Updated Oct 29, 2024
Hanley Investment Group Sells Modesto Retail Building For $4.11M
3601 Pelandale Ave Modesto, CA 95356, USA
$4,110,000
$642/SF
Building Size
6,402 SF
Asset Type
Retail
Closing
Jul 31, 2023
About this deal
AI
A 6,402 sq-ft multi-tenant retail building located at 3601 Pelandale Avenue in Modesto has been sold for $4.11 million to a local private investor. The property, which includes tenants such as Pacific Dental Services and Mountain Mike's Pizza, offers a promising investment opportunity in the Modesto market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,110,000
- Square Footage: 6,402 sq-ft
- Address: 3601 Pelandale Avenue
- Market: Modesto
- Seller: Covenant Real Estate Group
- Brokers: Jeff Lefko & Bill Asher - Hanley Investment Group Real Estate Advisors
Hanley Investment Group, represented by Jeff Lefko and Bill Asher, facilitated the transaction, demonstrating their expertise in the Modesto retail market. With their guidance, the property was successfully sold to a local private investor, ensuring a smooth and profitable deal for all parties involved.
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Jeff Lefko to view all their deals.
Browse Los Angeles retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.86%
Cash-on-Cash
-1.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93