Two-Tenant NNN Retail Investment Highway
For Sale
$4,400,000
10299 E Stockton Blvd, Elk Grove, CA 95624
Fully leased two-tenant NNN retail investment with Highway 99 visibility and a 2003 build year.
Property Size13,869 SF
Days on Market43
Property Features for 10299 E Stockton Blvd
General Information
Standard status
Active
Size
13,869 SF
Property subtype
Retail
Occupancy
100%
Building Details
Building Size
13,869 SF
Year Built
2003
Tenancy
Multi
Listing Agency:
Northgate Commercial Real Estate
Listed By:
Xavier Santana · License #01317296
4859989
Source:
Commercialcafe
Added: Jul 28
Changed: Sep 8
Last Checked: Sep 8 at 8:24AM
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 Northgate Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a fully leased two-tenant NNN retail investment. The property is offered as an NNN retail asset and is configured to serve two tenants under a net lease structure. The building was constructed in 2003 and totals 13,869 SF.
A key feature is Highway 99 visibility, supporting retail exposure from the adjacent roadway.
For buyers seeking a stabilized, two-tenant NNN retail product, this offering combines a defined tenant count with highway-facing visibility and a relatively recent construction year of 2003.
A key feature is Highway 99 visibility, supporting retail exposure from the adjacent roadway.
For buyers seeking a stabilized, two-tenant NNN retail product, this offering combines a defined tenant count with highway-facing visibility and a relatively recent construction year of 2003.
Key Highlights
- Fully leased two‑tenant NNN retail investment
- Highway 99 visibility
- 13,869 SF total building size
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
$152,857
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
3.47%
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%
$3,057,140
$3.1M
Cap Rate 7%
$2,183,671
$2.2M
Cap Rate 9%
$1,698,411
$1.7M
Market Conditions
NOI Build-Up for 13,869 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
$236.3K $17.04/SF
− Vacancy
−$18.0K −$1.30/SF
EGI
$218.4K $15.74/SF
− OpEx
−$65.5K −$4.72/SF
NOI
$152.9K $11.02/SF
Area
Elk Grove, CA
Vacancy
7.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$3,057,140
Cap Rate 7%
$2,183,671
Cap Rate 9%
$1,698,411
Alternative Uses
Best Use
Retail
$2.18M
$1.91M – $2.55M
NOI $152,857 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.03M – $4.04M
NOI $242,649 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
U-Haul Moving & Storage of Elk Grove
Shops & Services
3,772 visits/mo
0.2 miles
Carstar Capitol Collision
Shops & Services
926 visits/mo
0.5 miles
Caliber Collision
Shops & Services
920 visits/mo
0.4 miles
Demographics for 95624, CA
66,575
Population
20,740
Households
3.2
Avg Household Size
39
Median Age
33%
College-Educated
89%
High-School Grad
45.6 sq mi
ZIP Area
1,460
Density / Sq Mi
$121,269
Median Household Income
$53,303
Median Earnings
$1,960
Median Rent
$603,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully leased two-tenant NNN retail investment with Highway 99 visibility and a 2003 build year.
Where is this nnn property located?
The property is located at 10299 E Stockton Blvd Elk Grove, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Fully leased two‑tenant NNN retail investment; Highway 99 visibility; 13,869 SF total building size
