Former Rite Aid Prime
For Sale
$4,300,000
520 Lodi Avenue, Lodi, CA 95240
Former Rite Aid in a high-traffic commercial neighborhood.
Property Size28,180 SF
Price / SF$152.59
Days on Market327
Property Features for 520 Lodi Avenue
General Information
Standard status
Active
Size
28,180 SF
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Gas Central Forced Air Heat Heating
Parking Area
Building Details
Year Built
1989
Listing Agency:
SANDEEP GUPTA, BROKER
(408) 888-9082
Listed By:
SANDEEP GUPTA · License #01984344
Source:
Corcoran
Added: Sep 17, 2025
Changed: Aug 8
Last Checked: Aug 8 at 1:53PM
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 SANDEEP GUPTA, BROKER
Investment Insights
Based on property information with market context.
This former Rite Aid location, which operated for over 35 years, became vacant on 08/01/25. Situated in a Class A location within a commercial neighborhood, the property is part of a shopping mall adjacent to a Savemart grocery store and various restaurants, including Subway, Taco Bell, Domino's Pizza, Hummus Mediterranean restaurant, and Sky Wok. Additional nearby establishments include Tony's Pizzeria, The Avenue Grill, FedEx, a credit union, Fashion Nails, a polish shop, and T-Mobile. The total space encompasses 28,456 square feet. The roof is 8 years old, with a roof elevation of 20 feet from ground level. The property is offered for sale to owner-users or investors.
Key Highlights
- Prime "Class A" location in a busy shopping mall, adjacent to Savemart and various restaurants and shops.
- Substantial 28,456 sqft of total space, suitable for a variety of uses.
- Offered at $151/SF, the lowest price/SF for Class A, ideal for Owner User/Investor.
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
$319,561
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
7.43%
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%
$6,391,220
$6.4M
Cap Rate 7%
$4,565,157
$4.6M
Cap Rate 9%
$3,550,678
$3.6M
Market Conditions
NOI Build-Up for 28,180 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
$507.2K $18.00/SF
− Vacancy
−$50.7K −$1.80/SF
EGI
$456.5K $16.20/SF
− OpEx
−$137.0K −$4.86/SF
NOI
$319.6K $11.34/SF
Area
San Joaquin County, CA
Vacancy
10.00%
Lease Rate
$18.00 /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%
$6,391,220
Cap Rate 7%
$4,565,157
Cap Rate 9%
$3,550,678
Alternative Uses
Best Use
Specialty Retail
$6.05M
$5.30M – $7.06M
NOI $423,647 @ 7.0% cap · market cap 9.85%
Second Best
Retail
$4.57M
$3.99M – $5.33M
NOI $319,561 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$6.19M
$5.41M – $7.22M
NOI $433,183 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
161k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 30%
Groceries 21%
Home Improvements & Furnishings 8%
Smart & Final
Groceries
23,142 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
15,728 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
14,145 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,279 visits/mo
0.2 miles
Tractor Supply Co.
Home Improvements & Furnishings
12,470 visits/mo
0.1 miles
Demographics for 95240, CA
49,102
Population
17,304
Households
2.8
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
68.2 sq mi
ZIP Area
720
Density / Sq Mi
$76,870
Median Household Income
$38,359
Median Earnings
$1,439
Median Rent
$443,700
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.
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Frequently Asked Questions
What type of property is this?
Drug store - Former Rite Aid in a high-traffic commercial neighborhood.
Where is this drug store located?
The property is located at 520 Lodi Avenue Lodi, CA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Prime "Class A" location in a busy shopping mall, adjacent to Savemart and various restaurants and shops.; Substantial 28,456 sqft of total space, suitable for a variety of uses.; Offered at $151/SF, the lowest price/SF for Class A, ideal for Owner User/Investor.
