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Property profile

1541 Florida Ave Modesto, CA 95350

Medical Office Space
Property ID
US09-2974763
View Sample
62,280 SF 1.95 ac lot Built 1991
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional medical office building in Stanislaus County offers a unique investment opportunity. The 54,810 square foot property sits on 1.95 acres and is ideally located on the Doctors Medical Center campus, the only medical office building on this landlocked campus. Currently, the building boasts a diverse tenancy with multiple synergistic tenants, achieving 100% occupancy. Two spaces are immediately available, ranging from 1,937 to 4,325 square feet, providing flexibility for various medical practices. The building benefits from a strong anchor tenant, a leading physician group affiliated with Tenet HealthCare, secured by a lease with over 12.5 years remaining. Significant recent capital improvements exceeding $823,000 have been completed, ensuring the property's modern appeal and functionality. The minimum divisible space is 1,937 square feet, making it suitable for a range of medical professionals. This presents a rare chance to acquire a well-maintained, high-performing medical office building in a desirable location with a stable tenant base and long-term lease potential. The property's strategic location and strong occupancy make it an attractive investment for discerning buyers seeking a stable and growing asset in the healthcare sector. The current vacancy is 4,325 square feet.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1991
Construction STEEL FRAME
Total area 62,280 SF
Lot 1.95 ac (84,942 SF)
APN 119-009-031-000
UPID US09-2974763

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Group Dermatologist
  • Hospital
  • Medical Clinic
  • Std Testing Service Hiv Testing Center
  • Registered General Nurse

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$15.23M
Comparable Approach Comparable
$9.96M
Blend (final) Blend
$13.40M

Owner & transaction history

since 2018
5 recorded transactions
2018
$16.0M
2016
$9.5M
1969
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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