310 Mchenry AveModesto, CA 95354

  • Retail space
  • 10,096 SF
For Sale
$2,500,000 View listing

Property Details for 310 Mchenry Ave

Year built
1956
Construction
TILT-UP CONCRETE
Lot size
0.43 AC
Property size (Sq ft)
10,096 SF
Zone code
C2
Property type
Retail space
APN
111-005-071-000
APU
111005071000

Description

This exceptional Modesto, CA retail property presents a compelling value-add investment opportunity. Located at 310 McHenry Ave, this 10,096 square foot storefront sits on a 0.43-acre lot with approximately 148 feet of frontage on McHenry Avenue, near the Five Points Intersection and Downtown Modesto. The single-story, 1956-built Class C building is currently 100% occupied by four tenants under a gross lease structure. Note that there are no credit ratings available for the tenants. The property features a second-floor mezzanine providing additional space, ideal for storage. Recent improvements include the installation of two HVAC units for the central space and a parking lot resurfacing within the last three years. The property boasts 15 on-site parking spaces and is zoned C-2, offering potential for redevelopment. The asking price is $2,500,000, translating to $247.62 per square foot. This prime location and the potential for future development make this a rare opportunity for investors seeking significant returns. The property's APN is 111-005-071-000. This is a multi-tenant property with month-to-month or lease tenancies.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $4,381,892
    6.5%
    $4,044,823
    7%
    $3,755,907
  • Comparable approach

    Method
    Valuation
    Relative Method
    $7,096,006
    Geo Method
    $7,096,006
  • Alternative Use

    Use
    Valuation
    Residential
    $3,411,960
    Hospitality
    $3,125,336
    Educational
    $2,600,243
    Medical
    $2,689,670
    Retail
    $4,044,823

Location Insight

City
Modesto
County
Stanislaus
State
California
Latitude
37.6485
Longitude
-120.993
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
$6,534
$274,651
$298,799
$573,450
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-
-
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