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318 McHenry Ave 6,063 SF 100% Leased Office Building Modesto, CA 95354 $1,400,000 ($230.91/SF) 6.67% Cap Rate
Investment Highlights
- 100% leased investment
- Located along Modesto's main corridor and adjacent to downtown
- Priced below replacement cost
Executive Summary
This leased investment is 100% occupied by AIM Higher, Inc. through November 30, 2030. The tenant has been in possession of the property since July 2021 and recently
renewed their lease for an additional five years. The lease is a Gross lease and there are 3% annual increases built into the rent schedule.
renewed their lease for an additional five years. The lease is a Gross lease and there are 3% annual increases built into the rent schedule.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,063 SF
Building Class
B
Year Built/Renovated
1970/2010
Price
$1,400,000
Price Per SF
$230.91
Cap Rate
6.67%
NOI
$93,345
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,063 SF
Building FAR
0.33
Lot Size
0.42 AC
Zoning
PO, Modesto - Professional Office
Parking
19 Spaces (3.13 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- AIM Higher Inc.
- Health Care and Social Assistance
- 6,000 SF
- $1.62
- Modified Gross
- Nov 2031
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| AIM Higher Inc. | Health Care and Social Assistance | 6,000 SF | $1.62 | Modified Gross | Nov 2031 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 111-05-67 | Improvements Assessment | $228,310 |
| Land Assessment | $331,820 | Total Assessment | $560,130 |
Property Taxes
Parcel Number
111-05-67
Land Assessment
$331,820
Improvements Assessment
$228,310
Total Assessment
$560,130
Contact
-
Bowen Cardoza -
Link Commercial Property Group
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318 McHenry Ave
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