1524 Richland AveCeres, CA 95307
- Healthcare properties
- 3,873 SF
Property Details for 1524 Richland Ave
- Year built
- 2017
- Construction
- WOOD
- Lot size
- 0.42 AC
- Property size (Sq ft)
- 3,873 SF
- Zone code
- PC
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 040-086-085-000
- APU
- 40086085000
Description
This exceptional investment opportunity presents a ±3,873 square foot free-standing commercial building in Ceres, CA, leased to Western Dental under a corporate-guaranteed Net Lease. Built in 2018, the property boasts 100% occupancy and benefits from a strong location at the signalized intersection of Hatch Road and Richland Avenue, enjoying high visibility and traffic counts exceeding 36,700 ADT. The lease features a 6.00% cap rate and includes four 5-year options with 10% rent bumps. The tenant, Western Dental, is a significant national brand with over 560 locations across 20 states, providing exceptional financial stability and security. The 0.42-acre lot houses a building ideally suited for its current use as a medical office, gas station, or QSR/fast food establishment. The lease expires April 30, 2028, offering a substantial holding period for investors. This is a rare opportunity to acquire a stable, high-performing net-leased asset with significant upside potential. The property's modern construction and prime location ensure long-term value and consistent cash flow. The asking price is $1,835,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,143,516
- 6.5%
- $1,055,554
- 7%
- $980,157
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,080,218
- Geo Method
- $1,080,218
-
Alternative Use
- Use
- Valuation
- Residential
- $1,308,887
- Hospitality
- $1,198,933
- Educational
- $997,498
- Medical
- $1,031,804
- Retail
- $1,551,664
Location Insight
- City
- Ceres
- County
- Stanislaus
- State
- California
- Latitude
- 37.6085
- Longitude
- -120.966
- CBSA code
- 33700
- CBSA name
- MODESTO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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