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6.5% CAP Rate • NNN Industrial Investment 2084 Lapham Dr 39,434 SF 100% Leased Industrial Building Modesto, CA 95354 $4,188,000 ($106.20/SF) 6.50% Cap Rate
EXECUTIVE SUMMARY
Rare opportunity to invest in a well-maintained, clear-span concrete tilt-up
industrial building in a thriving market. This is an ideal 1031 exchange
opportunity. The property is situated on Lapham Drive in the
Beard Industrial District, Modesto’s premier industrial area. Built in 1961,
the building is ± 39,434 SF on a ± 1.36 AC lot, as per Stanislaus County
records.
The property features two units. Ryan Herco Inc., a national tenant with
over 35 service locations across the country, occupies ± 20,000 SF. They
have been long-term tenants and recently extended their lease. Their unit
includes 2,900 SF of office space, three (3) restrooms, 120-480V power
supply, ± 24' clearance, and four (4) grade-level roll-up doors.
Pacific Warehouser, recently signed a new five (5) year lease and
occupies ± 19,343 SF. Their space includes a small office, two (2)
restrooms, and three (3) grade-level doors.
industrial building in a thriving market. This is an ideal 1031 exchange
opportunity. The property is situated on Lapham Drive in the
Beard Industrial District, Modesto’s premier industrial area. Built in 1961,
the building is ± 39,434 SF on a ± 1.36 AC lot, as per Stanislaus County
records.
The property features two units. Ryan Herco Inc., a national tenant with
over 35 service locations across the country, occupies ± 20,000 SF. They
have been long-term tenants and recently extended their lease. Their unit
includes 2,900 SF of office space, three (3) restrooms, 120-480V power
supply, ± 24' clearance, and four (4) grade-level roll-up doors.
Pacific Warehouser, recently signed a new five (5) year lease and
occupies ± 19,343 SF. Their space includes a small office, two (2)
restrooms, and three (3) grade-level doors.
PROPERTY FACTS
| Price | $4,188,000 | Rentable Building Area | 39,434 SF |
| Price Per SF | $106.20 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1961 |
| Cap Rate | 6.50% | Parking Ratio | 0.5/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 24’ |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 9 |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 1.36 AC | Zoning | M |
| Price | $4,188,000 |
| Price Per SF | $106.20 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.36 AC |
| Rentable Building Area | 39,434 SF |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 0.5/1,000 SF |
| Clear Ceiling Height | 24’ |
| No. Drive In / Grade-Level Doors | 9 |
| Opportunity Zone |
Yes |
| Zoning | M |
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PROPERTY TAXES
| Parcel Number | 036-18-11 | Improvements Assessment | $1,049,419 |
| Land Assessment | $335,148 | Total Assessment | $1,384,567 |
PROPERTY TAXES
Parcel Number
036-18-11
Land Assessment
$335,148
Improvements Assessment
$1,049,419
Total Assessment
$1,384,567
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6.5% CAP Rate • NNN Industrial Investment | 2084 Lapham Dr
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