For Sale
$7,185,000

1800 Prescott RdModesto, CA 95350

High-traffic Modesto retail investment

Overview

Added:
Dec 11, 2024
Days on market:
115
Briggsmore Plaza, a 53,079 square foot, Class B shopping center in Modesto, CA, presents a compelling investment opportunity. This 100% occupied, multi-tenant property boasts a 7.15% cap rate and a strong NOI of $513,574. The property features three tenants, including In-Shape Family Fitness, with leases extending to December 31, 2030, offering a remaining term of 6.1 years. Built in 1974 and renovated in 2018, the single-story building sits on a 5.06-acre lot zoned P-D (Planned Development). The property benefits from a high-traffic location with daily counts exceeding 50,000 vehicles on Briggsmore Avenue and 24,000 on Prescott Road, enhanced by a signalized intersection with eight points of access. The strong demographics include a 5-mile population density of 224,319 with an average household income of $109,455. Two pylon signs provide excellent visibility. The asking price is $7,185,000, translating to $135.36 per square foot. Lease details, including rent bumps and three 5-year lease options, are available in the brochure. This is a Net Lease (NNN) investment with a lease commencement date of January 21, 2005. The property's location is 1800 Prescott Road, Modesto, CA 95350, within a retail corridor near Highway 99 and other established shopping centers.

Highlights

  • Briggsmore Plaza, a 53,079 SF Class B shopping center in Modesto, CA, offers a 7.15% cap rate and $513,574 NOI.
  • The 100% occupied property features In-Shape Family Fitness and two other tenants, with leases extending to December 31, 2030 (6.1 years remaining).
  • Located on a 5.06-acre lot (P-D zoning), the single-story building (built 1974, renovated 2018) benefits from high traffic counts (50,000+ vehicles daily on Briggsmore Ave, 24,000+ on Prescott Rd) and excellent visibility via two pylon signs.
  • Strong demographics include a 5-mile population of 224,319 with $109,455 average household income. The property is offered at $7,185,000 ($135.36/SF).
  • This NNN investment at 1800 Prescott Road, Modesto, CA 95350, is situated near Highway 99 and other established shopping centers.

Property Details for 1800 Prescott Rd

Property type
Lifestyle centers, Power centers
Square Feet
53,079 SF
Class
B
Year Built/Renovated
1974/2018
Buildings
1
Stories
1
Lot Size (sq. ft)
220,414 SF
Units
3

Location Insight

City
Modesto
County
Stanislaus
State
California
Latitude
37.672212989803
Longitude
-121.02931843429
1800 Prescott Rd, Modesto, California

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1800 Prescott Rd
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