29 March Ln Stockton, CA 95207-5871
- Parking lots & garages
- 0.83 lot acres
Sep 29, 2021
Current Use by Public Records
- Maria Jocelyn G. Gayagoy, BS / Pharmacy
- CSL PLASMA / Blood Donation Center
- Christine Chan / Pharmacy
Property Details for 29 March Ln
- Lot size
- 0.83 lot acres
- Zone code
- C2
- Property type
- Parking lots & garages
- APN
- 102-130-150-000
- APU
- 102130150000
Description
This exceptional investment opportunity presents a 13,903 square foot, single-tenant net-leased retail property located at 29 E March Ln, Stockton, CA 95207. The property, built in 1998 and extensively renovated in 2021, is currently 100% occupied by CSL Plasma, a subsidiary of CSL Behring, under a corporate-guaranteed lease with 11.5 years remaining until the initial term expires on January 1st, 2036. The lease features two 5-year renewal options and includes 10% rent increases every five years throughout the initial term, followed by increases to fair market value at the start of each option period. The current asking price is $5,305,376, representing a 6.25% cap rate and a price per square foot of $381.60. The property boasts a strong NOI of $331,586. Landlord responsibilities are limited to roof, structure, exterior utilities, and parking lot maintenance. The 1.56-acre lot includes 65 parking spaces and is situated on a signalized, hard corner intersection with excellent visibility and high traffic counts (61,900 vehicles daily). The property benefits from its location in a dense retail corridor near major shopping centers and universities, providing a substantial consumer base and strong demographics within a 5-mile radius. The 2021 renovation included a new TPO membrane roof with a 20-year manufacturer's warranty and replacement of all HVAC units. The tenant has invested over $2 million in build-out, minimizing future expense leakage for the investor. The property is zoned GC - General Commercial and features a large monument sign. This is an ideal, low-management investment opportunity with significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,585,000
- ML approach
- $4,185,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Stockton
- County
- San Joaquin
- State
- California
- Longitude
- -121.305
- Latitude
- 37.9971
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
