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1720 W Olive Ave 21,710 SF Retail Building Merced, CA 95348 $4,800,000 ($221.10/SF) 6.67% Cap Rate
EXECUTIVE SUMMARY
The subject property is an exciting opportunity to own an irreplaceable piece of hard-corner real estate in growing Merced, CA. This single Tenant building was
recently leased to Mor Furniture For Less who has been successfully operating for over 48 years and has 36 stores in 7 states. The building is located on
Olive Avenue, the most highly trafficked street with the strongest retail synergy in Merced. The center is anchored by Lowe’s. The subject is positioned right down
the street from the exciting Merced Mall redevelopment which is now under construction. New names coming to the Merced Mall include Burlington, ULTA,
Five Below, Petco, Rack Room Shoes, Carter’s, Vallarta Supermarkets and more.
recently leased to Mor Furniture For Less who has been successfully operating for over 48 years and has 36 stores in 7 states. The building is located on
Olive Avenue, the most highly trafficked street with the strongest retail synergy in Merced. The center is anchored by Lowe’s. The subject is positioned right down
the street from the exciting Merced Mall redevelopment which is now under construction. New names coming to the Merced Mall include Burlington, ULTA,
Five Below, Petco, Rack Room Shoes, Carter’s, Vallarta Supermarkets and more.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
21,710 SF
Year Built
2004
Price
$4,800,000
Price Per SF
$221.10
Cap Rate
6.67%
NOI
$320,223
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
2.15 AC
Zoning
PD
Parking
30 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
155’ on Olive Ave
AMENITIES
- Signage
- Signalized Intersection
- Air Conditioning
Bike Score®
Very Bikeable (86)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 058-220-033 | Improvements Assessment | $2,315,238 |
| Land Assessment | $896,720 | Total Assessment | $3,211,958 |
PROPERTY TAXES
Parcel Number
058-220-033
Land Assessment
$896,720
Improvements Assessment
$2,315,238
Total Assessment
$3,211,958
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1720 W Olive Ave
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