1524 Richland AveCeres, CA 95307

  • Healthcare properties
  • 3,873 SF
For Sale
$1,835,000 View listing

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
1524 Richland Ave, Ceres, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$9,646
$191,722
$649,486
$841,208
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