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421 Maze Blvd, Modesto, CA 95351
Conventional restaurants
Property Size2,080 SF
Lot Size0.32 Acres
Price / SF$240.38
Days on Market770
Property Features for 421 Maze Blvd
General Information
Standard status
Active
Size
2,080 SF
Lot size
0.32 Acres
Property subtype
Retail
Zoning
C-2
Building Details
Year Built
1947
Listing Agency:
Mountain Valley Properties
(209) 505-9891
Listed By:
Kanwarbir Chima · License #DRE#02026413
Source:
Crexi
Added: Jul 6, 2024
Changed: Aug 13
Last Checked: Aug 13 at 12:05PM
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 Mountain Valley Properties
Investment Insights
Based on property information with market context.
Key Highlights
- Prime location near downtown Modesto with high traffic.
- Spacious 2,086 sq ft building on a 0.32‑acre lot.
- Approximately 25 parking spots and easy access to CA‑99 (under 0.7 miles).
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
$35,381
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
7.08%
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%
$707,620
$707.6K
Cap Rate 7%
$505,443
$505.4K
Cap Rate 9%
$393,122
$393.1K
Market Conditions
NOI Build-Up for 2,080 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
$49.9K $24.00/SF
− Vacancy
−$2.7K −$1.32/SF
EGI
$47.2K $22.68/SF
− OpEx
−$11.8K −$5.67/SF
NOI
$35.4K $17.01/SF
Area
Modesto, CA
Vacancy
5.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$707,620
Cap Rate 7%
$505,443
Cap Rate 9%
$393,122
Alternative Uses
Best Use
Specialty Retail
$505.4K
$442.3K – $589.7K
NOI $35,381 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.9K
$611.5K – $815.4K
NOI $48,922 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
Taco Bell
Dining
11,928 visits/mo
0.5 miles
Dollar General
Shops & Services
8,487 visits/mo
0.4 miles
KFC
Dining
6,614 visits/mo
0.5 miles
Maaco
Shops & Services
349 visits/mo
0.5 miles
Demographics for 95351, CA
48,668
Population
13,631
Households
3.6
Avg Household Size
32
Median Age
8%
College-Educated
63%
High-School Grad
8.9 sq mi
ZIP Area
5,468
Density / Sq Mi
$56,869
Median Household Income
$31,732
Median Earnings
$1,376
Median Rent
$315,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
Where is this conventional restaurant located?
The property is located at 421 Maze Blvd Modesto, CA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Prime location near downtown Modesto with high traffic.; Spacious 2,086 sq ft building on a 0.32‑acre lot.; Approximately 25 parking spots and easy access to CA‑99 (under 0.7 miles).
