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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 USD ($106 USD/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 USD | Rentable Building Area | 39,434 SF |
Price Per SF | $106 USD | 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 FT |
Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 9 |
Building Class | B | Opportunity Zone |
Yes
|
Lot Size | 1.36 AC |
Price | $4,188,000 USD |
Price Per SF | $106 USD |
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 FT |
No. Drive In / Grade-Level Doors | 9 |
Opportunity Zone |
Yes |
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PROPERTY TAXES
Parcel Number | 036-18-11 | Improvements Assessment | $1,049,419 USD |
Land Assessment | $335,148 USD | Total Assessment | $1,384,567 USD |
PROPERTY TAXES
Parcel Number
036-18-11
Land Assessment
$335,148 USD
Improvements Assessment
$1,049,419 USD
Total Assessment
$1,384,567 USD
zoning
Zoning Code | M |
M |
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6.5% CAP Rate • NNN Industrial Investment | 2084 Lapham Dr
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