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Burger King / Round Table Pizza 102 Ward Ave 5,489 SF 100% Leased Retail Building Patterson, CA 95363 $3,880,000 ($706.87/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% leased to experienced franchisees
- Abundant on-site parking
- Located down the street from the local high school and elementary school
- Attractive building design - 2019 construction
- Situated between a Walgreen's store and a Starbuck's
EXECUTIVE SUMMARY
Great opportunity to acquire an attractive 2-tenant retail building that was newly constructed in 2019. This property was designed to accommodate a +/-2,472 sq. ft. Burger King that is equipped with a drive through lane. The remaining +/-3,017 sq. ft. space was leased to Round Table Pizza that reflects the chain's new restaurant design.
Both tenants are on triple net (NNN) lease with attractive rent increases every 5 years. This property is located in Stanislaus County, just 27 miles southeast of Tracy and 29 miles southwest of Modesto. Tenant's enjoy this location being situated down the street from the local high school and elementary school. City population reported at 25,868 and growing because this community is luring many commuters seeking lower home prices than those available in the Bay Area metro.
Del Puerto Medical Center recently acquired the 17 acre parcel directly behind the subject property and will soon develop a new hospital, senior care facility and medical offices that will draw additional traffic to this area.
Both tenants are on triple net (NNN) lease with attractive rent increases every 5 years. This property is located in Stanislaus County, just 27 miles southeast of Tracy and 29 miles southwest of Modesto. Tenant's enjoy this location being situated down the street from the local high school and elementary school. City population reported at 25,868 and growing because this community is luring many commuters seeking lower home prices than those available in the Bay Area metro.
Del Puerto Medical Center recently acquired the 17 acre parcel directly behind the subject property and will soon develop a new hospital, senior care facility and medical offices that will draw additional traffic to this area.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,489 SF
Building Class
B
Year Built
2019
Price
$3,880,000
Price Per SF
$706.87
Cap Rate
5.75%
NOI
$223,120
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
1.05 AC
Zoning
GC - General Commercial (GC) allows for general retail, along with professional offices, personal services, medical clinics, medical/dental offices.
Parking
59 Spaces (10.75 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 048-47-16 | Improvements Assessment | $2,421,331 |
| Land Assessment | $693,447 | Total Assessment | $3,114,778 |
PROPERTY TAXES
Parcel Number
048-47-16
Land Assessment
$693,447
Improvements Assessment
$2,421,331
Total Assessment
$3,114,778
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Burger King / Round Table Pizza | 102 Ward Ave
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