Turlock Retail Investment
For Sale
Contact for pricing
1203-1211 W Monte Vista Ave, Turlock, CA
NNN leased retail property with long-term tenants and rent escalations.
Property Size6,501 SF
Lot Size0.84 Acres
Price / SF$578.12
Days on Market822
Property Features for 1203-1211 W Monte Vista Ave
General Information
Standard status
Active
Size
6,501 SF
Lot size
0.84 Acres
Property subtype
RETAIL
Listing Agency:
NorthMarq
(949) 451-1217
Listed By:
Ronnie Givargis
(949) 451-1217
Source:
Moodyscre
Added: May 7, 2024
Changed: Jul 10
Last Checked: Jul 21 at 4:59AM
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 NorthMarq
Investment Insights
Based on property information with market context.
This retail property features an NNN expense structure across all leases, offering investors a stable and passive cash flow. The tenants have scheduled rent increases incorporated into their base terms and options, which may increase investor yield and hedge against inflation. Each tenant has a remaining lease term between 5.3 and 9.6 years, with an additional 10 years in options. The property is located across Crowell Rd from Stanislaus State University, which has a student enrollment of 9,198. The property benefits from its proximity to The Vista student housing project and multiple condo and apartment complexes with over 1,000 units combined. The location benefits from traffic counts of 32,357 vehicles per day. The surrounding area has a population of 94,000 residents within a 5-mile radius, with an average household income of $98,968.
Key Highlights
- Passive NNN lease structure provides stable cash flow.
- Scheduled rent bumps increase yield.
- Long lease terms remaining between 5.3 and 9.6 years, with 10‑year options.
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
$151,850
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
4.04%
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%
$3,037,000
$3.0M
Cap Rate 7%
$2,169,286
$2.2M
Cap Rate 9%
$1,687,222
$1.7M
Market Conditions
NOI Build-Up for 6,501 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
$241.8K $37.20/SF
− Vacancy
−$24.9K −$3.83/SF
EGI
$216.9K $33.37/SF
− OpEx
−$65.1K −$10.01/SF
NOI
$151.8K $23.36/SF
Area
Stanislaus County, CA
Vacancy
10.30%
Lease Rate
$37.20 /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%
$3,037,000
Cap Rate 7%
$2,169,286
Cap Rate 9%
$1,687,222
Alternative Uses
Best Use
Retail
$2.17M
$1.90M – $2.53M
NOI $151,850 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,512 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - NNN leased retail property with long-term tenants and rent escalations.
Where is this strip mall located?
The property is located at 1203-1211 W Monte Vista Ave Turlock, CA.
What is the asking price?
The asking price for this property is $3,758,370.
What are key features of this property?
This property features: Passive NNN lease structure provides stable cash flow.; Scheduled rent bumps increase yield.; Long lease terms remaining between 5.3 and 9.6 years, with 10‑year options.
