Building Details

Year Built 1984

Listing Agency: CBRE - Central Valley

Listed By: Steve White · License #CA 01781200 Show Phone

Source: Crexi

Added: Mar 18 Changed: Oct 16 Last Checked: Oct 16 at 8:41AM

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Investment Insights

Based on property information with market context.

The Heritage Professional Center is a freestanding medical building located in close proximity to Dameron Hospital. Originally developed as four separate office condominiums, three units have been physically combined and built-out for an optometry and ophthalmology practice. The existing medical layout includes a large reception/waiting area, 11 wet exam rooms, multiple restrooms, a lab, breakroom, administrative offices, and a procedure room. The improvements are relatively modern and suitable for various medical uses. The fourth unit remains physically separated with autonomous access and could be expanded into, leased, or sold independently. This unit was originally built-out for medical purposes, and previous plans existed to convert it into a surgery center. Currently used as storage, it retains existing walls, plumbing points, and HVAC/electrical infrastructure, making it suitable for medical or professional office uses in the future. The property has a total size of 8494 square feet.

Key Highlights

• Freestanding medical building near Dameron Hospital
• Functional existing medical layout with reception/waiting area and 11 wet exam rooms
• Three units combined, built‑out for optometry and ophthalmology

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$129,824

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,596,480 $2.6M

Cap Rate 7%

$1,854,629 $1.9M

Cap Rate 9%

$1,442,489 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,494 SF

Gross rent

$186.5K $21.96/SF

− Vacancy

−$13.4K −$1.58/SF

EGI

$173.1K $20.38/SF

− OpEx

−$43.3K −$5.09/SF

NOI

$129.8K $15.28/SF

Area

Stockton, CA

Vacancy

7.20%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,596,480

Cap Rate 7%

$1,854,629

Cap Rate 9%

$1,442,489

Alternative Uses

Best Use

Office B

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,824 @ 7.0% cap · market cap 8.98%

Second Best

Healthcare Medical

$1.81M

$1.58M – $2.11M (±1% cap)

NOI $126,472 @ 7.0% cap · market cap 8.75%

Theoretical Best

Office A

$2.30M

$2.01M – $2.68M (±1% cap)

NOI $160,789 @ 7.0% cap · market cap 11.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Veterinary Clinic Electrical Service (Bike/Boat/Book/etc) Store Locksmith Clothing & Fashion Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,546

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 95203, CA

18,064

Population

5,858

Households

3.1

Avg Household Size

34

Median Age

17%

College-Educated

69%

High-School Grad

6.2 sq mi

ZIP Area

2,914

Density / Sq Mi

$64,710

Median Household Income

$32,927

Median Earnings

$1,248

Median Rent

$349,800

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical building near Dameron Hospital with flexible layout.

Where is this medical office space located?

The property is located at 435-445 W Poplar Street Stockton, CA.

What is the asking price?

The asking price for this property is $1,445,000.

What are key features of this property?

This property features: Freestanding medical building near Dameron Hospital; Functional existing medical layout with reception/waiting area and **11 wet exam rooms**; Three units combined, built‑out for optometry and ophthalmology