WOOD COLONY PLAZA - For Lease and Sale - 3900 Pelandale Avenue Modesto, CA 95356
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
WOOD COLONY PLAZA - For Lease and Sale
3900 Pelandale Avenue
Modesto, CA 95356
Wood Colony Plaza
Exclusively Table of Contents
Marketed By
Debi Myers Investment Summary
949-636-4501
dmyers@integrity-cre.com Investment Highlights
Lic. 01852719
Property Details
Financials
Income statement
Aerial Map
Tenant Profiles
Rent Roll
Lease Availability
Regional Map
Modesto
Photos
New Developments
Near by Locations
Sales Comparable Map
Sales Comparables
Demographics
Disclaimer
Wood Colony Plaza
Investment Summary
Price
Cap Rate 3.54%
NOI $620,020.00
Occupancy 34.41%
Building Size 134,326 SF
Price per Square Foot $130.28
Land Area 11.44 Acres
Investment Highlights
● Building 1) 134,326 SF , Building 2) 4911 SF TOTAL- 139,237 SF
VACANCY- 95,175 SF
● ACTUAL NOI-
$620,024
Value ADD -Significant Upside-Lease up,demise, re-zone potential.
Excellent access to Highway 99
Large consumer base with 107,000 people within a 3-mile radius and 230,000 people within a 5-mile radius
Above normal household income at $90,000 per household
Strong daytime traffic from nearby major Hospital and medical offices
Strong national retailers in the immediate area,
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Property Details
Address 3900 Pelandale Avenue
Modesto, California
95356
Square Footage 134,326 SF
Land Area Year 11.44 Acres
Built 1992
078-39-01, 078-39-02,
Assessors Parcel Number
078-39-05, 078-39-06, 078-39
Location:
6 Miles N of DWNTWN. Surrounded predominantly of
neighborhoods of single family homes with over 60 % ownership.
92 miles E of San Francisco, 66 miles W of Yosemite National
Park, and 24 miles S of Stockton.
Several California metropolitan areas, in particular cities that lie
on the outskirts of the Bay Area, have some of the nation’s
highest share of “super commuters.” Central valley communities
are leading the way with many residents traveling two or more
hours to and from work each day. The rapid influx of residents
seeking affordability has driven housing vacancies down to record
lows and continues to drive rents higher. Home ownership is
increasing as well
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Financial
Offering Summary
Price $17,500,000
Building Size 134,326 SF
Land Area 11.44 Acres
Number of Suites/Spaces 30
Year Built 1992
Occupancy 34.41%
Price per Square Foot $130.28
CAP Rate 3.54%
NOI $620,020
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Net Income Statement
Current Annual Proforma Annual
Income Income
REVENUES
Gross Potential Rent $726,060 $0
Effective Scheduled Rent 726,060 0
Other income 338,754
Effective Gross Income $1,064,810 $0
OPERATING EXPENSES
Total Expenses 444,790 444,790
TOTAL EXPENSES $444,790 $444,790
NET OPERATING INCOME $620,020 $-444,790
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Aerial Map
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Tenant Profiles
Logo Tenant Name
Subway
Yogurt Mill
De Angelo’s Jewelers
Grand Massage
Vicki’s Nails
Kelley’s Cutlery
Graham Chiropractic
Classic Dry Cleaners
PelandaleDental Care
Avis/Budget
Pervaiz Bhatti
Restaurant
El Rosal
Me-N-Ed’s
Pizza/Supreme/Milano
Singh Veterinarian
Hospital
Smoke Zone/Mateen
Eyebrow Threading
Postal Annex
Filomena Nault/Mena
& Co. Salon
Fosters Freeze
Poke Bowl Restaurant
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Rent Roll
Lease Terms Rental Rates
Market LL
Suite Tenant Name SF % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type T.I.s Admin
PSF/Yr Responsibilities
3900 Pelandale Ave #
Subway 1,586 1.03% Sep-2017 Aug-2024 Current $3,922 $2.47 $47,064 $29.67 Gross $0.00
50, Modesto, CA 95356
Sep-2020 $4,000 $2.52 $48,005 $30.27
Sep-2021 $4,080 $2.57 $48,965 $30.87
Sep-2022 $4,162 $2.62 $49,945 $31.49
Sep-2023 $4,245 $2.68 $50,944 $32.12
3900 Pelandale Ave # Modified
Yogurt Mill 1,800 1.17% Oct-2018 Sep-2023 Current $3,760 $2.09 $45,116 $25.06 $0.00
60, Modesto, CA 95356 Gross
Oct-2020 $3,854 $2.14 $46,242 $25.69
Oct-2021 $3,950 $2.19 $47,403 $26.34
Oct-2022 $4,050 $2.25 $48,598 $27.00
Tenant has 4 five year options remaining
3900 Pelandale Ave #
De Angelo’s Jewelers 1,525 0.99% May-2016 Apr-2022 Current $3,257 $2.14 $39,083 $25.63 Gross $0.00
70, Modesto, CA 95356
May-2020 $3,338 $2.19 $40,060 $26.27
May-2021 $3,422 $2.24 $41,062 $26.93
one Six(6) year option remaining
3900 Pelandale Ave #
Modified
105, Modesto, CA Grand Massage 1,400 0.91% Dec-2017 Nov-2022 Current $3,422 $2.44 $41,059 $29.33 $0.00
Gross
95356
Dec-2020 $3,490 $2.49 $41,880 $29.91
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356
Wood Colony Plaza
Lease Terms Rental Rates
Market LL
Suite Tenant Name SF % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type T.I.s Admin
PSF/Yr Responsibilities
Dec-2021 $3,560 $2.54 $42,719 $30.51
3900 Pelandale Ave #
1110-115, Modesto, CA Vicki’s Nails 1,940 1.26% Aug-2018 Jul-2023 Current $5,000 $2.58 $60,000 $30.93 Gross $0.00
95356
one 5 year option remaining Tenant has $150 monthly additional charge for new HVAC system until 04/01/2020
3900 Pelandale Ave
Kelley’s Cutlery 833 0.54% --- ---- --- ---- Current $1,800 $2.16 $21,600 $25.93 Gross $0.00
Suite 120
No current lease
3900 Pelandale Ave
Graham Chiropractic 1,555 1.01% Aug-2018 Jul-2020 Current $2,800 $1.80 $33,600 $21.61 Gross $0.00
Suite # 125
3900 Pelandale Ave
Classic Dry Cleaners 1,500 0.98% Sep-2016 Aug-2021 Current $3,400 $2.27 $40,800 $27.20 Gross $0.00
Suite # 130
Aug-2020 $3,500 $2.33 $42,000 $28.00
Two 5 years options remaining
3900 Pelandale Ave Modified
PelandaleDental Care 1,800 1.17% Sep-2019 Aug-2024 Current $4,837 $2.69 $58,050 $32.25 $0.00
Suite # 135 Gross
3% annual increase on Base rent, 2.5% annual increases on R.E. Taxes/ CAM One 5 year option remaining
3900 Pelandale Ave Modified
Avis/Budget 2,030 1.32% Feb-2019 Mar-2022 Current $3,654 $1.80 $43,848 $21.60 $0.00
Suite # 145 Gross
Apr-2020 $3,756 $1.85 $45,066 $22.20
Apr-2021 $3,857 $1.90 $46,284 $22.80
Two 3 year options remaining
3900 Pelandale Ave Modified
Pervaiz Bhatti Restaurant 1,400 0.91% Mar-2018 Feb-2023 Current $2,032 $1.45 $24,379 $17.41 $0.00
Suite # 150 Gross
Mar-2020 $2,064 $1.47 $24,766 $17.69
Mar-2021 $2,097 $1.50 $25,161 $17.97
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Lease Terms Rental Rates
Market LL
Suite Tenant Name SF % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type T.I.s Admin
PSF/Yr Responsibilities
Mar-2022 $2,130 $1.52 $25,563 $18.26
One 5 Year option remaining
3900 Pelandale Ave
El Rosal 22,438 14.59% Sep-2018 Aug-2021 Current $4,553 $0.20 $54,635 $2.43 Gross $0.00
Suite # 155 & 157
3900 Pelandale Ave Me-N-Ed’s Modified
2,200 1.43% --- ---- --- ---- Current $3,630 $1.65 $43,560 $19.80 $0.00
Suite # 165 & 170 Pizza/Supreme/Milano Gross
No current lease
3,900 Pelandale Ave
Vacant 2,000 1.30% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 175
3,900 Pelandale Ave
Vacant 2,000 1.30% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 180
3,900 Pelandale Ave
Vacant 44,865 29.18% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 200
3,900 Pelandale Ave
Vacant 2,000 1.30% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 300
3,900 Pelandale Ave
Singh Veterinarian Hospital 3,500 2.28% --- ---- --- ---- Current $3,000 $0.86 $36,000 $10.29 Gross $0.00
Suite # 320
No current lease
3,900 Pelandale Ave Modified
Smoke Zone/Mateen 1,000 0.65% Feb-2018 Jan-2023 Current $1,650 $1.65 $19,800 $19.80 $0.00
Suite # 405 Gross
Feb-2020 $1,750 $1.75 $21,000 $21.00
Feb-2022 $1,850 $1.85 $22,200 $22.20
One 5 year option remaining
3,900 Pelandale Ave
Vacant 1,000 0.65% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 410
3,900 Pelandale Ave Modified
Eyebrow Threading 1,000 0.65% Sep-2016 Aug-2021 Current $1,600 $1.60 $19,200 $19.20 $0.00
Suite # 415 Gross
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Lease Terms Rental Rates
Market LL
Suite Tenant Name SF % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type T.I.s Admin
PSF/Yr Responsibilities
Sep-2020 $1,650 $1.65 $19,800 $19.80
Two 3 Year options remaining
3,900 Pelandale Ave
Postal Annex 1,000 0.65% Jun-2019 May-2020 Current $1,500 $1.50 $18,000 $18.00 Gross $0.00
Suite # 420
3900 Pelandale Ave Filomena Nault/Mena & Co.
1,500 0.98% Jun-2016 May-2021 Current $1,639 $1.09 $19,669 $13.11 Gross $0.00
Suite #425 Salon
Jun-2020 $1,688 $1.13 $20,259 $13.51
3900 Pelandale Ave
Fosters Freeze 1,500 0.98% --- ---- --- ---- Current $2,250 $1.50 $27,000 $18.00 Gross $0.00
Suite # 430
No current lease
3,900 Pelandale Ave
Vacant 37,472 24.37% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 500
3,900 Pelandale Ave
Vacant 11,500 7.48% --- ---- --- ---- Vacant $0 $0.00 $0 $0.00 $0.00
Suite # 600-605
3900 Pelandale Modified
Poke Bowl Restaurant 1,400 0.91% Apr-2019 Mar-2024 Current $2,800 $2.00 $33,600 $24.00 $0.00
Ave.#100 Gross
Apr-2020 $2,940 $2.10 $35,280 $25.20
Apr-2021 $3,028 $2.16 $36,338 $25.96
Apr-2022 $3,119 $2.23 $37,429 $26.74
Apr-2023 $3,213 $2.29 $38,551 $27.54
One 5 year option remaining
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Lease Availability
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Regional Map
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Modesto
Top Employers of Modesto
Carlo Rossi Winery
City of Modesto
Copperidge Winery
Datapath
Del Monte Foods
Doctors Medical Center
Ecco Domani Winery
E&J Gallo Winery Headquarters
Foster Farms Dairy
Frito-Lay
Gallo Vineyards
Kaiser Permanente
MacDonald Group
Kaiser Permanente Memorial Medical Center
Modesto Bee - Bee Media Services
Kaiser Permanente is one of the largest nonprofit healthcare plans in the United States, with over Modesto City Schools
12 million members. It operates 39 hospitals and more than 700 medical offices, with nearly Modesto Junior College
300,000 personnel, including over 80,000 physicians and nurses.
Pacific Southwest Container
Each Permanente Medical Group operates as a separate for- Peter Vella Winery
profit partnership or professional corporation in its individual Rizo-Lopez Foods
territory, and while none publicly reports its financial results, SaveMart Headquarters
each is primarily funded by reimbursements from its respective
Silgan Containers
regional Kaiser Foundation Health Plan entity. KFHP is one of
Stanislaus County
the largest not-for-profit organizations in the United States.
Stanislaus Food Processing
Storer Coachways
Sutter Gould Medical Center
Zabaco Winery
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Possible to add new LED Signage
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
New Developments
New craft beer bars opening in Modesto
New Businesses opening in Modesto
Brass Tap
New Standiford Veterinary Center under
construction on Standiford Avenue
Soon to be Splash Bar
New dental office under New AutoZone in the Promenade Shopping Center
construction on Standiford Avenue on McHenry Avenue
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Kiernan Business Park - Site Adjacent
Kiernan Business Park is a mixed-use development area proposed for commercial, office and residential uses. Kaiser Permanente chose this
area for a regional medical facility campus, soon to be joined by the Valley Children's Medical Center, a regional pediatric center of excellence.
Kiernan also is home to rehabilitation and dialysis centers. Kiernan offers work/life convenience, being located near to Route 99, high end
housing.
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Near by Restaurants
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Sales Comparable Map
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Sales Comparables
Sale Price CAP Total SF Land Area
Photos Address Year Built Days on Market
Sale Date NOI $/SF Number of Spaces
3900 Pelandale Avenue
$17,500,000 3.54 % 153,744 SF 11 SF
Modesto, California 1992 N/A -
N/A $620,020 $114 30
95356
3919 Pelandale Ave
$46,000,000 - 179,871 SF 226,076
Modesto, CA 2003 -
05/03/2018 - $256 -
95356
3500 Sisk Rd,
$3,200,000 - 17,955 SF 23,522
Modesto , CA 1984 -
05/23/2018 - $178 -
95356
2800 Sisk Rd
$4,500,000 - 45,410 SF 106,286
Modesto, CA 1984 -
12/04/2018 - $99 -
95356
2700 Sisk Rd
$2,700,000 - 46,000 SF 183,823
Modesto, CA 1985 -
12/13/2018 - $59 -
95350
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Sale Price CAP Total SF Land Area
Photos Address Year Built Days on Market
Sale Date NOI $/SF Number of Spaces
1750 Standiford Ave
$915,000 - 5,620 SF 13,939
Modesto, CA 1990 -
06/26/2018 - $163 -
95350
- 58,971 SF 110,729 SF
Averages $11,463,000 - -
- $151 -
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356Wood Colony Plaza
Demographics
POPULATION
POPULATION BY YEAR % ANNUAL POPULATION GROWTH
1.0
2024
0.8
Study Area
0.6
2019 US
0.4
0.2
2010
0.0
0 50,00 100,00 150,00 200,00 250,00 2010-2019 2019-2024
0 0 0 0 0
RACE & ETHNICITY INCOME
White - 57.5% $51,788
Black/African American - 3.5% MEDIAN HOUSEHOLD INCOME
American Indian - 1.4%
$21,207
Asian - 5.6%
PER CAPITA INCOME
Native Hawaiian/Other Pacific Islander -
0.8%Other Race - 25.0% HOME OWNERSHIP
Two or More Races - 6.3%
52.6%
52.8% HISPANIC/LATINO POPULATION (ALL RACES) OWNER-OCCUPIED UNITS
EMPLOYMENT EDUCATION
Master's/Professional/Doctorate - 4.4%
92,764 EMPLOYEES Bachelor's - 10.7%
7,044 BUSINESSES Other - 84.9%
8.8% RESIDENTIAL UNEMPLOYMENT RATE
3900 Pelandale Avenue
The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.
Modesto, California 95356CONFIDENTIALITY AGREEMENT Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or ICRE, INC., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or ICRE, INC. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to ICRE, Inc., or destroy DISCLAIMER This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases, loan pro forma’s, appraisal snap shots and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property and related documents may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither ICRE,INC.. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. Copyright Notice © 2019 ICRE, INC.. All Rights Reserved. Exclusively Marketed By: Debi Myers 949-636-4501 dmyers@integrity-cre.com Lic. 01852719
You can also read
