3300 Naglee Rd · Tracy, CA 95304 · Specialty Retail
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Recent 5-Year Lease Extension | Percentage Rent | Strong Sales Figures
NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
West Valley Mall (110+ Acres) | Only Movie Theater in Tracy | Primary Retail Corridor
Strong Demographics In 5-Mile Trade Area
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.
The mall is strategically located just west of the Interstate 205 on/off ramp (86,000 VPD) and benefits from strong visibility and access via Naglee Road (24,500 VPD). Per placer.ai, the subject property welcomed approximately 3.7 million visitors in 2024, further driving consistent foot traffic to the Cinemark. West Valley Mall is anchored by Target and Macy’s and features major national/credit tenants including Hobby Lobby, Best Buy, Trader Joe’s, Burlington, Olive Garden, Applebee’s, and more while promoting crossover exposure to the site. The Cinemark is uniquely positioned as the only movie theater serving the city of Tracy and the surrounding trade areas. The 5-mile trade area is supported by a population of over 116,000 residents and 32,452 employees with an average household income of $155,417.
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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.