1400 Glenwood Ave Turlock, CA 95380-5747

This 2,300 sq ft warehouse in Turlock, CA, presents a compelling owner-user opportunity. Located at 1400 W Glenwood Ave, this single-story, 1975-built building sits on a 1.12-acre lot (APN 050-010-054-000) and boasts recent renovations completed 3 months ago, including new asphalt paving and three new electrical posts. The property includes an adjacent parcel adding nearly 7,200 sq ft. Currently 100% occupied with a modified lease expiring August 31, 2024, at $5,500/month, the potential rental income is $7,500/month. The current NOI is $60,000, with a pro-forma NOI of $84,000, resulting in a 6.32% cap rate and a pro-forma cap rate of 8.84%. The property is zoned for industrial use (C1 and C2) and has city and fire department permits in effect until 2025. The manufacturing business license is also renewable. $280,000 in upgrades were recently completed. Buyer to verify zoning and permits. This move-in ready property offers significant upside potential for an industrial business. The asking price is $950,000, with a price per square foot of $413.04. Pavement grading is awaiting final public works review.