401-405 Downey Ave
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401-405 Downey Ave
4,170 SF 100% Leased Retail Building Modesto, CA 95354 $800,000 ($192/SF) 7.97% Cap Rate
Investment Highlights
- Mixed Use Commercial Property
- Excellent High Traffic Location
- Owner Occupy Plus Rental Income
- Off Street Parking
Executive Summary
Welcome to 405 Downey Ave, home to the well known Bauhaus Restaurant. This is mixed use commercial property featuring units occupied by a restaurant, a salon, 2bed 1 bath apartment, and a spacious 1 bed 1 bath apartment. Salon is aproximately 2,100sf, restaurant is roughly 900sf, and the apartments are roughly 1,310sf combined.
Bauhaus will be doing a 5 year lease at $2,000 per month. Lease to be executed during escrow with seller. Salon has recently signed a 3 year lease extension. 1 bedroom apartment has a long term tenant. 2bedroom apartment will be vacant at close of escrow if desired by buyer.
Property is well located fronting the high traffic intersection of Scenic and Burney. High visibility and desirability for your tenants
Bauhaus will be doing a 5 year lease at $2,000 per month. Lease to be executed during escrow with seller. Salon has recently signed a 3 year lease extension. 1 bedroom apartment has a long term tenant. 2bedroom apartment will be vacant at close of escrow if desired by buyer.
Property is well located fronting the high traffic intersection of Scenic and Burney. High visibility and desirability for your tenants
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,170 SF
Building Class
B
Year Built
1921
Price
$800,000
Price Per SF
$192
Cap Rate
7.97%
NOI
$63,758
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.53
Lot Size
0.18 AC
Zoning
N/Av, Modesto
Parking
10 Spaces (2.4 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (89)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 111-08-66 | Improvements Assessment | $346,800 |
| Land Assessment | $112,200 | Total Assessment | $459,000 |
PROPERTY TAXES
Parcel Number
111-08-66
Land Assessment
$112,200
Improvements Assessment
$346,800
Total Assessment
$459,000
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401-405 Downey Ave
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