338 Lafayette St Stockton, CA 95203-3534
- Retail space
- 7,500 SF
- 0.23 lot acres
Apr 03, 2025
Current Use by Public Records
- Jubilee Adult Day Program / Adult Day Care Center
- Stockton Farmer’s Market / Market
Property Details for 338 Lafayette St
- Lot size
- 0.23 lot acres
- Property size
- 7,500 SF
- Zone code
- C3
- Property type
- Retail space
- APN
- 149-091-040-000
- APU
- 149091040000
Description
Exceptional investment opportunity in Stockton, CA, featuring a 7,500 square foot, fully occupied veterinary clinic. This property boasts a strong 10-year NNN lease with AmeriVet, a reputable and expanding veterinary group, commencing July 28, 2022, and expiring July 27, 2032. The lease includes annual rent bumps of 3%, ensuring consistent income growth. The property underwent extensive renovations in 2020, encompassing upgrades to the roof, HVAC, and electrical systems. Located at 338 & 394 E Lafayette St, Stockton, CA 95203, on a 0.23-acre lot, this strategically positioned clinic benefits from high visibility near major freeways and serves a substantial population of 142,955 residents within a 3-mile radius. The property generates a Net Operating Income (NOI) of $127,459, resulting in an attractive cap rate of 11.59%. The asking price is $1,100,000, translating to a price per square foot of $146.67. The lease includes two 5-year renewal options, providing long-term stability and potential for future appreciation. This is a turnkey investment with minimal landlord responsibilities, offering a secure and profitable addition to any portfolio. The property's strong tenant, consistent rent increases, and prime location combine to create a compelling investment opportunity.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,010,000
- ML approach
- $985,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,500,000
- 6.5%
- $1,385,000
- 7%
- $1,285,000
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $725,000 Current use
- OFFICE BUILDING
- $1,385,000 Change: +90% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,260,000 Change: +73% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,100,000 Change: +51% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,095,000 Change: +51% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,085,000 Change: +49% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Stockton
- County
- San Joaquin
- State
- California
- Longitude
- -121.285
- Latitude
- 37.9501
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
