Corner Mixed-Use
For Sale
$1,100,000
515 W Dr Martin Luther King Jr Blvd, Stockton, CA 95206
Includes commercial improvements, an operating smoke shop, and a residential house.
Property Size10,000 SF
Price / SF$110
Days on Market67
Property Features for 515 W Dr Martin Luther King Jr Blvd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1950
Buildings
3
Listing Agency:
Rosson Real Estate & Property Management
(760) 412-2607
Listed By:
Susan G. Auletti · License #01978517
Source:
Thecentralvalleyhomesearch
Added: Jun 23
Changed: Aug 28
Last Checked: Aug 28 at 12:24PM
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 Rosson Real Estate & Property Management
Investment Insights
Based on property information with market context.
This mixed-use property encompasses 10,000 square feet and was built in 1950. The improvements include a transmission shop, a currently operating smoke shop, and a one-bath residential house. The commercial buildings have new roofs.
The property occupies a corner location at 515 W Dr Martin Luther King Jr Blvd in Stockton, with additional frontage or access associated with Lincoln Street. The smoke shop is operating and paying rent. The property is also identified as being within an Opportunity Zone, and the site includes existing commercial and residential components that may support future redevelopment planning.
The property occupies a corner location at 515 W Dr Martin Luther King Jr Blvd in Stockton, with additional frontage or access associated with Lincoln Street. The smoke shop is operating and paying rent. The property is also identified as being within an Opportunity Zone, and the site includes existing commercial and residential components that may support future redevelopment planning.
Key Highlights
- 10,000‑square‑foot mixed‑use property built in 1950
- Corner location at 515 W Dr Martin Luther King Jr Blvd, Stockton, CA 95206
- Transmission shop and operating smoke shop included
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
$96,075
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
8.73%
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%
$1,921,500
$1.9M
Cap Rate 7%
$1,372,500
$1.4M
Cap Rate 9%
$1,067,500
$1.1M
Market Conditions
NOI Build-Up for 10,000 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
$150.0K $15.00/SF
− Vacancy
−$12.8K −$1.28/SF
EGI
$137.3K $13.73/SF
− OpEx
−$41.2K −$4.12/SF
NOI
$96.1K $9.61/SF
Area
ZIP 95206
Vacancy
8.50%
Lease Rate
$15.00 /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%
$1,921,500
Cap Rate 7%
$1,372,500
Cap Rate 9%
$1,067,500
Alternative Uses
Best Use
Industrial
$1.71M
$1.50M – $2.00M
NOI $119,969 @ 7.0% cap · market cap 10.91%
Second Best
Mixed Use
$1.54M
$1.35M – $1.80M
NOI $108,000 @ 7.0% cap · market cap 9.82%
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,389 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 95206, CA
69,350
Population
18,792
Households
3.7
Avg Household Size
31
Median Age
11%
College-Educated
67%
High-School Grad
133.2 sq mi
ZIP Area
521
Density / Sq Mi
$79,751
Median Household Income
$37,346
Median Earnings
$1,546
Median Rent
$388,500
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes commercial improvements, an operating smoke shop, and a residential house.
Where is this mixed-use property located?
The property is located at 515 W Dr Martin Luther King Jr Blvd Stockton, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10,000‑square‑foot mixed‑use property built in 1950; Corner location at 515 W Dr Martin Luther King Jr Blvd, Stockton, CA 95206; Transmission shop and operating smoke shop included
