$800,000
$829,900
3.6%For more information regarding the value of a property, please contact us for a free consultation.
1.03 Acres Lot
SOLD DATE : 08/25/2023
Key Details
Sold Price $800,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 223067052
Sold Date 08/25/23
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1948
Lot Size 1.030 Acres
Acres 1.03
Lot Dimensions 200 X 225
Property Description
Investment property with huge future potential. 1.03 acres, 8,154sf of buildings. Currently the tenants are (1) auto sales, (2) Print shop, (3) Convenience store, (4) Pawn Shop, (5) Food Truck, (6) Phone repair shop. The rents are very low and still grossing $6,160/mth. 1 lease is month to month, 2 expire in 2027 and 3 go until 2032. Today, if rents were higher and some improvements were done... with 1 acre of commercial land... the value might be closer to $1.3M. The ideal buyer needs to be willing to wait until 2027 to start increasing rents and finally see a real return on their investment. FYI; there are vacant commercial lots with 1 acre that have sold for closer to $600,000... vacant. This one has a large building and is going for only $829,900. Some properties/buildings are offering all that they can now with hardly any room for improvement, this prop/building is opposite. It is only offering a portion of the income/return it will be able to produce later.
Location
State CA
County Stanislaus
Area 20202
Direction From the Starbucks at Yosemite Ave and Highway 108 (F Street); go south on Yosemite Ave 1.5 blocks and the property will be on the right.
Location Details Downtown
Interior
Heating Central
Cooling Central
Flooring Concrete Slab
Exterior
Parking Features Other
Utilities Available Natural Gas Connected
Water Access Desc Public
Roof Type Composition
Topography Level
Road Frontage City Street
Total Parking Spaces 46
Building
Lot Description Corner, Curbs/Gutters
Story 1
Foundation Concrete
Sewer Other
Water Public
Others
Senior Community No
Tax ID 130-004-039-000
Special Listing Condition None
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with BC Real Estate
Helping real estate be simple, fun and stress-free!