Railroad Square

Railroad Square, located at 620 N. Aurora Street, is situated in a Federal Opportunity Zone in Downtown Stockton. The Property is a 3-story (plus a lower level) low rise office building. The Building consists of three above-ground floors of 33,123 SF each, plus a basement. There is a large gated parking lot attached to the building. Two additional gated parking lots are included with the building for overflow parking or future development. The Property also features 88 on-site parking spaces.

The Property features a 2021 in-place cap rate of 7.47% based on net operating income of $635,689.76 inclusive of pro forma property taxes. The average in-place rent on the building is $0.67 per SF per month, modified gross, providing the next owner with tremendous rent and yield upside through lease renegotiations. Assuming a 6.00% cap rate disposition in 2031 based on a net operating income of $784,557, the pro forma value of the property could exceed $13 million providing the strategic investor with a highly reliable income while garnering an attractive 16.57% cash on cash return over the 10 year hold.