Citibank NNN Retail
For Sale
$2,700,000
2000 Geer Road, Turlock, CA 95382
Commercial building in Turlock is leased to Citibank under an NNN structure with nearly 14 years remaining.
Property Size4,255 SF
Lot Size0.81 Acres
Price / SF$634.55
Days on Market751
Property Features for 2000 Geer Road
General Information
Standard status
Active
Size
4,255 SF
Lot size
0.81 Acres
Property subtype
Office
Amenities
Central Air
3
Commercial
Public.
Building Details
Year Built
1981
Tenancy
Single
Listing Agency:
Century 21 Select Real Estate
6676111
Listed By:
Wilbert Amador
6047691
Source:
Xome
Added: Aug 17, 2024
Changed: Sep 1
Last Checked: Sep 6 at 4:51AM
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 Century 21 Select Real Estate
Investment Insights
Based on property information with market context.
This commercial building totals 4,255 square feet and sits on a 35,309 square foot lot within the city limits of Turlock. The property is currently leased to Citibank.
The offering is described as an NNN lease with nearly 14 years remaining on the current contract. The public remarks also note a strong annual deposits history for this Citibank branch.
No further details were provided on building condition, recent improvements, or specific frontage/access features.
The offering is described as an NNN lease with nearly 14 years remaining on the current contract. The public remarks also note a strong annual deposits history for this Citibank branch.
No further details were provided on building condition, recent improvements, or specific frontage/access features.
Key Highlights
- 4,255 sq ft commercial building on a 35,309 sq ft lot in the city limits of Turlock, CA
- Leased to Citibank under an NNN structure with nearly 14 years remaining on the current contract
- Zoned Commercial
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
$99,388
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
3.68%
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%
$1,987,760
$2.0M
Cap Rate 7%
$1,419,829
$1.4M
Cap Rate 9%
$1,104,311
$1.1M
Market Conditions
NOI Build-Up for 4,255 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
$158.3K $37.20/SF
− Vacancy
−$16.3K −$3.83/SF
EGI
$142.0K $33.37/SF
− OpEx
−$42.6K −$10.01/SF
NOI
$99.4K $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%
$1,987,760
Cap Rate 7%
$1,419,829
Cap Rate 9%
$1,104,311
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.66M
NOI $99,388 @ 7.0% cap · market cap 3.68%
Second Best
Specialty Retail
$943.4K
$825.5K – $1.10M
NOI $66,036 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,438 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Commercial building in Turlock is leased to Citibank under an NNN structure with nearly 14 years remaining.
Where is this bank located?
The property is located at 2000 Geer Road Turlock, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 4,255 sq ft commercial building on a 35,309 sq ft lot in the city limits of Turlock, CA; Leased to Citibank under an NNN structure with nearly 14 years remaining on the current contract; Zoned Commercial
