freestanding Drug Store with
New
For Sale
$4,000,000
1000 W Monte Vista Ave, Turlock, CA 95382
NN-leased retail property with signalized-corner access, ample parking, and a two-lane customer drive-thru.
Property Size17,272 SF
Lot Size1.62 Acres
Price / SF$231.59
Days on Market1
Property Features for 1000 W Monte Vista Ave
General Information
Standard status
Active
Size
17,272 SF
Total Parking Spaces
40
Lot size
1.62 Acres
Property subtype
Drug Store
Lease Type
NN
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Amenities
Directly across from California State University, Stanislaus (+10,000 students enrolled).
Hard signalized corner on a major thoroughfare.
Excellent visibility and access.
Building Details
Building Size
17,272 SF
Year Built
2008
Buildings
1
Tenancy
Single
Listed By:
Steve Soqui · License #License(s): CA: 01051817
(562) 257-1225
Source:
Marcusmillichap
Added: Sep 20
Last Checked: Sep 20 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Steve Soqui
Investment Insights
Based on property information with market context.
This freestanding drug store was constructed in 2008 and includes a two-lane drive-thru. The property is subject to an NN lease with scheduled 5% rent increases every five years, limiting landlord responsibilities. The site also includes 40 parking spaces on a 1.62-acre parcel.
Located directly across from California State University, Stanislaus, the property benefits from proximity to a campus with enrollment exceeding 10,000 students. It occupies a hard signalized corner along a major thoroughfare, providing direct access and strong exposure. The offering includes the existing Rite Aid operation and associated retail improvements.
Located directly across from California State University, Stanislaus, the property benefits from proximity to a campus with enrollment exceeding 10,000 students. It occupies a hard signalized corner along a major thoroughfare, providing direct access and strong exposure. The offering includes the existing Rite Aid operation and associated retail improvements.
Key Highlights
- Freestanding drug store constructed in 2008
- Two‑lane drive‑thru
- NN lease with 5% rent increases every five years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$268,055
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,361,100
$5.4M
Cap Rate 7%
$3,829,357
$3.8M
Cap Rate 9%
$2,978,389
$3.0M
Market Conditions
NOI Build-Up for 17,272 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$373.1K $21.60/SF
− Vacancy
−$15.7K −$0.91/SF
EGI
$357.4K $20.69/SF
− OpEx
−$89.4K −$5.17/SF
NOI
$268.1K $15.52/SF
Area
Stanislaus County, CA
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,361,100
Cap Rate 7%
$3,829,357
Cap Rate 9%
$2,978,389
Alternative Uses
Best Use
Retail
$5.76M
$5.04M – $6.72M
NOI $403,437 @ 7.0% cap · market cap 10.09%
Second Best
Specialty Retail
$3.83M
$3.35M – $4.47M
NOI $268,055 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$8.03M
$7.02M – $9.37M
NOI $561,951 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95382, CA
38,702
Population
14,167
Households
2.7
Avg Household Size
37
Median Age
33%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
3,551
Density / Sq Mi
$93,592
Median Household Income
$51,258
Median Earnings
$1,790
Median Rent
$483,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Drug store - NN-leased retail property with signalized-corner access, ample parking, and a two-lane customer drive-thru.
Where is this drug store located?
The property is located at 1000 W Monte Vista Ave Turlock, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Freestanding drug store constructed in 2008; Two‑lane drive‑thru; NN lease with 5% rent increases every five years
