426 McHenry Ave Modesto, CA 95354

Listing agency PMZ Commercial

Listed by Randy High Jr · License #CA 01238404

Source Crexi

Added: Apr 11 Updated: Jul 22 at 6:47PM Checked: Jul 22 at 6:47PM

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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.

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

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FAQs

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