Refrigerated Warehouse with Multiple
For Sale
$830,000
1320 9th Street, Modesto, CA 95354
Segmented industrial facility with office space, temperature-controlled storage, and multiple loading access points.
Property Size5,032 SF
Lot Size0.24 Acres
Price / SF$164.94
Days on Market64
Property Features for 1320 9th Street
General Information
Standard status
Active
Size
5,032 SF
Lot size
0.24 Acres
Zoning
Urban Downtown General
Warehouse & Industrial
Cold Storage
Yes
Cold Storage Temp
40 °F
Conditioned Warehouse
Yes
Amenities
See Remarks
Building Details
Building Size
5,032 SF
Year Built
1965
Listing Agency:
PMZ Commercial
(209) 345-8209
Listed By:
Jordan R. Amarant · License #01911219
(209) 345-8209
Source:
Evrealestate
Added: Jun 27
Changed: Aug 29
Last Checked: May 20 at 7:03AM
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 refrigerated and cold storage facility was built in 1965 and measures approximately 5,032 SF on a 10,454 SF lot, with building size subject to buyer verification. The layout is divided into distinct operating areas, including a front office with an ADA restroom, open office area, private office, HVAC-conditioned warehouse, additional warehouse space, and a 40 refrigerated warehouse room. Four roll-up doors serve the conditioned warehouse, while two more roll-up doors provide access to the adjoining warehouse section. A second restroom is located within the warehouse area.
The property is positioned along 9th Street in Modesto’s established industrial corridor. The refrigerated rooms may be retained for cold-storage operations or removed and taken out of service to create additional conventional warehouse area, subject to buyer evaluation.
The property is positioned along 9th Street in Modesto’s established industrial corridor. The refrigerated rooms may be retained for cold-storage operations or removed and taken out of service to create additional conventional warehouse area, subject to buyer evaluation.
Key Highlights
- Approximately 5,032 SF building on a 10,454 SF lot; buyer to verify building size
- 40 refrigerated warehouse room
- Four roll‑up doors in the HVAC‑conditioned warehouse
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
$66,057
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
7.96%
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%
$1,321,140
$1.3M
Cap Rate 7%
$943,671
$943.7K
Cap Rate 9%
$733,967
$734.0K
Market Conditions
NOI Build-Up for 5,032 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
$108.7K $21.60/SF
− Vacancy
−$7.1K −$1.40/SF
EGI
$101.6K $20.20/SF
− OpEx
−$35.6K −$7.07/SF
NOI
$66.1K $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%
$1,321,140
Cap Rate 7%
$943,671
Cap Rate 9%
$733,967
Alternative Uses
Best Use
Flex RnD
$943.7K
$825.7K – $1.10M
NOI $66,057 @ 7.0% cap · market cap 7.96%
Second Best
Warehouse
$766.2K
$670.5K – $893.9K
NOI $53,636 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,353 @ 7.0% cap · market cap 14.26%
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
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
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Segmented industrial facility with office space, temperature-controlled storage, and multiple loading access points.
Where is this refrigerated & cold storage located?
The property is located at 1320 9th Street 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: Approximately 5,032 SF building on a 10,454 SF lot; buyer to verify building size; 40 refrigerated warehouse room; Four roll‑up doors in the HVAC‑conditioned warehouse
