Turn-Key Medical/Office Building For
For Sale
$850,000
2800 Park Avenue #A, Merced, CA 95348
Centrally located, versatile medical/office building with loft and ample parking.
Property Size2,186 SF
Lot Size0.05 Acres
Price / SF$388.84
Days on Market588
Property Features for 2800 Park Avenue #A
General Information
Standard status
Active
Size
2,186 SF
Lot size
0.05 Acres
Property subtype
Commercial
Amenities
Central air
Metal Roof
Central Air Cooling
Central Heating
Landscaped
Near Public Transit
Listing Agency:
VALENCIA REAL ESTATE GROUP
(209) 358-7450
Listed By:
ESTHER VALENCIA · License #01522963
Source:
Corcoran
Added: Jan 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:13AM
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 VALENCIA REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This centrally located building, previously used as a medical office, is versatile enough to be used for any other office type and, with some modifications, a dental office. The property offers 2,186 square feet of space. The upstairs loft is versatile and may be used for extra storage or a staff breakroom. The layout includes two waiting rooms, a receptionist area, three bathrooms, and four exam rooms, as well as a small breakroom. There is plenty of parking available.
Key Highlights
- Centrally located for easy access.
- Turn‑key medical building ready for immediate occupancy.
- Versatile for various office types (medical, general, dental with modifications).
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
$33,761
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
3.97%
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%
$675,220
$675.2K
Cap Rate 7%
$482,300
$482.3K
Cap Rate 9%
$375,122
$375.1K
Market Conditions
NOI Build-Up for 2,186 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
$65.6K $30.00/SF
− Vacancy
−$9.3K −$4.26/SF
EGI
$56.3K $25.74/SF
− OpEx
−$22.5K −$10.30/SF
NOI
$33.8K $15.44/SF
Area
Merced County, CA
Vacancy
14.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$675,220
Cap Rate 7%
$482,300
Cap Rate 9%
$375,122
Alternative Uses
Best Use
Healthcare Medical
$482.3K
$422.0K – $562.7K
NOI $33,761 @ 7.0% cap · market cap 3.97%
Second Best
Office B
$58.8K
$51.4K – $68.6K
NOI $4,113 @ 7.0% cap · market cap 0.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95348, CA
35,066
Population
12,173
Households
2.9
Avg Household Size
30
Median Age
19%
College-Educated
80%
High-School Grad
59.0 sq mi
ZIP Area
594
Density / Sq Mi
$63,618
Median Household Income
$40,171
Median Earnings
$1,498
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Centrally located, versatile medical/office building with loft and ample parking.
Where is this medical office space located?
The property is located at 2800 Park Avenue #A Merced, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Centrally located for easy access.; Turn‑key medical building ready for immediate occupancy.; Versatile for various office types (medical, general, dental with modifications).
