Spreckels Park Shopping Center
Manteca, Calif
Marketing description
CBRE is proud to offer the opportunity to acquire Spreckels Park Shopping Center, a high-visibility neighborhood shopping center located on East Yosemite Avenue, Manteca’s primary retail corridor, and proximate to U.S. Highway 99.
The Center is surrounded by major users such as Target, Food 4 Less, TJ Maxx and Staples and features a complementary roster of strong, high traffic co-tenants including PetSmart and San Joaquin General Hospital.
The Center is priced at $13,315,000 which equates to $244 per square foot and a year one capitalization rate of 6.5%. Leases are net as to costs of occupancy. At the asking price the all cash IRR is 9.61%. Rents in place are below market which suggests realistic and plausible appreciation potential in the early years of one’s ownership. Please refer to the Argus analysis provided in the offering memorandum for more detail on the disparity between in-place and market rents.
Spreckels Park Shopping Center enjoys a superb retail location at the southeast quadrant of Yosemite Avenue and Spreckels Avenue with a combined average traffic count of 28,981 vehicles per day.
Investment highlights
97% leased neighborhood center
Leases are net as to expenses of occupancy
Attractive initial returns with room to run as rents in place are brought up to market
Low purchase price per square foot is a tiny fraction of replacement cost
Nearby tenants in the retail cluster of this active submarket include Target, T.J. Maxx, Staples, Food 4 Less and PetSmart
Superb location at the southwest quadrant of Yosemite and Spreckels Avenues, immediately west of U.S. Highway 99 and a traffic count of 107,000 vehicles per day
The trade area is affluent with a median household income approaching $95,000 per the World Population Review.
Manteca’s proximity to the Bay Area, lower cost housing and family-friendly lifestyle have encouraged strong and consistent population growth. Per the World Population Review Manteca has a 2025 population of 94,292 and an annual growth rate of 2.92%. Its population has increased by 12.17% since the 2020 census.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
