Flex Office and Clear-Span
For Sale
$3,500,000
9150 E Highway 12 Lodi, Lodi, CA 95240
Two-building flex property with a clear-span warehouse, 6,150 SF office, and direct Highway 12 frontage.
Property Size17,420 SF
Price / SF$200.92
Days on Market47
Property Features for 9150 E Highway 12 Lodi
General Information
Standard status
Active
Size
17,420 SF
Amenities
Sheetrock,Metal
Tile,Carpet,Concrete,Concrete Slab,Heavy Duty,Varies by Unit
6150
1
Dual Pane Partial,Window Coverings
Low Maintenance
Public
0.0
2.0
Assessor Auto-Fill
Open,Commercial Vehicle Allowed,Covered,Electric Gate,Uncovered,Fenced,Visitor,Lighted
Combination,Concrete,Raised
Highway Frontage
17420.0
2
Building Details
Year Built
1911
Buildings
2
Listing Agency:
(916) 869-6351
Listed By:
Waheed Akhtar · License #2180939
(916) 869-6351
Source:
Waheedakhtar.remax
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 29 at 6:26AM
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 Waheed Akhtar
Investment Insights
Based on property information with market context.
This flex-style property includes two well-maintained buildings totaling approximately 17,420 SF: an approximately 6,150 SF office building and an approximately 11,270 SF clear-span warehouse/shop. The office features 11 private offices, two conference rooms (seating 12 and 20), a glass-storefront reception area with greeting window, and a fully equipped break room/kitchen. ADA-compliant men’s and women’s restrooms are included, along with carpet/tile finishes and (4) 5-ton HVAC units across four zones. The warehouse/shop offers 24' clear height at the walls rising to 32' at the center, LED high-bay lighting, sidewall skylights, insulated non-conditioned construction, and a 6" reinforced slab-on-grade. Dock access includes (3) 10'x16' roll-up doors and (1) 8'x10' door, plus infrastructure/plumbing for potential future mezzanine and additional office/ADA bathroom space.
The site has direct Highway 12 frontage and convenient access to Highway 99 about 3 miles away. Utilities include PG&E gas/electric with a 400 amp main service, 240V single phase electric, San Joaquin County water, a 5,000-gallon commercial septic system with dual dry wells, and natural gas on site. Site improvements include a 45,000-gallon fire suppression water tank, plus RV waste disposal and water hookup. The property also provides approximately 1.25 acres of combined paved parking and equipment laydown area and is fully fenced and secured.
The site has direct Highway 12 frontage and convenient access to Highway 99 about 3 miles away. Utilities include PG&E gas/electric with a 400 amp main service, 240V single phase electric, San Joaquin County water, a 5,000-gallon commercial septic system with dual dry wells, and natural gas on site. Site improvements include a 45,000-gallon fire suppression water tank, plus RV waste disposal and water hookup. The property also provides approximately 1.25 acres of combined paved parking and equipment laydown area and is fully fenced and secured.
Key Highlights
- Two‑building C‑RS commercial/industrial property on 2.0 acres with +/-17,420 SF total building area
- Clear‑span warehouse/shop totals +/-11,270 SF with 24' wall clear height and 32' center clear height
- Office building totals +/-6,150 SF with 11 private offices, 2 conference rooms, and a glass‑storefront reception
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
$244,742
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
6.99%
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%
$4,894,840
$4.9M
Cap Rate 7%
$3,496,314
$3.5M
Cap Rate 9%
$2,719,356
$2.7M
Market Conditions
NOI Build-Up for 17,420 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
$296.8K $17.04/SF
− Vacancy
−$8.9K −$0.51/SF
EGI
$287.9K $16.53/SF
− OpEx
−$43.2K −$2.48/SF
NOI
$244.7K $14.05/SF
Area
San Joaquin County, CA
Vacancy
3.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
15.00%
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%
$4,894,840
Cap Rate 7%
$3,496,314
Cap Rate 9%
$2,719,356
Alternative Uses
Best Use
Warehouse
$3.50M
$3.06M – $4.08M
NOI $244,742 @ 7.0% cap · market cap 6.99%
Second Best
Flex RnD
$2.91M
$2.55M – $3.40M
NOI $203,950 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,780 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95240, CA
49,102
Population
17,304
Households
2.8
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
68.2 sq mi
ZIP Area
720
Density / Sq Mi
$76,870
Median Household Income
$38,359
Median Earnings
$1,439
Median Rent
$443,700
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?
Flex space - Two-building flex property with a clear-span warehouse, 6,150 SF office, and direct Highway 12 frontage.
Where is this flex space located?
The property is located at 9150 E Highway 12 Lodi Lodi, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two‑building C‑RS commercial/industrial property on 2.0 acres with +/-17,420 SF total building area; Clear‑span warehouse/shop totals +/-11,270 SF with 24' wall clear height and 32' center clear height; Office building totals +/-6,150 SF with 11 private offices, 2 conference rooms, and a glass‑storefront reception
