For Sale
$1,799,000

445 Main StStockton, CA 95202

Prime waterfront location, high upside potential.

Overview

Added:
Feb 14
Days on market:
49
This 22,150 square foot, three-story hotel located at 445 E Main St, Stockton, CA 95202, presents a unique redevelopment opportunity. Currently vacant, this Class C property, built in 1915, offers 40 units ideal for conversion into a mixed-use development. The current plan envisions transforming the hotel into 32 apartments and four ground-level retail spaces. The property boasts a pro-forma NOI of $345,000 and a pro-forma cap rate of 9.00%. The asking price is $1,799,000, significantly below the current as-is appraised value of $2,350,000. The after-repair value is projected at $5,700,000 with a $2,000,000 rehab budget. Situated in Stockton's revitalizing waterfront district, this investment benefits from significant rent growth and urban renewal efforts. Attractive seller financing options are available, allowing for a lower down payment and capital preservation for project costs. The property's location within the waterfront district promises excellent cash flow and appreciation potential. The occupancy date is projected for February 12, 2025.

Highlights

  • $1,799,000 asking price for a 22,150 sq ft, 40-unit hotel in Stockton, CA.
  • 9% pro-forma cap rate with a $345,000 pro-forma NOI.
  • Vacant property, projected occupancy date of February 12, 2025.
  • Located in Stockton's Waterfront District, undergoing significant redevelopment.
  • Seller financing available; MAI appraised value significantly higher than asking price.

Property Details for 445 Main St

Property type
Retail properties, Mixed-use properties
Square Feet
22,150 SF
Class
C
Year Built
1915
Stories
3
Units
40

Location Insight

City
Stockton
County
San Joaquin
State
California
Latitude
37.953638440974
Longitude
-121.28462261039
445 Main St, Stockton, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
445 Main St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message