NNN Retail Furniture
3500 Sisk Rd Modesto, CA 95356
For Sale
Contact for pricing
17,995 SF La-Z-Boy facility offered via absolute NNN sale-leaseback with a corporate-guaranteed lease.
Property Size17,995 SF
Price / SF$296.36
Days on Market62
Property Features for 3500 Sisk Rd
General Information
Standard status
Active
Size
17,995 SF
Property subtype
RETAIL
Listing Agency:
CP Partners
(415) 274-2712
Listed By:
William Nicholas · License #01848816
(973) 945-2973
Source:
Moodyscre
Added: May 29
Changed: Jul 25
Last Checked: Jul 28 at 4:01PM
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 CP Partners
Investment Insights
Based on property information with market context.
Absolute NNN sale-leaseback offering a 17,995 SF La-Z-Boy facility under a corporate-guaranteed lease structure requiring zero landlord maintenance or expense responsibility. Lease terms call for 10% rent increases every five years, along with two additional 5-year renewal options.
The property is positioned on Sisk Rd near Vintage Faire Mall and is described as having high visibility along State Route 99, with traffic counts exceeding 117,000 VPD. Performance metrics cited include over 20,300 visits over the last 12 months and a ranking in the 79th percentile (top 21%) of La-Z-Boy stores nationally, per Placer.ai.
The asset is presented as part of an “internet-resistant” furniture showroom model, supported by a long-standing, nationwide brand. Surrounding retailers named in the materials include Costco, Target, Kohl’s, and Walmart.
The property is positioned on Sisk Rd near Vintage Faire Mall and is described as having high visibility along State Route 99, with traffic counts exceeding 117,000 VPD. Performance metrics cited include over 20,300 visits over the last 12 months and a ranking in the 79th percentile (top 21%) of La-Z-Boy stores nationally, per Placer.ai.
The asset is presented as part of an “internet-resistant” furniture showroom model, supported by a long-standing, nationwide brand. Surrounding retailers named in the materials include Costco, Target, Kohl’s, and Walmart.
Key Highlights
- 17,995 SF La‑Z‑Boy facility offered via absolute NNN sale‑leaseback
- Corporate‑guaranteed lease with zero landlord maintenance or expense responsibility
- Lease terms include 10% rent increases every five years and two 5‑year renewal options
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $423.2k | $23.52 |
| − Vacancy | −$24.5k | −$1.36 |
| EGI | $398.7k | $22.16 |
| − OpEx | −$119.6k | −$6.65 |
| NOI | $279.1k | $15.51 |
17,995 SF · lease $23.52/SF/yr · vacancy 5.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.99M
$3.49M – $4.65M
NOI $279,086 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.05M
$5.29M – $7.05M
NOI $423,242 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - 17,995 SF La-Z-Boy facility offered via absolute NNN sale-leaseback with a corporate-guaranteed lease.
Where is this retail space located?
The property is located at 3500 Sisk Rd Modesto, CA.
What is the asking price?
The asking price for this property is $5,333,000.
What are key features of this property?
This property features: 17,995 SF La‑Z‑Boy facility offered via absolute NNN sale‑leaseback; Corporate‑guaranteed lease with zero landlord maintenance or expense responsibility; Lease terms include 10% rent increases every five years and two 5‑year renewal options
