380 Cherokee Ln Lodi, CA 95240-4266
- Commercial real estate
- 2.37 lot acres
Sep 01, 2023
Current Use by Public Records
- Big Lots / Discount Store / Furniture Store
Property Details for 380 Cherokee Ln
- Lot size
- 2.37 lot acres
- Zone code
- N
- Property type
- Commercial real estate
- APN
- 047-450-300-000
- APU
- 47450300000
Description
This exceptional retail investment opportunity features a 26,148 square foot Big Lots store located at 380 S Cherokee Ln, Lodi, CA 95240. The property sits on a substantial 103,148 square foot lot and is offered fee simple, free and clear of debt. The property boasts a 20-year absolute NNN lease with a corporate guarantee from Big Lots, Inc. (NYSE: BIG), providing significant long-term security and rental income. The lease includes a favorable 2% annual rent increase, ensuring consistent NOI growth. Currently operating at 100% occupancy, the property generates a strong NOI of $220,218, representing a 6.25% cap rate on the asking price of $3,523,491 ($134.75/sq ft). The property benefits from a prime location within a thriving retail corridor, serving a substantial population with high average household incomes exceeding $86,100 within a three-mile radius and $93,000 within five miles. The large lot size presents potential for future value-add opportunities, such as pad development, subject to tenant approval. This offering presents a compelling investment opportunity with strong intrinsic value and potential for long-term appreciation. The property is available for a 1031 exchange.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,950,000
- ML approach
- $2,520,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lodi
- County
- San Joaquin
- State
- California
- Longitude
- -121.259
- Latitude
- 38.13
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
