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Property profile & analytics
FOR LEASE
Manufacturing properties
1400 Waterloo Rd Stockton, CA 95205
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-2662295
For Lease
1 / 2
$10,065,000
1400 Waterloo Rd, Stockton, CA 95205
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Total area
39,780 SF
Lot
19 ac (827,600 SF)
Zoning code
M1
APN
141-150-020-000
UPID
US10-2662295
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
LB Stone Properties Warehouse & Storage
-
R B Foods Business To Business Service
-
Phoenix Furniture Wholesale Distribution Big Box & Wholesale Store Furniture & Home Goods
-
Mizkan America Food Processing Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.24M
Blend (final)
Blend
$10.07M
Owner & transaction history
Morning Star Merced LLC · 5 yrs held
Morning Star Merced LLC
since 2020
Last sale
$10.0M
7 recorded transactions
Zoning & alternative use
M1 · Stockton, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.3M
+67.4%
Medical building
$9.8M
+45.0%
Office building
$7.3M
+8.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Stockton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Stockton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$11,240,000
ML approach
$9,970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,765,000
Current use
RESTAURANT
$11,325,000
Change: +67% · Conversion: Difficult
MEDICAL BUILDING
$9,815,000
Change: +45% · Conversion: Difficult
OFFICE BUILDING
$7,340,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,165,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,010,000
Change: +4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$6,900,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$10.07M
Range $9.06M – $11.07M · ±10% · vs last sale $10.00M (Jun 5 2020)
Last sale anchor
$10.00M
Jun 5 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$253 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$76,804
Tax year 2024
Assessed value
$5,867,824
Assessed 2024
Previous assessed
$5,867,824
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$2,437,857
Assessed improvement
$3,429,967
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Status
For Lease
Heating
NONE
Stories
1
Total area
39,780 SF
Lot
19 ac (827,600 SF)
Zoning code
M1
APN
141-150-020-000
UPID
US10-2662295
Jurisdiction
SAN JOAQUIN
Zoning & alternative use
M1 · Stockton, CA
Zoning M1 · permitted uses
M1 · Stockton, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Stockton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.8M
RESTAURANT
Est. value
$11.3M
MEDICAL BUILDING
Est. value
$9.8M
OFFICE BUILDING
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.9M
INDUSTRIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
1
Lot
19 ac
Current owner
From public records · entity-resolved
Morning Star Merced LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1661 FEEHANVILLE DR STE 100A, MT PROSPECT, IL 60056-6017
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2020
—
Morning Star Merced LLC
Mizkan America INC
Grant Deed
related
—
Jun 5, 2020
$10,000,000
Morning Star Merced LLC
Mizken America INC
Grant Deed
—
Oct 6, 2016
—
R & B Foods INC
Unilever Manufacturing Us INC
Grant Deed
related
—
Jul 1, 2014
—
R & B Foods INC
Unilever Manufacturing Us INC
Grant Deed
—
Oct 3, 2011
—
Unilever Manufacturing Us INC
Conopco INC
Grant Deed
—
Dec 15, 2005
—
Unilever Supply Chain INC
Conopco INC
Grant Deed
—
Oct 19, 2005
—
Conopco INC
Tomstock Properties Corp
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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