Net-Leased Grocery
For Sale
Contact for pricing
4232 East Main Street, Stockton, CA 95215
Dollar General Market offered as a turnkey net-leased investment with a corporate-guaranteed NN lease.
Property Size16,668 SF
Price / SF$259.48
Days on Market135
Property Features for 4232 East Main Street
General Information
Standard status
Active
Size
16,668 SF
Total Parking Spaces
81
Property subtype
Retail
Zoning
C-C
Occupancy
100%
Lease Type
Net
Investment Type
Net Lease
Net Operating Income
$333,245
Building Details
Year Built
1950
Year Renovated
2011
Buildings
1
Stories
1
Units
81
Tenancy
Multi
Listing Agency:
andersenjung
Listed By:
Monica Chung · License #CA 01079185
(415) 397-1966
Source:
Crexi
Added: Apr 24
Changed: Aug 27
Last Checked: Sep 5 at 7:27AM
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 andersenjung
Investment Insights
Based on property information with market context.
Andersen, Jung & Co. presents a turnkey net-leased Dollar General Market in Stockton, California. The property is structured as a net lease with corporate-guaranteed terms and minimal landlord responsibilities. The offering is also leased to Watermill Express, providing additional rental income within the building.
The asset is positioned on a retail corridor and is described as having convenient access from major roads, supporting visibility to passing traffic.
This presentation is offered as a stable, long-term income investment backed by a corporate-guaranteed net-lease framework.
The asset is positioned on a retail corridor and is described as having convenient access from major roads, supporting visibility to passing traffic.
This presentation is offered as a stable, long-term income investment backed by a corporate-guaranteed net-lease framework.
Key Highlights
- Dollar General Market net‑leased investment in Stockton, CA
- Corporate‑guaranteed NN lease with minimal landlord responsibilities
- Year built 1950
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
$214,442
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
4.96%
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%
$4,288,840
$4.3M
Cap Rate 7%
$3,063,457
$3.1M
Cap Rate 9%
$2,382,689
$2.4M
Market Conditions
NOI Build-Up for 16,668 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
$300.0K $18.00/SF
− Vacancy
−$14.1K −$0.85/SF
EGI
$285.9K $17.15/SF
− OpEx
−$71.5K −$4.29/SF
NOI
$214.4K $12.87/SF
Area
Stockton, CA
Vacancy
4.70%
Lease Rate
$18.00 /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%
$4,288,840
Cap Rate 7%
$3,063,457
Cap Rate 9%
$2,382,689
Alternative Uses
Best Use
Specialty Retail
$3.06M
$2.68M – $3.57M
NOI $214,442 @ 7.0% cap · market cap 4.96%
Second Best
Retail
$2.86M
$2.50M – $3.34M
NOI $200,146 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$4.51M
$3.94M – $5.26M
NOI $315,520 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95215, CA
27,118
Population
7,367
Households
3.7
Avg Household Size
37
Median Age
9%
College-Educated
62%
High-School Grad
92.8 sq mi
ZIP Area
292
Density / Sq Mi
$68,189
Median Household Income
$33,274
Median Earnings
$1,254
Median Rent
$378,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fiet Market Wilston Way — 3143-2501 doctor m.l.k. jr blvd, stockton, ca 95205
- La Superior Mercados — 3310 E Main St, Stockton, CA 95205
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Dollar General Market offered as a turnkey net-leased investment with a corporate-guaranteed NN lease.
Where is this grocery and convenience store located?
The property is located at 4232 East Main Street Stockton, CA.
What is the asking price?
The asking price for this property is $4,325,000.
What are key features of this property?
This property features: Dollar General Market net‑leased investment in Stockton, CA; Corporate‑guaranteed NN lease with minimal landlord responsibilities; Year built 1950
