Remodeled Cannabis Retail
For Sale
Contact for pricing
Pending
426 McHenry Ave, Modesto, CA 95354
Fully remodeled retail building permitted for cannabis sales and leased to CV Wellness, LLC on a five-year term.
Property SizeContact for details
Days on Market134
Property Features for 426 McHenry Ave
General Information
Standard status
Pending
Property subtype
Retail
Additional Details
Cap Rate
8%
Building Details
Year Renovated
2019
Listing Agency:
PMZ Commercial
Listed By:
Randy High Jr · License #CA 01238404
Source:
Crexi
Added: Apr 11
Changed: Aug 16
Last Checked: Aug 22 at 12:39PM
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 PMZ Commercial
Investment Insights
Based on property information with market context.
426 McHenry Avenue is a retail building fully permitted for the sales of cannabis products. The property is leased to CV Wellness, LLC on a five (5) year term with a three (3) year option. Annual rent is $132,000 and is subject to increases to the greater of 2% per annum or CPI San Francisco Bay Area. The entire building was fully remodeled in 2019 with modern interior finishes.
The offering includes the building at an 8% capitalization rate. The remarks indicate that the existing rents are under market for the cannabis industry, which is presented as supporting above market return based on the stated capitalization rate.
The offering includes the building at an 8% capitalization rate. The remarks indicate that the existing rents are under market for the cannabis industry, which is presented as supporting above market return based on the stated capitalization rate.
Key Highlights
- Fully remodeled retail building completed in 2019
- Permitted for the sales of cannabis products
- Leased to CV Wellness, LLC on a 5‑year term with a 3‑year option
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 45%
Hotels & Casinos 6%
Mister Car Wash
Shops & Services
16,366 visits/mo
0.1 miles
Starbucks
Dining
10,587 visits/mo
0.5 miles
7-Eleven
Shops & Services
10,270 visits/mo
0.0 miles
Jack in the Box
Dining
10,233 visits/mo
0.4 miles
Denny's
Dining
6,667 visits/mo
0.4 miles
Demographics for 95354, CA
26,765
Population
9,797
Households
2.7
Avg Household Size
36
Median Age
17%
College-Educated
80%
High-School Grad
7.7 sq mi
ZIP Area
3,476
Density / Sq Mi
$65,643
Median Household Income
$42,126
Median Earnings
$1,463
Median Rent
$360,300
Median Home Value
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 space - Fully remodeled retail building permitted for cannabis sales and leased to CV Wellness, LLC on a five-year term.
Where is this retail space located?
The property is located at 426 McHenry Ave Modesto, CA.
What are key features of this property?
This property features: Fully remodeled retail building completed in 2019; Permitted for the sales of cannabis products; Leased to CV Wellness, LLC on a 5‑year term with a 3‑year option
