<SEC-DOCUMENT>0001645873-25-000059.txt : 20250401
<SEC-HEADER>0001645873-25-000059.hdr.sgml : 20250401
<ACCEPTANCE-DATETIME>20250401214157
ACCESSION NUMBER:		0001645873-25-000059
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250401
DATE AS OF CHANGE:		20250401

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRISHAM SARA R
		CENTRAL INDEX KEY:			0002062006
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40814
		FILM NUMBER:		25801796

	MAIL ADDRESS:	
		STREET 1:		2912 N. 16TH AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85015

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MODIV INDUSTRIAL, INC.
		CENTRAL INDEX KEY:			0001645873
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				474156046
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2195 SOUTH DOWNING STREET
		CITY:			DENVER
		STATE:			CO
		ZIP:			80210
		BUSINESS PHONE:		888-686-6348

	MAIL ADDRESS:	
		STREET 1:		2195 SOUTH DOWNING STREET
		CITY:			DENVER
		STATE:			CO
		ZIP:			80210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Modiv Industrial, Inc.
		DATE OF NAME CHANGE:	20230811

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MODIV INC.
		DATE OF NAME CHANGE:	20210120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RW HOLDINGS NNN REIT, INC.
		DATE OF NAME CHANGE:	20170814
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wk-form3_1743558111.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-03-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001645873</issuerCik>
        <issuerName>MODIV INDUSTRIAL, INC.</issuerName>
        <issuerTradingSymbol>MDV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002062006</rptOwnerCik>
            <rptOwnerName>GRISHAM SARA R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2195 SOUTH DOWNING STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80210</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Principal Accounting Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Class X Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK, CLASS C</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>40000</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents Class X units of limited partnership interest (&quot;Class X Units&quot;) of Modiv Operating Partnership, LP (&quot;Modiv OP&quot;), the operating partnership of Modiv Industrial, Inc. (the &quot;Company&quot;), and of which the Company is the general partner. Class X Units vest according to the terms of the award agreement pursuant to which the Class X Units were granted to the reporting person. Under the limited partnership agreement of Modiv OP, upon vesting, such Class X Units automatically convert into units of Class C limited partnership interests of Modiv OP (&quot;Class C Units&quot;), provided that the value of Modiv OP has appreciated such that the capital account of the holder of Class X Units is equal to the capital account balance attributable to a Class C Unit on a per unit basis.</footnote>
        <footnote id="F2">After such Class C Units have been outstanding for at least one year (inclusive of any holding period for any Class X Units converted into Class C Units), the holder may require Modiv OP to exchange all or a portion of such holder's Class C Units for cash or, at the option of the Company, shares of the Company's Class C Common Stock, $0.001 par value per share (the &quot;Class C Common Stock&quot;), on a one-for-one basis. Class X Units have no expiration date.</footnote>
        <footnote id="F3">Represents a grant of unvested Class X Units, all of which vest on March 5, 2030, subject to the reporting person's continued service on such date and subject to acceleration upon certain events.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ John Raney, by Power of Attorney for Sara R. Grisham</signatureName>
        <signatureDate>2025-04-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poasrgrisham.txt
<DESCRIPTION>EX-24
<TEXT>
MODIV INDUSTRIAL INC.
POWER OF ATTORNEY

    Know all by these presents, that the undersigned hereby constitutes and
appoints each of John Raney the undersigned's true and lawful attorney-in-fact
to:

(1)	prepare, execute in the undersigned's name and on the undersigned's
behalf, and submit to the U.S. Securities and Exchange Commission (the "SEC") a
Form ID, including amendments thereto, and any other documents necessary or
appropriate to obtain codes and passwords enabling the undersigned to make
electronic filings with the SEC of reports required by Section 16(a) of the
Securities and Exchange Act of 1934 or any rule or regulations of the SEC;

(2)	execute for and on behalf of the undersigned, in the undersigned's
capacity as an officer and/or director of Modiv Industrial Inc.
(the "Company"), Forms 3, 4, and 5, and amendments thereto, in accordance
with Section 16(a) of the Securities Exchange Act of 1934 and the rules
thereunder, and any other forms or reports the undersigned may be required to
file in connection with the undersigned's ownership, acquisition, or
disposition of securities of the Company;

(3)	do and perform any and all acts for and on behalf of the undersigned which
may be necessary or desirable to complete and execute any such Form ID and Form
3, 4, or 5, or other form or report, or amendment thereto, and timely file such
form with the SEC and any stock exchange, self-regulatory association or
similar authority; and

(4)	take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit to,
in the best interest of, or legally required by, the undersigned, it being
understood that the documents executed by such attorney-in-fact on behalf of
the undersigned pursuant to this Power of Attorney shall be in such form and
shall contain such terms and conditions as such attorney-in-fact may approve in
such attorney-in-fact's discretion.

    The undersigned hereby grants to each such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite,
necessary, or proper to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might
or could do if personally present, with full power of substitution or
revocation, hereby ratifying and confirming all that such attorney-in-fact, or
such attorney-in-fact's substitute or substitutes, shall lawfully do or cause
to be done by virtue of this power of attorney and the rights and powers herein
granted.

    The undersigned acknowledges that the foregoing attorneys-in-fact, in
serving in such capacity at the request of the undersigned, are not assuming,
nor is the Company assuming, any of the undersigned's responsibilities to
comply with Section 16 of the Securities Exchange Act of 1934.

    The validity of this Power of Attorney shall not be affected in any manner
by reason of the execution, at any time, of other powers of attorney by the
undersigned in favor of persons other than those named herein.

    This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4, and 5 with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.

   This Power of Attorney may be filed with the SEC as a confirming statement
of the authority granted herein.


IN WITNESS WHEREOF, I have hereunto set my hand this 28th day of February, 2025.




	    /s/ SARA R. GRISHAM
	    Name: SARA R. GRISHAM
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
