514 2Nd StPatterson, CA 95363

Property Details for 514 2Nd St

Year built

1995

Construction

WOOD

Lot size

0.48 AC

Property size (Sq ft)

1,097 SF

Zone code

PC

Property type

Retail properties

Property subtype

Retail space

APN

131-011-027-000

APU

131011027000

Description

This exceptional 0.48-acre commercial lot, located at 514 N 2nd Street in Patterson, CA, presents a unique investment opportunity. The property boasts 20,751 square feet of land with Highway 33 frontage, ensuring high visibility and significant daily traffic. According to CalTrans data, the Average Daily Traffic Count is 6,900 vehicles. The existing 1,304 square foot building suffered a recent fire and requires significant attention or demolition. This presents a blank canvas for a new development, tailored to the needs of a wide range of businesses. The property's location within an Opportunity Zone offers substantial tax advantages and incentive programs for investors. The surrounding area is experiencing rapid growth, with a planned annexation adding over 5,000 new homes, creating a strong potential customer base. The general commercial zoning allows for diverse uses, including restaurants and professional offices. This prime location near medical offices and the downtown area guarantees high foot traffic and visibility, making it an ideal site for businesses seeking to thrive in a dynamic and expanding market. The combination of high traffic, Opportunity Zone status, and Patterson's growth trajectory makes this a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $476,123

  6.5%

  $439,498

  7%

  $408,105

• Comparable approach

  Method

  Valuation

  Relative Method

  $771,030

  Geo Method

  $771,030

• Alternative Use

  Use

  Valuation

  Residential

  $370,733

  Hospitality

  $339,589

  Educational

  $282,534

  Medical

  $292,251

  Retail

  $439,498

Location Insight

City

Patterson

County

Stanislaus

State

California

Latitude

37.4782

Longitude

-121.134

CBSA code

33700

CBSA name

MODESTO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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