Gregory Gardens
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Gregory Gardens
3 Retail Properties Offered at $12,500,000 in Modesto, CA
Investment Highlights
- The property consists of eight (8) retail structures totaling 86,850 SF on 6.2 acres
- 100% occupied to Twenty-Three (23) Tenants (Dollar General, Verizon & Subway), this provides consistent income and longer stable occupancy.
- Located off Hwy 99 on the corner of Tully Road and Bowen Ave with a signalized corner (24,464 cars per day).
- Comprised of a mix of local service retail uses that are highly insulated from internet competition.
- Property has no existing debt and can be delivered free and clear. This offers potential buyer a clean slate to structure most ideal capital.
- Residential Opportunity: Modesto zoning code, allows Townhome development with approved Conditional Use Permit (11 to 29 units per acre).
Executive Summary
Gregory Gardens is comprised of Eight (8) buildings totaling 86,850 square feet situated on 6.2 acres with Twenty Three (23) tenants. The Gregory Gardens is anchored with a national credit tenant, Dollar General, which activates the retail center with excellent synergies amongst the existing tenants which fully take advantage of the big, shared parking throughout the shoppes. The mix of tenants truly is a one stop shop when it comes to neighbor retail uses.
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- Market Information
Property Facts
| Price | $12,500,000 | Status | Escrow |
| Price / SF | $143.93 / SF | Number of Properties | 3 |
| Sale Conditions | 1031 Exchange | Individually For Sale | 0 |
| Cap Rate | 8.08% | Total Building Size | 86,850 SF |
| Sale Type | Investment NNN | Total Land Area | 6.20 AC |
| Price | $12,500,000 |
| Price / SF | $143.93 / SF |
| Sale Conditions | 1031 Exchange |
| Cap Rate | 8.08% |
| Sale Type | Investment NNN |
| Status | Escrow |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 86,850 SF |
| Total Land Area | 6.20 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2037-2055 Tully Rd, Modesto, CA 95350 | Retail | 35,765 SF | 1959 | - |
| 2057 Tully Rd, Modesto, CA 95350 | Retail | 4,055 SF | 1959 | - |
| 2001-2023 Tully Rd, Modesto, CA 95350 | Retail | 47,030 SF | 1959 | - |
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Gregory Gardens
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