Flex Warehouse with Cold
For Sale
$1,025,000
1314 9th Street, Modesto, CA 95354
Office space connects to rear refrigerated storage served by two chiller rooms totaling significant coolers.
Property Size6,242 SF
Days on Market125
Property Features for 1314 9th Street
General Information
Standard status
Active
Size
6,242 SF
Zoning
Urban Downtown General
Amenities
See Remarks
Building Details
Building Size
6,242 SF
Year Built
1968
Listing Agency:
PMZ Commercial
(209) 345-8209
Listed By:
Jordan R. Amarant · License #01911219
(209) 345-8209
Source:
Evrealestate
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 26 at 6:27AM
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 PMZ Commercial
Investment Insights
Based on property information with market context.
This well-configured office and cold storage flex warehouse includes a large open workspace with drop ceiling and HVAC, along with three private offices and two restrooms. The rear portion is dedicated warehouse space built for temperature-controlled operations, featuring a 40’ chiller room spanning 1,844 SF and a second chiller room at 1,000 SF.
The property is located at 1314 9th St in Modesto’s 9th Street commercial corridor. The building is described as approximately 6,272 SF interior on a 10,454 SF lot; buyers should verify the building size.
If refrigerated storage is not needed, the coolers can be removed or not run to create additional standard warehouse space, while keeping the office component in place.
The property is located at 1314 9th St in Modesto’s 9th Street commercial corridor. The building is described as approximately 6,272 SF interior on a 10,454 SF lot; buyers should verify the building size.
If refrigerated storage is not needed, the coolers can be removed or not run to create additional standard warehouse space, while keeping the office component in place.
Key Highlights
- Office and cold storage warehouse on Modesto’s 9th Street commercial corridor
- ±6,272 SF building on a 10,454 SF lot (buyer to verify building size)
- Office includes a large open workspace, drop ceiling, HVAC, three private offices, and two restrooms
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
$81,941
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
7.99%
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%
$1,638,820
$1.6M
Cap Rate 7%
$1,170,586
$1.2M
Cap Rate 9%
$910,456
$910.5K
Market Conditions
NOI Build-Up for 6,242 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
$134.8K $21.60/SF
− Vacancy
−$8.8K −$1.40/SF
EGI
$126.1K $20.20/SF
− OpEx
−$44.1K −$7.07/SF
NOI
$81.9K $13.13/SF
Area
Modesto, CA
Vacancy
6.50%
Lease Rate
$21.60 /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%
$1,638,820
Cap Rate 7%
$1,170,586
Cap Rate 9%
$910,456
Alternative Uses
Best Use
Flex RnD
$1.17M
$1.02M – $1.37M
NOI $81,941 @ 7.0% cap · market cap 7.99%
Second Best
Warehouse
$950.5K
$831.7K – $1.11M
NOI $66,533 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,812 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,934
Businesses Nearby
Balanced
Demand for This Use
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 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 - Office space connects to rear refrigerated storage served by two chiller rooms totaling significant coolers.
Where is this flex space located?
The property is located at 1314 9th Street Modesto, CA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Office and cold storage warehouse on Modesto’s 9th Street commercial corridor; ±6,272 SF building on a 10,454 SF lot (buyer to verify building size); Office includes a large open workspace, drop ceiling, HVAC, three private offices, and two restrooms
