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Warehouse

4283 N Wilson Way

4283 N Wilson Way, Stockton, CA 95205

Listing Price: $2,925,000

Cap Rate
2.78%
Gross SF
45,000
Price/Gross SF
$65.00
Lot Size
2.57 acres
Year Built
1979
Rentable SF
45,000

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 4283 N Wilson Way, Stockton, California 95205. The property is comprised of two small-bay industrial buildings totaling ± 45,000 square feet on ± 2.57-acres of land. The ?rst building has a total of 10 units, which are ± 1,500 square feet each. The second building has a total of 18 units; 12 of the units are ± 1,500 square feet each and six of the units are ± 2,000 square feet each. Next, the location of the asset provides tenants with easy access to Highway 99 and Downtown Stockton. Additionally, the adjacent ± 4.55-acre parcel of land is currently in the process of obtaining permits to begin construction on a new retail development which has already signed an agreement with Chevron and Starbucks. This new development will positively impact the subject property by revitalizing the surrounding area and attracting more consumer traf?c. Since the buildings were constructed in 1979, the same family has owned and operated the property without the use of a property management company. The buildings are currently 100-percent occupied with tenants who are all on month-to-month "handshake" agreements. The current in-place rents average rents $0.34/SF/Month (Gross), which is approximately 121 percent below the market lease rate of $0.75/SF/Month (Gross). The property bene?ts from low operating expenses due to the water being pulled from a well and the sewage being attached to septic. There have been no capital improvements completed in the recent years, which creates an opportunity for the next owner to add value to the property. Additionally, there is a large amount of excess yard space on the side of building (2b), which could be used for outdoor storage and provide additional revenue to the owner. In summary, the offering presents an extremely rare, value-add industrial investment opportunity with a clear path to upside by completing capital improvements and raising rents to the market rate. Additionally, the subject property will positively bene?t from the adjacent ± 4.55-acre retail development that will be breaking ground in the near future. For More Information or to Schedule a Property Tour, Please Contact the Listing Agents.

Investment Highlights

  • Two Small-Bay Industrial Buildings Comprised of 25 Units, Ranging in Size from ± 1,500 SF to ± 2,000 SF.
  • Clear Path to Upside by Completing Capital Improvements and Raising Rents.
  • The Subject Property will Benefit from the Adjacent Retail Development Breaking Ground in the Near Term (Starbucks and Chevron Gas Station Expected).
  • All Units have Separate Electrical Meters and are Equipped with Water, Sewer, and Gas Lines.
  • Low Operating Expenses Due to Water Well and Septic Sewage.
  • Additional Income From Billboard (Owned and Operated by Anchor Billboards).
  • Excess Yard Space Creates Opportunity to Collect Additional Income from Outdoor Storage.

Exclusively Listed By

Warehouse

4283 N Wilson Way

Listing Price: $2,925,000

Cap Rate
2.78%
Gross SF
45,000
Price/Gross SF
$65.00
Lot Size
2.57 acres
Year Built
1979
Rentable SF
45,000

Investment Highlights

  • Two Small-Bay Industrial Buildings Comprised of 25 Units, Ranging in Size from ± 1,500 SF to ± 2,000 SF.
  • Clear Path to Upside by Completing Capital Improvements and Raising Rents.
  • The Subject Property will Benefit from the Adjacent Retail Development Breaking Ground in the Near Term (Starbucks and Chevron Gas Station Expected).
  • All Units have Separate Electrical Meters and are Equipped with Water, Sewer, and Gas Lines.
  • Low Operating Expenses Due to Water Well and Septic Sewage.
  • Additional Income From Billboard (Owned and Operated by Anchor Billboards).
  • Excess Yard Space Creates Opportunity to Collect Additional Income from Outdoor Storage.

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 4283 N Wilson Way, Stockton, California 95205. The property is comprised of two small-bay industrial buildings totaling ± 45,000 square feet on ± 2.57-acres of land. The ?rst building has a total of 10 units, which are ± 1,500 square feet each. The second building has a total of 18 units; 12 of the units are ± 1,500 square feet each and six of the units are ± 2,000 square feet each. Next, the location of the asset provides tenants with easy access to Highway 99 and Downtown Stockton. Additionally, the adjacent ± 4.55-acre parcel of land is currently in the process of obtaining permits to begin construction on a new retail development which has already signed an agreement with Chevron and Starbucks. This new development will positively impact the subject property by revitalizing the surrounding area and attracting more consumer traf?c. Since the buildings were constructed in 1979, the same family has owned and operated the property without the use of a property management company. The buildings are currently 100-percent occupied with tenants who are all on month-to-month "handshake" agreements. The current in-place rents average rents $0.34/SF/Month (Gross), which is approximately 121 percent below the market lease rate of $0.75/SF/Month (Gross). The property bene?ts from low operating expenses due to the water being pulled from a well and the sewage being attached to septic. There have been no capital improvements completed in the recent years, which creates an opportunity for the next owner to add value to the property. Additionally, there is a large amount of excess yard space on the side of building (2b), which could be used for outdoor storage and provide additional revenue to the owner. In summary, the offering presents an extremely rare, value-add industrial investment opportunity with a clear path to upside by completing capital improvements and raising rents to the market rate. Additionally, the subject property will positively bene?t from the adjacent ± 4.55-acre retail development that will be breaking ground in the near future. For More Information or to Schedule a Property Tour, Please Contact the Listing Agents.

Exclusively Listed By

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