For Sale
$1,511,111

2211 Rockefeller DrCeres, CA 95307

High-Traffic Auto Shop, Excellent NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This 7,500 square foot auto shop in Ceres, CA, presents a compelling investment opportunity. Located on Rockefeller Drive, adjacent to the heavily trafficked Highway 99 (approx. 104,700 vehicles daily), this property benefits from high visibility and accessibility. The building, constructed in 2002, is currently leased to Gerber Collision & Glass, the nation's second-largest MSO, under a new 5-year lease with 20 years of options. Gerber's significant capital expenditures upgrading the facility underscore their long-term commitment. The property boasts a strong 6.75% cap rate and a net operating income (NOI) of $102,000, with an asking price of $1,511,111 ($201/sq ft). Situated in a thriving area with a population exceeding 180,000 and an average household income of $93,182 within a 5-mile radius, this location offers exceptional stability and growth potential. The previous owner successfully operated the business for 22 years before selling to Gerber, further demonstrating the site's proven success. This investment offers a blend of strong current income and significant long-term upside potential, anchored by a national, publicly traded tenant. The property is approximately 4 miles from Downtown Modesto, providing easy access to a larger urban center.

Highlights

  • 7,500 SF auto shop leased to Gerber Collision & Glass, the nation's second-largest MSO.
  • New 5-year lease with 20-year options; Gerber recently invested significant capital improvements.
  • High-traffic location adjacent to Highway 99 (approx. 104,700 vehicles daily).
  • Strong investment fundamentals: 6.75% cap rate, $102,000 NOI, $1,511,111 asking price ($201/SF).
  • Thriving location: population exceeding 180,000 and average household income of $93,182 within a 5-mile radius.
  • Proven track record: Previous owner operated successfully for 22 years.

Property Details for 2211 Rockefeller Dr

Property type
Retail properties, Auto shops
Square Feet
7,500 SF
Year Built
2002

Location Insight

City
Ceres
County
Stanislaus
State
California
Latitude
37.5974763
Longitude
-120.9707602
2211 Rockefeller Dr, Ceres, California

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2211 Rockefeller Dr
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