Retail/Service Flex
For Sale
$1,350,000
1029 Martin Luther King Jr Way, Merced, CA 95341
Freestanding retail showroom and fully equipped service shop with office, waiting area, and secured fenced yard.
Property Size7,000 SF
Lot Size0.63 Acres
Price / SF$192.86
Days on Market94
Property Features for 1029 Martin Luther King Jr Way
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
20
Lot size
0.63 Acres
Property subtype
Commercial/Industrial
Zoning
C-G
Occupancy
100%
Financials
Business Included
Yes
Opportunity Zone
Yes
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Service Bays
2
Building Details
Year Built
1990
Year Renovated
2020
Tenancy
Single
Listing Agency:
Del Real Commercial
(209) 285-9913
Listed By:
Dan Del Real · License #01501195
(209) 285-9912
Source:
Exitrealty
Added: Jul 19
Changed: Oct 19
Last Checked: Oct 19 at 6:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Del Real Commercial
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Investment Insights
Based on property information with market context.
This freestanding retail/industrial-flex building offers approximately 7,000 SF of combined showroom and service functionality, built in 1990 and comprehensively renovated beginning in 2020. The showroom includes a remodel with new laminate flooring and an open industrial ceiling. The service shop is fully upgraded with new insulation, epoxy-coated floors, LED lighting, custom cabinets and workstations, and two installed car lifts. Additional improvements include office space and a customer waiting area, along with a fenced, secured yard featuring two on-site storage sheds.
The property sits on a 0.63-acre lot with 87 feet of frontage and a single curb cut for access. The site provides 20 surface parking spaces. Exterior security features include a black coated chain-link fence, security lighting, and camera coverage. A programmable LED sign totaling approximately $45,000 was installed as part of the 2020 work.
Zoned C-G (Commercial General), the current owner-occupied use is an automotive audio, air conditioning, security, and remote-start installation business, and it is stated as a fully conforming use under the C-G designation.
The property sits on a 0.63-acre lot with 87 feet of frontage and a single curb cut for access. The site provides 20 surface parking spaces. Exterior security features include a black coated chain-link fence, security lighting, and camera coverage. A programmable LED sign totaling approximately $45,000 was installed as part of the 2020 work.
Zoned C-G (Commercial General), the current owner-occupied use is an automotive audio, air conditioning, security, and remote-start installation business, and it is stated as a fully conforming use under the C-G designation.
Key Highlights
- ±7,000 SF freestanding retail/industrial‑flex building on a 0.63‑acre (27,443 SF) lot in Merced, CA
- Built in 1990 with comprehensive renovations beginning in 2020, including showroom remodel and full shop system upgrades
- Fully equipped service shop with epoxy‑coated floors, LED lighting, custom cabinets/workstations, and two installed car lifts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,167
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,663,340
$1.7M
Cap Rate 7%
$1,188,100
$1.2M
Cap Rate 9%
$924,078
$924.1K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$134.4K $19.20/SF
− Vacancy
−$6.5K −$0.92/SF
EGI
$127.9K $18.28/SF
− OpEx
−$44.8K −$6.40/SF
NOI
$83.2K $11.88/SF
Area
Merced County, CA
Vacancy
4.80%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,663,340
Cap Rate 7%
$1,188,100
Cap Rate 9%
$924,078
Alternative Uses
Best Use
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,167 @ 7.0% cap · market cap 6.16%
Second Best
Industrial
$649.8K
$568.6K – $758.1K
NOI $45,485 @ 7.0% cap · market cap 3.37%
Theoretical Best
Healthcare Medical
$1.54M
$1.35M – $1.80M
NOI $108,108 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Service bays
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95341, CA
33,194
Population
9,331
Households
3.6
Avg Household Size
29
Median Age
8%
College-Educated
63%
High-School Grad
146.8 sq mi
ZIP Area
226
Density / Sq Mi
$55,516
Median Household Income
$32,184
Median Earnings
$1,172
Median Rent
$295,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- DIVA DOGS Hot Dogs & Catering — 1055 W 15th St, Merced, CA 95340
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding retail showroom and fully equipped service shop with office, waiting area, and secured fenced yard.
Where is this flex space located?
The property is located at 1029 Martin Luther King Jr Way Merced, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: ±7,000 SF freestanding retail/industrial‑flex building on a 0.63‑acre (27,443 SF) lot in Merced, CA; Built in 1990 with comprehensive renovations beginning in 2020, including showroom remodel and full shop system upgrades; Fully equipped service shop with epoxy‑coated floors, LED lighting, custom cabinets/workstations, and two installed car lifts
