Property Highlights > Rare opportunity to own Stockton real estate with Pacific Avenue frontage REGIONAL MAP > Encouraging upside potential because of short term leases > Property sits within Stockton s major shopping district > Attractive 8% return, unique for a California retail property > Excellent retail dynamics because of property s location Property Overview The subject property consists of an approximately 9,600 square foot multi-tenant strip retail shopping center one parcel north of the northwest corner of Pacific Avenue and Swain Road. The property is situated on roughly 0.58 Acres with 18 parking stalls fronting Pacific Avenue and the tenant s businesses, along with onsite storage utilized by the existing tenants. The site offers excellent retail dynamics including excellent visibility and exposure on two major retail corridors Pacific Avenue and Swain Road, excellent parking, two ingress/egress points to the property from major traffic routes, excellent building signage, and close proximity to Stockton s two major shopping malls. With a price point near $1M, and a return above 7.5%, there are not many other properties in the region that compare to the offering of Miller Shopping Center. Miller Shopping Center s location provides an owner with a rare opportunity to own property along Pacific Avenue, Stockton s major retail corridor.
Summary Photos > Address: 6025-6045 Pacific Avenue Stockton, CA > Offering Price: $1,195,000.00 > Price Per Square Foot: $124.48 > Current NOI: $92,905.73 > Current Cap Rate: 7.775% > Building Sq. Ft: 9,600 > Land Sq. Ft.: 25,410 > A.P.N.#: 097-464-06 > Zoning: Commercial, General (CG) City of Stockton > Number of Tenants: 7 > Number of Parking: 18 stalls > Pylon Signage: Yes
Potential Rental Income Effec ve Gross Income $101,520.00 Operating Expenses (2014) PG&E $ 3,486.76 Water (Individual) $ 1,225.94 Sewer (Individual) $ 1,498.70 Repairs $ 3,828.24 Security/Alarm $ 552.00 Weekly Cleanup $ 2,400.00 Taxes (Business) $ 275.31 Garbage $ 5,289.24 Property Taxes (Current) $ 6,779.56 Insurance $ 6,948.00 Management (6% of EGI) $ 6,091.20 Reserves $ 2,400.00 Water/Sewer (Shared) $ 245.40 Total Opera ng Expenses ($41,020.35) Reimbursement Revenue $ 32,406.08 Projected Annual Income Net Opera ng Income $ 92,905.73 Note The above informa on is based on records of opera ons of the property and may not be in accordance with tenant leases. All prospec ve purchasers are strongly advised to make an independent inves ga on to determine their es mate of costs and expenses and to determine the revenue status and poten al.
Rent Roll Square Monthly Rent Date of Lease Unit Tenant Footage Rent Per SF Occupancy Expira on CAM² 6025 Party 2000 1,200 $1,440.00 $1.20 4/15/2013 6/30/2017 $300 6029 Available 2,000 6033 Accupressure Message 1,600 $1,440.00 $1.60 6/1/2009 12/31/2013¹ $200 6035 Exo c Nails 1,200 $1,200.00 $1.00 12/1/2007 12/31/2013¹ $200 6037 A Z Check Cashing 1,200 $1,680.00 $1.40 Month to Month $200 6041 New Shanghai 1,200 $1,200.00 $1.00 1/1/2006 12/31/2013¹ $200 6045 Boost Mobile (RK Wireless) 1,200 $1,200.00 $1.00 8/1/2013 7/31/2018 $300 Behind Formal Connec on $300.00 Totals 9,600 $8,460.00 ¹Tenant s lease has expired. Currently on month to month. ²Tenant s pay monthly CAM deposit as listed and then are billed for the difference quarterly. Note: The above informa on is based on records of opera ons of the property and may not be in accordance with tenant leases. All prospec ve purchasers are strongly advised to make an independent inves ga on to determine their es mate of costs and expenses and to determine the revenue status and poten al.
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