- 94,661 sq. ft. neighborhood shopping center, anchored by Foods Co (NAP).
- Very Stable Asset with Little Turnover; 91.63% Occupancy.
- 5 Properties: 5051, 5061, 5101 Fruitridge/ 5304, 5400 Stockton
Executive Summary
Stockridge Plaza, which is a 94,661 sq. ft. neighborhood shopping center, is anchored by Foods Co (43,251, sq. ft. and NAP of the offering), Harbor Freight Tools (15,000 sq. ft.), Dollar Tree (15,000 sq. ft.), Octapharma (10,000 sq. ft.) and Citi Trends (11,893 sq. ft.). The shopping center was built in 1985 and substantially renovated over the 20 years of ownership by the current owners and tenants. This is the first time the property has been on the market in 20 years. This is a very stable asset with very little turnover and a 91.63% occupancy. Excluding Foods Co., the above major tenants account for over 55% of the total square footage of the center. The Foods Co is ranked 5th out of 20 store locations for visits per sq. ft. (PlacerAI).
The asset is offered at an asking price of $17,775,000, which is a 7.22% cap rate and $187.51/sq. ft. The property is located on the NWC of Stockton Boulevard and Fruitridge Road. The average daily traffic count at the corner was 54,152 cars per day in 2024. Within a 1-mile radius the average household income is $80,901. Within a 5-mile radius there are over 167,000 housing units, 422,000 people and an average household income of $104,600.
The area surrounding Stockridge Plaza is undergoing a major renaissance. Stockton Plaza, which is the shopping center adjacent to the property was recently renovated and new tenants include Smart & Final, Ross Dress for Less, Planet Fitness, Popeyes, Burger King and Dutch Bros. Fruitridge Center, which is a shopping center located diagonally across the street from Stockridge Plaza, was recently renovated and tenants include Wells Fargo Bank, Firestone Tires, Starbucks, and CVS Pharmacy. Just a block north of the property on Stockton Boulevard, The Height on Stockton is a newly completed 200-unit affordable apartment complex. Across the street to the south on Fruitridge Road, San Juan Apartments and Homes, which is a 116-unit affordable housing complex is under construction. Across the street is a McDonald’s. On the other corner is an old Rite Aid site that is currently on the market. On the NWC, in front of Stockridge Plaza are Jack-in-the-Box, Auto Zone, AM/PM and Arco.
According to PlacerAI, Stockridge Plaza had over 2.6M shoppers visit the property in 2024. Although the owners and tenants have spent millions in renovations on the center over the 20 years of ownership, the center has deferred maintenance. Some of the roofs and HVAC units are at the end of their useful life, the property needs to be painted, and the parking lot needs a slurry coat and restriping. With the above improvements, there should be ample rent upside to the buyer.
Stockridge Plaza offers stability with upside to the new buyer, and immediate substantial cash flow. We are looking forward to hearing from you on this new listing.
