153 Santa Cruz AveModesto, CA 95354

Property Details for 153 Santa Cruz Ave

Year built

1967

Construction

WOOD

Lot size

0.51 AC

Property size (Sq ft)

3,240 SF

Property type

Retail properties

Property subtype

Retail space

APN

035-003-040-000

APU

35003040000

Description

This exceptional 3,240 square foot commercial property located at 153 S Santa Cruz Avenue in Modesto, California, presents a unique investment opportunity. Situated on a 0.52-acre lot, the building offers significant versatility and potential for a variety of uses. City planning has indicated a strong likelihood of approving a conditional use permit for multi-family residential development, making this an attractive option for developers seeking to capitalize on the growing housing demand. However, the property's existing features also make it ideally suited for a range of other commercial ventures. The building boasts a spacious front showroom area, perfect for showcasing products or services. Two offices provide ample space for administrative tasks, while two bathrooms cater to both employees and clients. Several tall access doors facilitate easy movement of vehicles or equipment, making it particularly well-suited for businesses such as auto repair shops, towing companies, or storage facilities. Adding to its functionality, the property includes convenient alley access and a large concrete slab at the rear, providing additional space for operations or storage. The property's prime location in Modesto offers excellent visibility and accessibility, ensuring strong potential for attracting customers and clients. This versatile property represents a rare opportunity to acquire a substantial commercial building with multiple development possibilities in a thriving California market. The asking price is $348,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,406,233

  6.5%

  $1,298,061

  7%

  $1,205,342

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,277,244

  Geo Method

  $2,277,244

• Alternative Use

  Use

  Valuation

  Residential

  $1,094,963

  Hospitality

  $1,002,980

  Educational

  $834,468

  Medical

  $863,167

  Retail

  $1,298,061

Location Insight

City

Modesto

County

Stanislaus

State

California

Latitude

37.6374

Longitude

-120.975

CBSA code

33700

CBSA name

MODESTO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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