965 Lander AveTurlock, CA 95380

Property Details for 965 Lander Ave

Year built

1974

Construction

TILT-UP CONCRETE

Lot size

2.19 AC

Property size (Sq ft)

23,722 SF

Property type

Grocery and convenience stores

APN

050-014-042-000

APU

50014042000

Description

This exceptional 18,900 square foot senior living facility in Turlock, California, presents a compelling investment opportunity. Located at 965 Lander Ave, 95380, within Stanislaus County, this two-story building sits on a 1.53-acre lot and boasts 60 beds. Constructed in 1983, the property offers significant potential for expansion, with the capacity to increase the number of independent living units to up to 80. The current asking price is $3,395,000, translating to a price per square foot of $179.63. The property's strong financial performance is highlighted by a pro-forma net operating income (NOI) of $645,000 and an attractive pro-forma capitalization rate of 19.00%. Furthermore, the property includes 12 hospice waivers, adding to its value and operational flexibility. This property is ideal for owner-users or institutional investors seeking a high-yield asset with substantial upside potential in a growing market. The property's location in Turlock, CA offers convenient access to local amenities and services. This is a rare opportunity to acquire a well-established senior living facility with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $10,295,882

  6.5%

  $9,503,891

  7%

  $8,825,042

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,673,084

  Geo Method

  $16,673,084

• Alternative Use

  Use

  Valuation

  Residential

  $8,016,888

  Hospitality

  $7,343,426

  Educational

  $6,109,644

  Medical

  $6,319,764

  Retail

  $9,503,891

Location Insight

City

Turlock

County

Stanislaus

State

California

Latitude

37.484

Longitude

-120.85

CBSA code

33700

CBSA name

MODESTO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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