Historic Benicia Commercial
For Sale
Contact for pricing
106 W J St, Benicia, CA 94510
Versatile mixed-use building in downtown Benicia with established tenants.
Property Size8,820 SF
Price / SF$192.74
Days on Market763
Property Features for 106 W J St
General Information
Standard status
Active
Size
8,820 SF
Property subtype
Mixed Use
Zoning
Mixed
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1895
Year Renovated
2017
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
eXp Commercial of California Inc.
(650) 271-2308
Listed By:
Helen Yong · License #01772827
Source:
Crexi
Added: Jul 16, 2024
Changed: Aug 14
Last Checked: Aug 13 at 12:20PM
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 eXp Commercial of California Inc.
Investment Insights
Based on property information with market context.
Located in the heart of downtown Benicia, this historic commercial building at the corner of 1st and W J Streets presents a rare opportunity for both owner-occupiers and investors. The property features three separate retail/office storefronts on 1st Street, currently occupied by long-term tenants at 929, 931, and 935 1st St. The second story, with a separate entrance at 106 W J Street, was formerly a Masonic Lodge. A refinished wide staircase leads to a semi-remodeled space that combines historic charm with modern updates. The upper level includes a new industrial-style kitchen with a large stainless sink and an 8-foot prep island, suitable for cooking classes or catering services. It also features a climate-controlled, sound-mitigated, and insulated office, two remodeled ADA-compliant bathrooms (one with a full shower), and new energy-efficient and sound-mitigating windows. The main hall offers an approximately 50-foot by 50-foot open space with wood floors, large 9-foot windows, and an 18-foot ceiling, ideal for live events, meetings, presentations, assembly, dance or yoga studio, or arts and crafts studio or gallery. The upstairs space is currently used as a fully equipped digital media studio and has hosted successful private events. The 8,820 square foot property offers potential for a live-work space or an exclusive event venue.
Key Highlights
- Prime downtown location at the corner of 1st & W J Streets with established long‑term tenants.
- Unique, semi‑remodeled second story space blending historic charm with modern updates, including a new industrial‑style kitchen, climate‑controlled office, and ADA‑compliant bathrooms.
- Large, versatile Main Hall (approx. 50ft x 50ft) with 18ft ceilings, wood floors, and large windows**, suitable for various uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$107,163
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,143,260
$2.1M
Cap Rate 7%
$1,530,900
$1.5M
Cap Rate 9%
$1,190,700
$1.2M
Market Conditions
NOI Build-Up for 8,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$190.5K $21.60/SF
− Vacancy
−$19.1K −$2.16/SF
EGI
$171.5K $19.44/SF
− OpEx
−$64.3K −$7.29/SF
NOI
$107.2K $12.15/SF
Area
Solano County, CA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,143,260
Cap Rate 7%
$1,530,900
Cap Rate 9%
$1,190,700
Alternative Uses
Best Use
Mixed Use
$1.53M
$1.34M – $1.79M
NOI $107,163 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.94M
$2.58M – $3.43M
NOI $206,024 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 94510, CA
27,174
Population
11,463
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
931
Density / Sq Mi
$125,222
Median Household Income
$70,569
Median Earnings
$2,234
Median Rent
$778,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile mixed-use building in downtown Benicia with established tenants.
Where is this mixed-use property located?
The property is located at 106 W J St Benicia, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime downtown location at the corner of 1st & W J Streets with established long‑term tenants.; Unique, semi‑remodeled second story space blending historic charm with modern updates, including a **new industrial‑style kitchen, climate‑controlled office, and ADA‑compliant bathrooms.**; Large, versatile Main Hall (approx. 50ft x 50ft) with 18ft ceilings, wood floors, and large windows**, suitable for various uses.
