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1302-1310 9th St 12,000 SF Retail Building Modesto, CA 95354 $2,530,208 CAD ($210.85 CAD/SF) 6.70% Cap Rate
Investment Highlights
- Credit Tenant Sale-Leaseback or Owner-User Opportunity
- 5,000± SF open warehouse, 1,500± SF 40° chiller room, walk-in refrigerator
- 12,000± SF building on 13,939± SF corner lot with 133' frontage on 9th St
Executive Summary
PMZ Commercial Real Estate is pleased to bring to market 1302-1310 9th St, Modesto, CA 95354, a 12,000± sf commercial building on a high-visibility corner lot of 13,939± sf in downtown Modesto. This credit tenant sale-leaseback or owner-user opportunity is currently occupied by Fresh Ideas Flower Co., founded in 1998 and the region's largest wholesale and retail flower bouquet company.
Property features a rare combination of office, retail, refrigerated cold storage, and open warehouse space under one roof. Interior highlights include a 5,000± sf open warehouse (50'×100'), a 1,500± sf 40° chiller room, a walk-in refrigerator, large office and retail areas, a remodeled restroom, and a breakroom with kitchenette.
The property is offered with a seller sale-leaseback in place featuring a five-year modified gross lease at $13,000 per month starting rent, with two 5-year options. Tenant is responsible for all maintenance except roof and structure. Net Operating Income of $122,800 provides a 6.7% cap rate, offering immediate, stable income from day one. Property could be sold to an owner-user if preferred.
Zoned CM, allowing for a variety of uses. Well suited for food distribution, cold storage, light industrial, or other commercial businesses. Please check with the City of Modesto planning department for further details on permitted uses. Call listing agent for more details and to arrange a showing.
Property features a rare combination of office, retail, refrigerated cold storage, and open warehouse space under one roof. Interior highlights include a 5,000± sf open warehouse (50'×100'), a 1,500± sf 40° chiller room, a walk-in refrigerator, large office and retail areas, a remodeled restroom, and a breakroom with kitchenette.
The property is offered with a seller sale-leaseback in place featuring a five-year modified gross lease at $13,000 per month starting rent, with two 5-year options. Tenant is responsible for all maintenance except roof and structure. Net Operating Income of $122,800 provides a 6.7% cap rate, offering immediate, stable income from day one. Property could be sold to an owner-user if preferred.
Zoned CM, allowing for a variety of uses. Well suited for food distribution, cold storage, light industrial, or other commercial businesses. Please check with the City of Modesto planning department for further details on permitted uses. Call listing agent for more details and to arrange a showing.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
12,000 SF
Building Class
B
Year Built
1920
Price
$2,530,208 CAD
Price Per SF
$210.85 CAD
Cap Rate
6.70%
NOI
$169,524 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.86
Lot Size
0.32 AC
Opportunity Zone
Yes
Zoning
CM
Frontage
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 105-45-11 | Improvements Assessment | $1,006,976 CAD |
| Land Assessment | $287,922 CAD | Total Assessment | $1,294,898 CAD |
Property Taxes
Parcel Number
105-45-11
Land Assessment
$287,922 CAD
Improvements Assessment
$1,006,976 CAD
Total Assessment
$1,294,898 CAD
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1302-1310 9th St
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