Current Use by Public Records
- Adrian's Auto Body Shop / Auto Repair Shop
- Smog Check / Sustainability Organization
- Sinai Auto Repair. / Auto Repair Shop
Property Details for 401 E St
- Year built
- 1977
- Lot size
- 1.83 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional value-add investment opportunity presents a 44,165 square foot multi-tenant industrial complex situated on 1.83 acres in Madera, California. The property, comprised of six single-story buildings constructed in 1977 and renovated in 2023, features 20 units currently leased to 17 tenants at 91.15% occupancy. The complex boasts a strong net operating income (NOI) of $201,402, with a pro-forma NOI projected at $343,143 after lease stabilization and rent increases. The asking price is $2,475,000, representing a current cap rate of 8.14% and a pro-forma cap rate of 13.86%. Leases are gross, with built-in 3% annual rent bumps. The property includes 55 parking spaces and features 14-foot ceilings, roll-up doors, and evaporative coolers and heaters. Units range from 980 to 6,000 square feet, averaging 2,270 square feet, and offer flexible configurations suitable for various uses, including office/showroom, shop, and warehouse space. The property benefits from excellent visibility and convenient access to Highway 99. The zoning is Commercial Service, and the property is well-maintained with ample yard space. This investment offers significant upside potential through lease-up of vacant units and market rent adjustments. The property's strong tenant base, low maintenance requirements, and prime location make it an attractive opportunity for investors seeking substantial returns.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Madera
- County
- Madera
- State
- California
- Longitude
- -120.062
- Latitude
- 36.9647
