1222 Monaco Ct
Stockton, CA 95207
Monaco Terrace · Office Property For Sale

The subject property consists of two multi-tenant office buildings (two parcels) totaling 13,078-square feet located in Stockton, California. More specifically, the property is located within the southeast corner of West March Lane and North Pershing Avenue (64,223 combined average daily traffic counts). The property is currently 100% percent occupied by 13-professional office tenants all on Full Services leases. Built in 1973, the property benefits from its strategic location (walking distance to Delta College, University of Pacific and numerous regional shopping centers). West March Lane and North Pershing Avenue are two main thoroughfares in Stockton, California. This signalized intersection is home to multiple national and regional tenants including Target, Office Depot, Big 5 Sporting Goods, Goodwill, Hobby Lobby, Outback Steak House, Pizza Hut, Dollar Tree, 99 Cent Store, Buffalo Wild Wings and Burger King. Furthermore, just one block away at the intersection of West March Lane and Pacific Avenue is the Sherwood and Weberstown Malls. These two malls are home to Macys, Petco, Best Buy, Dicks Sporting Goods, Old Navy and Sears (see included aerial photo). San Joaquin Delta College and the University of Pacific (UOP) campuses are both located within one mile of the subject property. Combined, these two colleges have an enrollment of just under 25,000 students. In addition to its Liberal Arts college and graduate school, University of Pacific has schools of business, dentistry, education, engineering, internal law studies, law, music and pharmacy and health science. The subject property is well-located to benefit from both campuses. Combined, the two buildings consist of 14-suites of which 1-suite (278-square feet) is currently vacant. Ranging from 220-square feet to 3,100-square feet, the suites are the ideal size for lease up upon lease rollover. Additionally, the average rental rate in the property is $1.20-per square foot. This is a market rental rate for the area and should be easily replaceable upon lease rollover. Offered at $1,400,000 or $107-per square foot the property is well below replacement price.