Former Rite Aid Prime
For Sale
Contact for pricing
Pending
520 W Lodi Ave, Lodi, CA 95240
Former Rite Aid in a Class A commercial neighborhood.
Property Size28,456 SF
Days on Market1161
Property Features for 520 W Lodi Ave
General Information
Standard status
Pending
Size
28,456 SF
Class
A
Property subtype
Retail
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Renovated
2015
Buildings
1
Stories
1
Listing Agency:
Multi Family Purchases LLC
Listed By:
Sandeep Gupta · License #CA BRE 01984344
Source:
Crexi
Added: Jun 27, 2023
Changed: Aug 8
Last Checked: Jul 24 at 2:51PM
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 Multi Family Purchases LLC
Investment Insights
Based on property information with market context.
This is a former Rite Aid location, which operated for over 35 years, and has been vacant since 08/01/25. The property is situated in a Class A commercial neighborhood within a shopping mall, adjacent to a Savemart grocery store and various restaurants, including Subway, Taco Bell, Domino's Pizza, Yafa Hummus Mediterranean restaurant, Sherman's Buffet, Tony's Pizzeria, and The Avenue Grill. Nearby shops include 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. It is offered for sale to an owner-user or investor. Interested tenants can lease the space on an NNN basis.
Key Highlights
- Class A location in a busy shopping mall next to Savemart and multiple restaurants and shops.
- Lowest price per square foot for Class A commercial space at $151/sqft.
- Large 28,456 sqft total space suitable for owner‑user or 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
$322,691
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
7.50%
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%
$6,453,820
$6.5M
Cap Rate 7%
$4,609,871
$4.6M
Cap Rate 9%
$3,585,456
$3.6M
Market Conditions
NOI Build-Up for 28,456 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
$512.2K $18.00/SF
− Vacancy
−$51.2K −$1.80/SF
EGI
$461.0K $16.20/SF
− OpEx
−$138.3K −$4.86/SF
NOI
$322.7K $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%
$6,453,820
Cap Rate 7%
$4,609,871
Cap Rate 9%
$3,585,456
Alternative Uses
Best Use
Specialty Retail
$6.11M
$5.35M – $7.13M
NOI $427,796 @ 7.0% cap · market cap 9.95%
Second Best
Retail
$4.61M
$4.03M – $5.38M
NOI $322,691 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$6.25M
$5.47M – $7.29M
NOI $437,426 @ 7.0% cap · market cap 10.17%
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 Class A commercial neighborhood.
Where is this drug store located?
The property is located at 520 W Lodi Ave 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: Class A location in a busy shopping mall next to Savemart and multiple restaurants and shops.; Lowest price per square foot for Class A commercial space at $151/sqft.; Large 28,456 sqft total space suitable for owner‑user or investor.
