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Cinemark 3300 N Naglee Rd 48,619 SF Retail Building Tracy, CA 95376 $9,500,000 ($195.40/SF) 8.06% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent 5-Year Lease Extension | Percentage Rent | Strong Sales Figures
- West Valley Mall (110+ Acres) | Only Movie Theater in Tracy | Primary Retail Corridor
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Cinemark investment property located in Tracy, California. The tenant, Cinemark, Inc has over 5 years remaining of lease term with a one (5-year) option to extend. The lease features a $1/SF/Yr rental increase at the beginning of the 5 year option, steadily growing NOI and providing a hedge against inflation. The lease is NN, with the Landlord responsible for the roof, structure, and liability insurance. Cinemark has enjoyed nearly 30 years of operating history at this location, having originally signed the lease in 1996 and recently exercised a five-year extension, showing their commitment to the site. This Cinemark location reported $7.6 million in gross sales in 2024 and is on track to reach approximately $9.4 million in 2025. Cinemark pays percentage rent equal to 10% of all sales above 8.5 million, providing an opportunity for additional income. Cinemark is a junior anchor to the 760,000 SF West Valley Mall and is not yet parcelized. A buyer will be responsible for subdividing the property during escrow.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
48,619 SF
Building Class
C
Year Built
1995
Price
$9,500,000
Price Per SF
$195.40
Cap Rate
8.06%
NOI
$765,749
Tenancy
Single
Building Height
1 Story
Building FAR
0.97
Lot Size
1.15 AC
Zoning
PUD - Planned Unit Development
Parking
198 Spaces (4.07 Spaces per 1,000 SF Leased)
AMENITIES
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Enclosed Mall
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 212-050-31 | Improvements Assessment | $6,130,000 |
| Land Assessment | $3,870,000 | Total Assessment | $10,000,000 |
PROPERTY TAXES
Parcel Number
212-050-31
Land Assessment
$3,870,000
Improvements Assessment
$6,130,000
Total Assessment
$10,000,000
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Cinemark | 3300 N Naglee Rd
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