Description

We are pleased to present the opportunity to acquire the fee-simple interest in a newly constructed, single-tenant medical office property located in Modesto. The Property consists of approximately 0.61 acres improved with a one-story, approximately 4,214 square foot medical office building completed in 2023 as a build-to-suit for the current tenant. An adjacent vacant parcel of approximately 0.57 acres is also available for purchase, offering potential for additional parking or future expansion, subject to buyer verification and local approvals. The Property is located near the intersection of Dale Road and Kiernan Avenue and benefits from proximity to a major regional hospital campus. Traffic counts are reported to be approximately 14,000 vehicles per day on Dale Road and 27,000 vehicles per day on Kiernan Avenue (buyer to verify). The surrounding five-mile radius includes approximately 129,000 residents with an average household income of approximately $97,000 (buyer to verify). The Property is subject to a 15-year lease with three 5-year renewal options. The lease structure is reported to be net, with scheduled rental increases of 10% every five years throughout the initial term and option periods. The lease is guaranteed by a publicly traded healthcare provider. Buyers are advised to independently verify all lease terms, financial information, and property details.