338 Main St Ripon, CA 95366
- Drive through restaurants
- 3,914 SF
- 0.29 lot acres
Current Use by Public Records
- Starbucks / Coffee Store / Espresso Bar
Property Details for 338 Main St
- Lot size
- 0.29 lot acres
- Property size
- 3,914 SF
- Property type
- Drive through restaurants
- APN
- 261-150-520-000
- APU
- 261150520000
Description
This exceptional investment opportunity presents a 1,550-square-foot Starbucks drive-thru located at 338 E Main Street, Ripon, CA. Built in 2018, this property sits on a 0.36-acre lot and boasts a highly desirable location, fronting State Highway 99 with an average daily traffic count exceeding 119,000 vehicles. Easy freeway access ensures high visibility and convenient customer access. The property features a prominent 65-foot pylon sign and ample parking for ten cars. The current tenant, Starbucks, enjoys a strong financial position, with a robust lease in place. This lease includes a ten-year initial term plus four five-year options, each with a 10% rent increase upon exercise. The surrounding area demonstrates affluent demographics, with an average annual household income exceeding $115,000 within a three-mile radius. Furthermore, the property benefits from its proximity to various amenities, including private and public schools, government offices, Mistlin Sports Park, and Spring Creek Golf and Country Club. Ripon's strategic location provides easy access to major California freeways, with the San Francisco Bay Area 80 miles west and Sacramento 60 miles north. Stockton, home to the University of the Pacific, Stockton Metropolitan Airport, and the Port of Stockton, is conveniently located just 10 miles to the north. This property offers a compelling combination of a strong tenant, prime location, and a lucrative lease structure, making it an ideal addition to any investment portfolio. The asking price is $2,870,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,990,000
- 6.5%
- $2,665,000
- 7%
- $3,035,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,870,000
- Geo Method
- $2,385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,385,000
- Retail
- $2,710,000
- Mixed-Use
- $2,235,000
- Hospitality
- $2,770,000
- Educational
- $2,305,000
- Residential Income
- $2,325,000
- Energy
- $2,330,000
- Income-Based Land
- $2,435,000
- Food Service
- $2,730,000
Location Insight
- Map
- Local Demand
- City
- Ripon
- County
- San Joaquin
- State
- California
- Longitude
- -121.119
- Latitude
- 37.7391
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
