Corner Retail and Flex
For Sale
Contact for pricing
107 3rd St, Turlock, CA 95380
Combined 20,716± SF includes storefront retail and a flexible warehouse/flex building with high ceilings.
Property Size20,716 SF
Price / SF$134.92
Days on Market443
Property Features for 107 3rd St
General Information
Standard status
Active
Size
20,716 SF
Property subtype
RETAIL
Listing Agency:
First Commercial Real Estate and Advisory Services
(209) 461-6400
Listed By:
Andy Le · License #02110117
(337) 852-1040
Source:
Moodyscre
Added: Jun 20, 2025
Changed: Aug 28
Last Checked: Aug 14 at 7:45AM
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 First Commercial Real Estate and Advisory Services
Investment Insights
Based on property information with market context.
This owner-user offering presents a combined 20,716± SF of commercial space across two adjacent parcels. At 250 W. Market St. there is a high-visibility storefront with expansive display windows (14,252± SF). The second parcel, 107 3rd St., is a flexible warehouse/flex building (6,464± SF) suited for storage, creative workspace, or light industrial use. Both buildings feature high ceilings and open interiors designed to support a range of business operations.
The property is located on a prominent corner in the heart of Downtown Turlock. It is currently occupied by Minerva’s Home Gallery, a longstanding local furniture retailer established in 1983.
The layout combines retail fronting with warehouse/flex space within two adjacent parcels, providing flexibility for an owner-operator or business looking to support both customer-facing and operational needs.
The property is located on a prominent corner in the heart of Downtown Turlock. It is currently occupied by Minerva’s Home Gallery, a longstanding local furniture retailer established in 1983.
The layout combines retail fronting with warehouse/flex space within two adjacent parcels, providing flexibility for an owner-operator or business looking to support both customer-facing and operational needs.
Key Highlights
- Combined 20,716± SF of commercial space on a prominent downtown Turlock corner
- Includes 250 W. Market St.: 14,252± SF with a high‑visibility storefront and expansive display windows
- Includes 107 3rd St.: 6,464± SF warehouse/flex building for storage, creative workspace, or light industrial use
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
$230,743
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
8.26%
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%
$4,614,860
$4.6M
Cap Rate 7%
$3,296,329
$3.3M
Cap Rate 9%
$2,563,811
$2.6M
Market Conditions
NOI Build-Up for 20,716 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
$372.9K $18.00/SF
− Vacancy
−$17.9K −$0.86/SF
EGI
$355.0K $17.14/SF
− OpEx
−$124.2K −$6.00/SF
NOI
$230.7K $11.14/SF
Area
Stanislaus County, CA
Vacancy
4.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,614,860
Cap Rate 7%
$3,296,329
Cap Rate 9%
$2,563,811
Alternative Uses
Best Use
Retail
$6.91M
$6.05M – $8.06M
NOI $483,882 @ 7.0% cap · market cap 17.31%
Second Best
Flex RnD
$3.30M
$2.88M – $3.85M
NOI $230,743 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$9.63M
$8.43M – $11.23M
NOI $674,003 @ 7.0% cap · market cap 24.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95380, CA
42,912
Population
15,682
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
73%
High-School Grad
77.2 sq mi
ZIP Area
556
Density / Sq Mi
$68,308
Median Household Income
$39,002
Median Earnings
$1,348
Median Rent
$410,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Combined 20,716± SF includes storefront retail and a flexible warehouse/flex building with high ceilings.
Where is this flex space located?
The property is located at 107 3rd St Turlock, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Combined 20,716± SF of commercial space on a prominent downtown Turlock corner; Includes 250 W. Market St.: 14,252± SF with a high‑visibility storefront and expansive display windows; Includes 107 3rd St.: 6,464± SF warehouse/flex building for storage, creative workspace, or light industrial use
