2150 Alpine Ave Stockton, CA 95204-2853
- Grocery and convenience stores
- 21,539 SF
- 1.20 lot acres
Sep 12, 2022
Current Use by Public Records
- CFLN Payroll / Accounting Firm
- Dollar General Market / Grocery & Convenience Store / Food Market
- Western Union / Bank / Credit Union
Property Details for 2150 Alpine Ave
- Year built
- 1954
- Lot size
- 1.20 lot acres
- Property size
- 21,539 SF
- Zone code
- 71
- Property type
- Grocery and convenience stores
- APN
- 111-100-010-000
- APU
- 111100010000
Description
This exceptional investment opportunity presents a freestanding Dollar General Market in Stockton, CA, boasting 21,304 square feet on a prominent corner lot (1.2 acres). The property, built in 2012 and renovated in 2012, enjoys a triple-net (NNN) lease structure with Dollar General, a tenant with an investment-grade credit rating ("BBB" with S&P and a positive/stable outlook). The lease commenced September 1, 2012, and expires September 30, 2027, with three 5-year renewal options. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $222,581, representing a 6.50% cap rate. The asking price is $3,424,323 ($160.75 per square foot), significantly below replacement cost. This high-performing location benefits from exceptional visibility and accessibility, receiving 410,000 visits in the last twelve months (per Placer.AI), placing it among the top 1% of Dollar General locations nationwide. The surrounding area demonstrates strong demographics, including over 22,000 people within a 1-mile radius and over 118,000 within 3 miles, with projected population growth of 3.45% within the next 5 years. Furthermore, the property's proximity to I-5 (over 110,000 vehicles per day), the University of the Pacific, San Joaquin Delta College, and downtown Stockton ensures consistent high traffic and customer flow. A new roof, installed in March 2024, comes with a 20-year warranty. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with a strong tenant and significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,580,000
- ML approach
- $2,340,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,673,000
- AI Estimate
- $2,140,000
Market price range: $1.25M - $3.80MMarket price range: $861k - $2.97M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,255,000 Current use
- OFFICE BUILDING
- $3,975,000 Change: +76% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $3,620,000 Change: +61% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $3,150,000 Change: +40% Conversion: Easy
- AUTO REPAIR, GARAGE
- $3,110,000 Change: +38% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $3,025,000 Change: +34% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Stockton
- County
- San Joaquin
- State
- California
- Longitude
- -121.332
- Latitude
- 37.9714
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
