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Urban-High Street

Stockton City Centre

222 N El Dorado St, Stockton, CA 95202

Listing Price: $26,120,000

Cap Rate
7.00%
Gross SF
87,176
Rentable SF
87,176
Price/Gross SF
$299.62
Lot Size
2.21 acres
Year Built
2003

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Stockton City Centre, which is anchored by a top performing Regal Cinema in Stockton, California. The property consists of an 87,176-square-feet and sits on approximately 2.21 acres of land. The remaining weighted average 8.6 years lease term includes a five percent rental escalation scheduled in March 2023 for Regal Cinemas (80.21% of GLA). Five percent rental escalations will continue for every five years for the remainder of Regal Cinema’s lease, with the next escalation taking effect in March 2023. The theater’s relative performance, both within the chain and industry, have either improved or remained flat for every year, since the theater was renovated in 2016. For 2021, this theater outperformed approximately 9 out of 10 theaters within the Regal chain and 4 out of 5 theaters within the industry. Regal Cinema benefits from a zoning ordinance that doesn’t allow for another theatre with more than 5 screens or 499 total seats to be built within city limits. The property is located at the signalized hard corner of North El Dorado Street, East Miner Avenue, and North Hunter Street (walk score of 96 out of 100). Area traffic counts exceed 229,000 vehicles per day, due to the high traffic intersection of Ort J. Loftus Freeway and West Side Freeway.

Investment Highlights

  • Zoning Benefits/Limited Future Competition - No Theatre with More than 5 Screens or 499 Total Seats Can be Built Within City Limits
  • Rare Ability to Control a Dynamic Downtown Block in California's Central Valley
  • Strong Consumer Traffic & Frontage on Multiple Streets (Walk Score of 96 out of 100)
  • Strong Sales Performance; One of The Top Performing Regal Cinema Nationwide - See Broker for Details
  • $4 Million Renovation in 2016 - State-of-the-Art Enhancements Such as Expanded Concessions, Premium Recliner Seating and Other Upscale Amenities
  • Landlord Owns the Cinema's Furniture, Fixtures and Equipment
  • 98.6% Leased - Tenant Roster Focuses on Dining & Entertainment
  • Nearest Competing Movie Theater is Approximately 5 Miles Away and Lacks Attractive Amenities such as Recliners, Stadium Seating, and Expanded Menu

Exclusively Listed By

Broker of Record

  • Daniel A. Kapic

    Vice President/Regional Manager

    (916) 724-1400

    License(s) CA: 01437375

    California

Financing By

Urban-High Street

Stockton City Centre

Listing Price: $26,120,000

Cap Rate
7.00%
Gross SF
87,176
Rentable SF
87,176
Price/Gross SF
$299.62
Lot Size
2.21 acres
Year Built
2003

Investment Highlights

  • Zoning Benefits/Limited Future Competition - No Theatre with More than 5 Screens or 499 Total Seats Can be Built Within City Limits
  • Rare Ability to Control a Dynamic Downtown Block in California's Central Valley
  • Strong Consumer Traffic & Frontage on Multiple Streets (Walk Score of 96 out of 100)
  • Strong Sales Performance; One of The Top Performing Regal Cinema Nationwide - See Broker for Details
  • $4 Million Renovation in 2016 - State-of-the-Art Enhancements Such as Expanded Concessions, Premium Recliner Seating and Other Upscale Amenities
  • Landlord Owns the Cinema's Furniture, Fixtures and Equipment
  • 98.6% Leased - Tenant Roster Focuses on Dining & Entertainment
  • Nearest Competing Movie Theater is Approximately 5 Miles Away and Lacks Attractive Amenities such as Recliners, Stadium Seating, and Expanded Menu

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Stockton City Centre, which is anchored by a top performing Regal Cinema in Stockton, California. The property consists of an 87,176-square-feet and sits on approximately 2.21 acres of land. The remaining weighted average 8.6 years lease term includes a five percent rental escalation scheduled in March 2023 for Regal Cinemas (80.21% of GLA). Five percent rental escalations will continue for every five years for the remainder of Regal Cinema’s lease, with the next escalation taking effect in March 2023. The theater’s relative performance, both within the chain and industry, have either improved or remained flat for every year, since the theater was renovated in 2016. For 2021, this theater outperformed approximately 9 out of 10 theaters within the Regal chain and 4 out of 5 theaters within the industry. Regal Cinema benefits from a zoning ordinance that doesn’t allow for another theatre with more than 5 screens or 499 total seats to be built within city limits. The property is located at the signalized hard corner of North El Dorado Street, East Miner Avenue, and North Hunter Street (walk score of 96 out of 100). Area traffic counts exceed 229,000 vehicles per day, due to the high traffic intersection of Ort J. Loftus Freeway and West Side Freeway.

Exclusively Listed By

Broker of Record

  • Daniel A. Kapic

    Vice President/Regional Manager

    (916) 724-1400

    License(s): CA: 01437375

    California

Financing By

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