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1300 McHenry Ave 10,843 SF Retail Building Modesto, CA 95350 $4,300,000 ($396.57/SF) 5.58% Cap Rate
INVESTMENT HIGHLIGHTS
- 35,337 ADT
- SALE LEASE BACK
- FREE STANDING BUILDING
EXECUTIVE SUMMARY
NNN LEASED INVESTMENT (Sale/Leaseback)
FREE STANDING RESTAURANT AND BAR ON MODESTO'S MAIN COMMERCIAL CORRIDOR
10,843 SF RESTAURANT
35,337 ADT
SELLER/TENANT WILL SIGN NEW LONG TERM LEASE TO START AT CLOSE OF ESCROW
CURRENTLY OPERATED AS MARISCOS LA CEIBA (Mexican seafood restaurant and live music)
IN ADDITION TO 28 PARKING SPACES IT ALSO HAS RECIPROCAL PARKING AND ACCESS AGREEMENTS WITH TWO ADJACENT PARCELS (STARBUCKS AND DAYS IN HOTEL BY WYNDHAM)
National retailers in the trade area include: Starbucks, Pep Boys, Chevron, Days Inn by Wyndham hotel, Wendy's, Sonic, Denny's, Ramada by Wyndham hotel, Dutch Brothers Coffee, Walgreen's, Sprouts, CVS, Rite Aid, Togo's, Ike's sandwiches, Panera, Chipotle, Habit Burger, Jersey Mikes, Safeway, Jack in the Box, McDonald's, US Bank and others.
FREE STANDING RESTAURANT AND BAR ON MODESTO'S MAIN COMMERCIAL CORRIDOR
10,843 SF RESTAURANT
35,337 ADT
SELLER/TENANT WILL SIGN NEW LONG TERM LEASE TO START AT CLOSE OF ESCROW
CURRENTLY OPERATED AS MARISCOS LA CEIBA (Mexican seafood restaurant and live music)
IN ADDITION TO 28 PARKING SPACES IT ALSO HAS RECIPROCAL PARKING AND ACCESS AGREEMENTS WITH TWO ADJACENT PARCELS (STARBUCKS AND DAYS IN HOTEL BY WYNDHAM)
National retailers in the trade area include: Starbucks, Pep Boys, Chevron, Days Inn by Wyndham hotel, Wendy's, Sonic, Denny's, Ramada by Wyndham hotel, Dutch Brothers Coffee, Walgreen's, Sprouts, CVS, Rite Aid, Togo's, Ike's sandwiches, Panera, Chipotle, Habit Burger, Jersey Mikes, Safeway, Jack in the Box, McDonald's, US Bank and others.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Restaurant
Building Size
10,843 SF
Building Class
B
Year Built
1968
Price
$4,300,000
Price Per SF
$396.57
Cap Rate
5.58%
NOI
$239,940
Tenancy
Single
Building Height
1 Story
Building FAR
0.55
Lot Size
0.46 AC
Zoning
C-2 Modesto - Commercial
Parking
28 Spaces (2.58 Spaces per 1,000 SF Leased)
Frontage
153’ on McHenry Ave
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 031-11-56 | Improvements Assessment | $1,461,762 |
| Land Assessment | $410,958 | Total Assessment | $1,872,720 |
PROPERTY TAXES
Parcel Number
031-11-56
Land Assessment
$410,958
Improvements Assessment
$1,461,762
Total Assessment
$1,872,720
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