408 Paradise Rd 8,320 SF Retail Building Modesto, CA 95351 $1,900,000 ($228.37/SF) 9.50% Cap Rate

Capitalize on California's thriving cannabis sector with this exceptional opportunity: a brand-new 10-year NNN lease with 3% annual increases, anchored by Club W. The property at 408 Paradise Road boasts a complete recent remodel of the exterior and ground-floor interior, creating a modern, inviting retail environment perfect for high-traffic dispensary use. Priced at $1.9 million with a scheduled NOI of $180,000, this delivers an robust 9.5% cap rate—ideal for passive investors, 1031 exchanges, or those seeking recession-resistant income in a growing industry.
Investment Highlights:
• Lease Structure: NNN lease with tenant responsible for all taxes, insurance, and maintenance.
• Term & Rent Growth: New 10-year lease with 3% annual rent increases and options to extend.
• Financials:
? NOI: $180,000 annually
? Price: $1,900,000
? Cap Rate: 9.5%
• Property Condition: Recently remodeled exterior and ground-floor interior.
• Tenant: Club W, a well-established and experienced and growing cannabis operator with ±14 locations plus ±5 new locatons in the
pipeline, as well as a 4.7/5 Weedmaps rating from 550+ reviews, driving strong local traffic.
• Investment Appeal: Low-maintenance, “like-new” NNN asset with strong yield, built-in rent growth, and no landlord responsibilities—ideal
for passive investors seeking above-market returns.