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The Shops at Plum Plaza - Food 4 Less 255 E March Ln 43,240 SF 100% Leased Retail Building Stockton, CA 95207 $9,860,000 ($228.03/SF) 6.34% Cap Rate



Investment Highlights
- Brand-new Ten-year lease commitment from Tenant exercised in June 2026.
- Approximately $30M sales revenue reported in 2025.
- $1.2M Cap Ex project currently underway.
Executive Summary
Food 4 Less is a high-performing, necessity-based grocery investment located along Stockton’s primary retail corridor, East March Lane, with exposure to more than 33,000 vehicles per day. The 43,240-square-foot store is operated by PAQ, Inc., an employee-owned grocery company with a long-standing presence throughout Northern and Central California. The tenant recently executed a new 10-year lease commitment in June 2026, demonstrating long-term confidence in the location, while also investing approximately $1 million into store improvements and renovations. The property generates $625,000 in annual net operating income and benefits from 10% rent increases every five years throughout the remaining lease term and option periods. Reported 2025 sales of approximately $30 million and a top 10% store performance ranking further reinforce the strength of the location and tenant operations. Positioned within a dense infill trade area surrounded by national retailers including Costco, Walmart, Lowe’s, Sprouts, Best Buy, Ross, and numerous quick-service restaurants, the property serves as a dominant grocery anchor for the surrounding community. With direct access to Interstate 5, strong regional connectivity, and limited new retail development due to high barriers to entry, the asset offers investors durable cash flow, long-term income growth, and stable grocery-anchored real estate fundamentals.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
43,240 SF
Building Class
B
Year Built
1996
Price
$9,860,000
Price Per SF
$228.03
Cap Rate
6.34%
NOI
$625,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.21
Lot Size
4.73 AC
Zoning
C, Stockton
Parking
200 Spaces (4.63 Spaces per 1,000 SF Leased)
Frontage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
PAQ began operations in 1995 when it acquired two Food 4 Less locations in Stockton and Lodi, California. The company expanded through new store openings in cities like Manteca and Los Banos while adding Rancho San Miguel Markets in 2003 to serve Hispanic communities. Today, the employee-owned company operates both Food 4 Less and Rancho San Miguel Market brands across multiple California regions. The business focuses on providing value through competitive pricing and quality products in its warehouse-style grocery stores. PAQ remains independent from national chains despite sharing the Food 4 Less name with some Kroger locations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Retailer | 99,999 SF | - | Jan 0000 |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 102-130-10 | Improvements Assessment | $5,863,174 |
| Land Assessment | $3,061,585 | Total Assessment | $8,924,759 |
Property Taxes
Parcel Number
102-130-10
Land Assessment
$3,061,585
Improvements Assessment
$5,863,174
Total Assessment
$8,924,759
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