1800 Prescott Rd Modesto, CA 95350
- Super regional malls
- 5,600 SF
- 0.53 lot acres
Current Use by Public Records
- California Check Cashing Stores / Financial Institution / Loan Agency
- Taco Bell / Mexican Restaurant / Restaurant
- McDonald's / Fast Food Restaurant / Restaurant
- Bottoms Up Espresso / Coffee Shop / Espresso Bar
- La Michoacana Premium / Ice Cream Shop
Property Details for 1800 Prescott Rd
- Year built
- 1974
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.53 lot acres
- Property size
- 5,600 SF
- Property type
- Super regional malls
- APN
- 060-022-009-000
- APU
- 60022009000
Description
Briggsmore Plaza, a 53,079 square foot, Class B shopping center in Modesto, CA, presents a compelling investment opportunity. This 100% occupied, multi-tenant property boasts a 7.15% cap rate and a strong NOI of $513,574. The property features three tenants, including In-Shape Family Fitness, with leases extending to December 31, 2030, offering a remaining term of 6.1 years. Built in 1974 and renovated in 2018, the single-story building sits on a 5.06-acre lot zoned P-D (Planned Development). The property benefits from a high-traffic location with daily counts exceeding 50,000 vehicles on Briggsmore Avenue and 24,000 on Prescott Road, enhanced by a signalized intersection with eight points of access. The strong demographics include a 5-mile population density of 224,319 with an average household income of $109,455. Two pylon signs provide excellent visibility. The asking price is $7,185,000, translating to $135.36 per square foot. Lease details, including rent bumps and three 5-year lease options, are available in the brochure. This is a Net Lease (NNN) investment with a lease commencement date of January 21, 2005. The property's location is 1800 Prescott Road, Modesto, CA 95350, within a retail corridor near Highway 99 and other established shopping centers.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $495,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $495,000
- 6.5%
- $485,000
- 7%
- $530,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $565,000
- Geo Method
- $520,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $490,000
- Retail
- $685,000
- Mixed-Use
- $560,000
- Hospitality
- $580,000
- Educational
- $575,000
- Residential Income
- $525,000
- Energy
- $620,000
- Income-Based Land
- $495,000
- Food Service
- $525,000
Location Insight
- Map
- Local Demand
- City
- Modesto
- County
- Stanislaus
- State
- California
- Longitude
- -121.029
- Latitude
- 37.6719
- CBSA code
- 33700
- CBSA name
- MODESTO, CA METROPOLITAN STATISTICAL AREA
