355 Las Palmas AvePatterson, CA 95363

Property Details for 355 Las Palmas Ave

Year built

1921

Construction

WOOD

Lot size

0.12 AC

Property size (Sq ft)

3,484 SF

Property type

Office properties

APN

131-014-028-000

APU

131014028000

Description

This exceptional 3,484 square foot commercial property, located at 355 W Las Palmas Avenue in Patterson, CA, presents a unique investment opportunity. The Carnegie Building, a stunning example of Classical Revival architecture with stucco over brick exterior, sits on a 0.13-acre lot in the heart of downtown Patterson. Its central location within the downtown core offers unparalleled visibility and accessibility, ensuring high traffic and easy access for clients and employees. The building's interior comprises six individual offices, ideal for businesses requiring both private workspaces and collaborative areas, along with a central conference room perfect for meetings and presentations. The City of Patterson is experiencing significant growth, with a planned annexation adding 5086 new residential units. This expansion promises a substantial increase in the local population and a corresponding rise in demand for commercial services, making this property an exceptionally promising investment. The asking price is $875,000. This is a rare chance to acquire a piece of Patterson's history and benefit from its exciting future. Don't miss this opportunity to secure a thriving business location in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,028,663

  6.5%

  $949,535

  7%

  $881,711

• Comparable approach

  Method

  Valuation

  Relative Method

  $971,722

  Geo Method

  $971,722

• Alternative Use

  Use

  Valuation

  Residential

  $1,177,423

  Hospitality

  $1,078,514

  Educational

  $897,311

  Medical

  $928,170

  Retail

  $1,395,816

Location Insight

City

Patterson

County

Stanislaus

State

California

Latitude

37.471

Longitude

-121.132

CBSA code

33700

CBSA name

MODESTO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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