401 E StMadera, CA 93638

Property Details for 401 E St

Year built

1977

Lot size

1.83 AC

Property size (Sq ft)

44,165 SF

Property type

Industrial properties

Property subtype

Other warehouses

Description

This exceptional value-add investment opportunity presents a 44,165 square foot multi-tenant industrial complex situated on 1.83 acres in Madera, California. The property, comprised of six single-story buildings constructed in 1977 and renovated in 2023, features 20 units currently leased to 17 tenants at 91.15% occupancy. The complex boasts a strong net operating income (NOI) of $201,402, with a pro-forma NOI projected at $343,143 after lease stabilization and rent increases. The asking price is $2,475,000, representing a current cap rate of 8.14% and a pro-forma cap rate of 13.86%. Leases are gross, with built-in 3% annual rent bumps. The property includes 55 parking spaces and features 14-foot ceilings, roll-up doors, and evaporative coolers and heaters. Units range from 980 to 6,000 square feet, averaging 2,270 square feet, and offer flexible configurations suitable for various uses, including office/showroom, shop, and warehouse space. The property benefits from excellent visibility and convenient access to Highway 99. The zoning is Commercial Service, and the property is well-maintained with ample yard space. This investment offers significant upside potential through lease-up of vacant units and market rent adjustments. The property's strong tenant base, low maintenance requirements, and prime location make it an attractive opportunity for investors seeking substantial returns.

Location Insight

City

Madera

County

Madera

State

California

Latitude

36.9647

Longitude

-120.062

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