Retail Property on Mchenry
For Sale
Contact for pricing
1009-1021 Mchenry Ave, Modesto, CA
Retail property available for sale on Mchenry Avenue.
Property Size27,000 SF
Lot Size1.56 Acres
Price / SF$175
Days on Market263
Property Features for 1009-1021 Mchenry Ave
General Information
Standard status
Active
Size
27,000 SF
Lot size
1.56 Acres
Property subtype
RETAIL
Listing Agency:
NAI Northern California
(209) 518-9025
Listed By:
Joshua Ballesteros · License #02010271
(209) 518-9025
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 10
Last Checked: Aug 14 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Northern California
Investment Insights
Based on property information with market context.
A retail property is available for sale. The property has a size of 27000 square feet and is located on Mchenry Avenue in Modesto, California.
Key Highlights
- Retail property
- Available for sale
- Located on Mchenry Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$418,745
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,374,900
$8.4M
Cap Rate 7%
$5,982,071
$6.0M
Cap Rate 9%
$4,652,722
$4.7M
Market Conditions
NOI Build-Up for 27,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$635.0K $23.52/SF
− Vacancy
−$36.8K −$1.36/SF
EGI
$598.2K $22.16/SF
− OpEx
−$179.5K −$6.65/SF
NOI
$418.7K $15.51/SF
Area
Modesto, CA
Vacancy
5.80%
Lease Rate
$23.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,374,900
Cap Rate 7%
$5,982,071
Cap Rate 9%
$4,652,722
Alternative Uses
Best Use
Retail
$5.98M
$5.23M – $6.98M
NOI $418,745 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.07M
$7.94M – $10.58M
NOI $635,040 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,649
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 37%
Hotels & Casinos 9%
Home Improvements & Furnishings 5%
SONIC Drive In
Dining
15,822 visits/mo
0.4 miles
Wendy's
Dining
15,183 visits/mo
0.5 miles
Chevron
Shops & Services
14,056 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
7,258 visits/mo
0.3 miles
Tiki Lodge Hotel
Hotels & Casinos
3,792 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property available for sale on Mchenry Avenue.
Where is this retail property located?
The property is located at 1009-1021 Mchenry Ave Modesto, CA.
What is the asking price?
The asking price for this property is $4,725,000.
What are key features of this property?
This property features: Retail property; Available for sale; Located on Mchenry Avenue
