401 Downey Ave Modesto, CA 95354

Property Details for 401 Downey Ave

Property size

4,170 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional mixed-use property in desirable downtown Modesto, CA, presents a lucrative investment opportunity. Located at 405 Downey Ave, this 4,170 square foot shopping center sits on a 9,120 square foot lot and boasts a strong 7.18% capitalization rate. The property comprises a well-established restaurant (Bauhaus) with a new 5-year lease at $2,000 per month (to be executed during escrow), a salon with a recently extended 3-year lease, and two apartments – a one-bedroom unit with a long-term tenant and a two-bedroom unit with a seller-financed sale-leaseback at $1,700 per month. The restaurant occupies approximately 760 square feet, the salon approximately 2,100 square feet, and the apartments combine for roughly 1,310 square feet. The asking price is $800,000, translating to $191.85 per square foot. This prime location at the high-traffic intersection of Scenic and Burney offers excellent visibility and desirability, making it an ideal investment for both business owners and tenants. Ample parking is available on-site. The property's strong tenant base and favorable lease terms provide a stable income stream and significant potential for future growth. This is a rare opportunity to acquire a well-positioned mixed-use property in a thriving downtown area. The property is zoned for mixed-use commercial.