3501 Coffee Rd
Modesto, CA 95355
Sylvan Office Building · Office Property For Sale

Offered for sale is an 82%-leased, two-story, garden style office building in one of North Modesto' s most convenient locations. Upside potential comes from repositioning the asset, leasing the remaining space, raising rents to market, and optimizing expenses. Currently leased to 7 businesses the property can easily accommodate many types and sizes of businesses with suites ranging in size from 870 to 3,821 square feet. Tenants enjoy the property' s serene garden landscaping, ample parking, easy access and the abundance of dining, shopping, and business services within a short distance. The Property is offered for sale at $2,100,000 ($123 psf), which represents a capitalization rate of 4.31% on actual net operating income of $90,445. Average rent in place is $0.97 psf/mo while average asking rent among nearby office properties is $1.35-1.55 PSF. Leasing the two vacant units will bring the initial CAP rate to 6.21%. Further increasing remaining rents to $1.20 psf/mo (less than market) will furnish an 8.24% CAP rate at offered price. *Rent Roll and additional financial information available on request. Northwest corner of Coffee & Sylvan.