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1021 McHenry Ave 27,000 SF 37% Leased Retail Building Modesto, CA 95350 $4,725,000 ($175/SF)
Investment Highlights
- Significant value add potential.
- Corner lot.
- Excellent average household income of $122,028 within a 0.3 mile radius.
- Two 1,000 SF units available at 1009 McHenry Ave and one 15,000 SF contiguous unit available at 1021 McHenry Ave.
- High traffic retail corridor: Traffic count of 35,012 ADV on McHenry Ave directly in front of this property.
Executive Summary
This retail property offers a prime investment opportunity along McHenry Avenue, one of Modesto’s most heavily trafficked commercial corridors. The asset consists of approximately 27,000 square feet of retail space situated on a 1.56-acre corner parcel with 230 feet of frontage. Its location provides exceptional visibility and access, supported by an average daily traffic count exceeding 35,000 vehicles.
Currently 37% leased, the property presents significant value-add potential for investors seeking to reposition or stabilize occupancy. The existing tenant mix includes service-oriented and e-commerce-resistant businesses such as a neighborhood market, salon, and veterinary clinic, creating a foundation for long-term income stability. Two smaller units and one large-format space are available, offering flexibility for future leasing strategies.
Currently 37% leased, the property presents significant value-add potential for investors seeking to reposition or stabilize occupancy. The existing tenant mix includes service-oriented and e-commerce-resistant businesses such as a neighborhood market, salon, and veterinary clinic, creating a foundation for long-term income stability. Two smaller units and one large-format space are available, offering flexibility for future leasing strategies.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
27,000 SF
Year Built
1956
Price
$4,725,000
Price Per SF
$175
Percent Leased
37%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
1.56 AC
Zoning
C-2
Frontage
230’ on McHenry Ave
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 113-05-38 | Improvements Assessment | $1,636,000 |
| Land Assessment | $714,000 | Total Assessment | $2,350,000 |
Property Taxes
Parcel Number
113-05-38
Land Assessment
$714,000
Improvements Assessment
$1,636,000
Total Assessment
$2,350,000
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1021 McHenry Ave
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