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408 Paradise Rd 8,320 SF Retail Building Modesto, CA 95351 $2,597,737 CAD ($312.23 CAD/SF) 9.50% Cap Rate
Executive Summary
Capitalize on California's thriving cannabis sector with this exceptional opportunity: a brand-new 10-year NNN lease with 3% annual increases, anchored by Club W. The property at 408 Paradise Road boasts a complete recent remodel of the exterior and ground-floor interior, creating a modern, inviting retail environment perfect for high-traffic dispensary use. Priced at $1.9 million with a scheduled NOI of $180,000, this delivers an robust 9.5% cap rate—ideal for passive investors, 1031 exchanges, or those seeking recession-resistant income in a growing industry.
Investment Highlights:
• Lease Structure: NNN lease with tenant responsible for all taxes, insurance, and maintenance.
• Term & Rent Growth: New 10-year lease with 3% annual rent increases and options to extend.
• Financials:
? NOI: $180,000 annually
? Price: $1,900,000
? Cap Rate: 9.5%
• Property Condition: Recently remodeled exterior and ground-floor interior.
• Tenant: Club W, a well-established and experienced and growing cannabis operator with ±14 locations plus ±5 new locatons in the
pipeline, as well as a 4.7/5 Weedmaps rating from 550+ reviews, driving strong local traffic.
• Investment Appeal: Low-maintenance, “like-new” NNN asset with strong yield, built-in rent growth, and no landlord responsibilities—ideal
for passive investors seeking above-market returns.
Investment Highlights:
• Lease Structure: NNN lease with tenant responsible for all taxes, insurance, and maintenance.
• Term & Rent Growth: New 10-year lease with 3% annual rent increases and options to extend.
• Financials:
? NOI: $180,000 annually
? Price: $1,900,000
? Cap Rate: 9.5%
• Property Condition: Recently remodeled exterior and ground-floor interior.
• Tenant: Club W, a well-established and experienced and growing cannabis operator with ±14 locations plus ±5 new locatons in the
pipeline, as well as a 4.7/5 Weedmaps rating from 550+ reviews, driving strong local traffic.
• Investment Appeal: Low-maintenance, “like-new” NNN asset with strong yield, built-in rent growth, and no landlord responsibilities—ideal
for passive investors seeking above-market returns.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
8,320 SF
Building Class
C
Year Built
1961
Price
$2,597,737 CAD
Price Per SF
$312.23 CAD
Cap Rate
9.50%
NOI
$246,785 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.47
Lot Size
0.41 AC
Parking
40 Spaces (4.81 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (81)
Nearby Major Retailers
Property Taxes
| Parcel Number | 030-20-11 | Improvements Assessment | $971,788 CAD |
| Land Assessment | $283,734 CAD | Total Assessment | $1,255,522 CAD |
Property Taxes
Parcel Number
030-20-11
Land Assessment
$283,734 CAD
Improvements Assessment
$971,788 CAD
Total Assessment
$1,255,522 CAD
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408 Paradise Rd
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