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1300 McHenry Ave 10,843 SF Retail Building Modesto, CA 95350 $5,530,000 CAD ($510.01 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 35,337 ADT
- SALE LEASE BACK
- FREE STANDING BUILDING
EXECUTIVE SUMMARY
PRICE REDUCTION!
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.!!
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.!!
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
$5,530,000 CAD
Price Per SF
$510.01 CAD
Cap Rate
6%
NOI
$331,717 CAD
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 (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 031-11-56 | Improvements Assessment | $2,085,174 CAD |
| Land Assessment | $586,223 CAD | Total Assessment | $2,671,397 CAD |
PROPERTY TAXES
Parcel Number
031-11-56
Land Assessment
$586,223 CAD
Improvements Assessment
$2,085,174 CAD
Total Assessment
$2,671,397 CAD
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1300 McHenry Ave
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