Price Reduction
Address
1124 12th Street, Modesto, CA
Price
$ 4,200,000
Property Attributes
- MLS#223042884
- TypeCommercial
- CountySTANISLAUS
- CityModesto
- AreaModesto
- Zip95354
- StyleOffice
- Price$ 4,200,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage25890
- Lot Size1.04 Acres
Data Source:
MetroList MLS
Property Description
This is a downtown single-tenant investment opportunity that's leased to Stanislaus County's Behavioral Health and Recovery Services. This is a brand new, government-backed 10-year lease. The opportunity offers secure, stable return in a prime Downtown Modesto location. This property spans across 1.04 acres of land and offers a rentable area of 25,890 SF, making it an attractive option for tenants looking for ample space for business operations and parking. Additionally, the property underwent renovations in 2022, which means that it is equipped with modern amenities and state-of-the-art facilities. **The Price Reduction reflects a Current Cap Rate of 8.01%%**
| Price History | |
|---|---|
| 5/15/2023 | Listed $5,435,000 |
| 6/6/2023 | 4% - $5,250,000 |
| 9/28/2023 | 3% - $5,100,000 |
| 11/14/2023 | 4% - $4,935,000 |
| 1/11/2024 | 6% - $4,650,000 |
| 4/3/2024 | 4% - $4,500,000 |
| 4/25/2024 | 7% - $4,200,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central |
| Cooling | Central |
| Utilities | Separate Gas Meter,Separate Water Meter |
| Roof | Flat,Tile |
| Construction Materials | Frame,Stucco |
| Year Built | 1980 |
| Electric | Separate Electric Meter |
| Tenant Pays | Sewer,Electricity,Gas,Trash Collection,Water,Janitorial Services |
| Stories | 2 |
| Loading | None |
| Property SubType | Office |
| Location | Downtown |
| Business Type | Commercial,Other |
| County | Stanislaus |
| Property Type | CommercialSale |
| Building Features | Meeting Facilities,Other Restroom Facilities,Dumpster,Landscaping |
| Close Price | 0.0 |
| Status | Active |
| Directions | West on Needham St,Left on L St,Left on 12th St |
| City | Modesto |
| Buyer Agent Compensation | 2 |
| Zoning Description | UGD |
| Total Units | 1 |
| MLS Area | 20108 |
| Lot Size Square Feet | 45302.0 |
| Street Name | 12th |
| Ok to Lease | 6-10 Years |
| Standard Status | Active |
| Year Built Source | Assessor Agent-Fill |
| Buyer Agent Compensation Type | Percent |
Interior Features
| Flooring | Vinyl |
|---|---|
| Total Stories | 2 |
| Street Suffix | Street |
Exterior Features
| Parking Features | Exclusive |
|---|---|
| Water Source | Public |
| Total Parking | 0.0 |
| Number of Buildings | 1 |
| Building Area Total | 25890.0 |
| Lot Size Acres | 1.04 |
| Lot Size Source | Assessor Agent-Fill |
| Parking Ratio | 0.0 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 95354
Price
Visits
Year Built
Walkscore
All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data maintained by MetroList© may not reflect all real estate activity in the market.
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MetroList CA data last updated: April 28, 2024 4:58 AM UTC 