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Cool Hand Luke's 2505 Patterson Rd 7,537 SF Retail Building Riverbank, CA 95367 $2,680,000 ($355.58/SF) 6.61% Cap Rate
Investment Highlights
- Passive NN lease with minimal landlord responsibilities (new roof installed in 2024 with 10-year warranty)
- Strong retail symmetry from surrounding tenants such as IMAX Galaxy Theatres, Starbucks, Taco Bell, Burger King, CVS and many more.
- Strong operator group with three experienced personal guarantors
- Uncapped rent increase at next upcoming option in 2028, allowing a new owner to increase cash flow
Executive Summary
Transwestern is pleased to present a single tenant investment leased to Cool Hand Luke’s Steakhouse & Saloon in the growing Modesto MSA. The building has a high quality, western theme buildout including a large bar/lounge and outdoor patio. The franchisee operates multiple Cool Hand Luke’s locations and recently acquired this location in 2025. Cool Hand Luke’s has operated at this location since 2008. The site sits along the busy Patterson Road (20,350+ VPD) and is an outparcel to IMAX Galaxy Theatre.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,537 SF
Building Class
B
Year Built
2004
Price
$2,680,000
Price Per SF
$355.58
Cap Rate
6.61%
NOI
$177,031
Tenancy
Single
Building Height
1 Story
Building FAR
0.58
Lot Size
0.30 AC
Zoning
C2
Parking
87 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
143’ on Patterson Rd
Nearby Major Retailers
Property Taxes
| Parcel Number | 075-08-31 | Improvements Assessment | $2,229,081 |
| Land Assessment | $153,891 | Total Assessment | $2,382,972 |
Property Taxes
Parcel Number
075-08-31
Land Assessment
$153,891
Improvements Assessment
$2,229,081
Total Assessment
$2,382,972
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Cool Hand Luke's | 2505 Patterson Rd
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