Historic Industrial Building in
For Sale
$830,000
1106 G St, Modesto, CA 95354
Vintage industrial landmark with endless possibilities in downtown Modesto.
Property Size5,250 SF
Lot Size0.12 Acres
Days on Market153
Property Features for 1106 G St
General Information
Standard status
Active
Size
5,250 SF
Lot size
0.12 Acres
Property subtype
Commercial
Building Details
Building Size
5,250 SF
Year Built
1929
Listing Agency:
EXIT REALTY CONSULTANTS
(209) 554-5252
Listed By:
Renee Ledbetter · License #01488931
(209) 554-5252
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:21PM
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 EXIT REALTY CONSULTANTS
Investment Insights
Based on property information with market context.
This historic building, formerly Modesto Machine Works, is located in downtown Modesto, approximately 90 miles from San Francisco. The property retains its original redwood beam ceilings, complete with authentic overhead drive shafts and pulleys. It features exposed brick and walls of windows. The building's expansive interior and industrial charm offer possibilities for various uses, including a wine bar, tap room, design studio, office space, or boutique retail hub. The property is within walking distance of the Gallo Center for the Arts, shops, cafes, and parks.
Key Highlights
- Historic 1929 building with original redwood beam ceilings, overhead drive shafts, and pulleys.
- Versatile space suitable for a machine shop, wine bar, tap room, design studio, office space, or retail hub.
- Located in the heart of downtown Modesto, close to arts, shops, cafes, and parks.
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
$50,009
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
6.03%
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%
$1,000,180
$1.0M
Cap Rate 7%
$714,414
$714.4K
Cap Rate 9%
$555,656
$555.7K
Market Conditions
NOI Build-Up for 5,250 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
$75.6K $14.40/SF
− Vacancy
−$4.2K −$0.79/SF
EGI
$71.4K $13.61/SF
− OpEx
−$21.4K −$4.08/SF
NOI
$50.0K $9.53/SF
Area
Modesto, CA
Vacancy
5.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,000,180
Cap Rate 7%
$714,414
Cap Rate 9%
$555,656
Alternative Uses
Best Use
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 10.76%
Second Best
Office B
$1.26M
$1.10M – $1.47M
NOI $88,358 @ 7.0% cap · market cap 10.65%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,480 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 95354, CA
26,765
Population
9,797
Households
2.7
Avg Household Size
36
Median Age
17%
College-Educated
80%
High-School Grad
7.7 sq mi
ZIP Area
3,476
Density / Sq Mi
$65,643
Median Household Income
$42,126
Median Earnings
$1,463
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Vintage industrial landmark with endless possibilities in downtown Modesto.
Where is this manufacturing property located?
The property is located at 1106 G St Modesto, CA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Historic 1929 building with **original redwood beam ceilings, overhead drive shafts, and pulleys.**; Versatile space suitable for a machine shop, wine bar, tap room, design studio, office space, or retail hub.; Located in the heart of downtown Modesto, close to arts, shops, cafes, and parks.
