1541 Florida AveModesto, CA 95350

Property Details for 1541 Florida Ave

Year built

1991

Construction

STEEL FRAME

Lot size

1.95 AC

Property size (Sq ft)

62,280 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

119-009-031-000

APU

119009031000

Description

This exceptional medical office building in Stanislaus County offers a unique investment opportunity. The 54,810 square foot property sits on 1.95 acres and is ideally located on the Doctors Medical Center campus, the only medical office building on this landlocked campus. Currently, the building boasts a diverse tenancy with multiple synergistic tenants, achieving 100% occupancy. Two spaces are immediately available, ranging from 1,937 to 4,325 square feet, providing flexibility for various medical practices. The building benefits from a strong anchor tenant, a leading physician group affiliated with Tenet HealthCare, secured by a lease with over 12.5 years remaining. Significant recent capital improvements exceeding $823,000 have been completed, ensuring the property's modern appeal and functionality. The minimum divisible space is 1,937 square feet, making it suitable for a range of medical professionals. This presents a rare chance to acquire a well-maintained, high-performing medical office building in a desirable location with a stable tenant base and long-term lease potential. The property's strategic location and strong occupancy make it an attractive investment for discerning buyers seeking a stable and growing asset in the healthcare sector. The current vacancy is 4,325 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $18,388,382

  6.5%

  $16,973,892

  7%

  $15,761,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,370,514

  Geo Method

  $17,370,514

• Alternative Use

  Use

  Valuation

  Residential

  $21,047,626

  Hospitality

  $19,279,512

  Educational

  $16,040,328

  Medical

  $16,591,979

  Retail

  $24,951,622

Location Insight

City

Modesto

County

Stanislaus

State

California

Latitude

37.6669

Longitude

-120.997

CBSA code

33700

CBSA name

MODESTO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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