330+332 E. Kettleman Lane

Lodi

330+332 E. Kettleman Lane

Region: Lodi
Use: Retail / Restaurant / Industrial
Lot Size: 1.06 acres
Lease or Sale: Sale
Sale Price: $1,295,000

330 and 332 E Kettleman Lane in Lodi (just north of Lodi) provides a rare opportunity to acquire highly visible commercial buildings totaling 10,744 square feet on 1.06 acres.

The subject property sits along Lodi’s busiest commercial thoroughfare, E. Kettleman Lane, and is just one minute from Highway 99 and E Kettleman interchange. Highway 99 is one of the Sacramento/Central Valley’s major arterials. The property benefits from more than 19,500 cars per day, with short-term retail development potential to service the food, retail or gasoline related industries that are under-represented in the immediate area.

330 and 332 E Kettleman Lane is intriguing to either an owner/user that can benefit from the existing ±10,744 square feet of commercial buildings and automobile servicing bays and the additional land along the southern portion of the property, or to an investor looking to maximize the income stream from the property from the well below market rents.

Currently, the property is generating approximately $6,004 per month and $72,050 per annum in net operating income, which reflects a current cap rate of 5.56%. If rents were brought to current market value, and the new owner charged additional rent for the 15,000 square feet of yard space, the in-place annual net operating income would be approximately $90,000 per year, or an pro forma cap rate of 6.9%. The zoning of the property (GC) is conducive to a variety of uses and with excellent freeway access.

330 and/or 332 E Kettleman Lane can be delivered vacant at close of escrow for an owner/user.

 

 

You might also like: