1302 9th Street, Modesto, CA 95354

Property Description

Excellent Sale Leaseback Investment! Nearly Zero Landlord Maintenance! 7% Cap Rate! Subject property is occupied by Fresh Ideas Flower Company, the region's largest wholesale and retail flower bouquet company. In business since 1998, the tenant generates annual sales over $8M, wholesales flowers to grocery stores throughout the region, and operates a retail flower shop and delivery services. Fresh Ideas maintains a weekly delivery footprint stretching from Redding to Reno and Sacramento to Bakersfield a well-established, financially strong operator providing a secure, long-term income stream. Under the lease, the Tenant is responsible for all property maintenance, including roof and HVAC, minimizing landlord obligations and making this a truly passive, low-management investment. The property is offered with a new a five year lease at $13,000 per month starting rent and 3% annual increases, providing an investor with immediate, stable income from day one. Property features a 12,000 SF commercial building, on a 13,939 SF corner lot and offers a rare combination of office, retail, refrigerated cold storage, and open warehouse space under one roof. This property presents a versatile asset with broad appeal across food distribution, cold storage, light industrial, and service industry users. Interior highlights include a 5,000 SF open warehouse (50'100'), a 1,500 SF 40 chiller room, a walk-in refrigerator, large office and retail areas, a remodeled restroom, and a breakroom with kitchenette. Please see brochure for more information. Property could be sold to an owner-user if preferred.