Showroom-Retail and Dock-High
For Sale
Contact for pricing
1332 9th Street, Modesto, CA 95354
Includes improved showroom/retail space, dock-high warehouse operations, and a two-story apartment with refurbishment potential.
Property Size8,000 SF
Price / SF$111.88
Days on Market52
Property Features for 1332 9th Street
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Industrial, Mixed Use
Investment Type
Value Add
Building Details
Year Built
1935
Listing Agency:
PMZ Commercial
Listed By:
Randy High · License #01238404
Source:
Crexi
Added: Jul 9
Changed: Aug 28
Last Checked: Aug 28 at 10:22PM
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 ±8,000 SF property includes approximately 2,000 SF of nicely improved showroom/retail space upfront. The remainder is configured as functional dock-high warehouse space for operations, with additional value-add coming from a unique two-story apartment. The apartment presents refurbishment or remodeling opportunities.
Located at 1332 9th Street in Modesto, the property benefits from a corridor described as undergoing significant transformation.
Overall, the layout combines customer-facing retail/showroom space with warehouse operations and an on-site residential component, creating a mixed-use configuration within a single building.
Located at 1332 9th Street in Modesto, the property benefits from a corridor described as undergoing significant transformation.
Overall, the layout combines customer-facing retail/showroom space with warehouse operations and an on-site residential component, creating a mixed-use configuration within a single building.
Key Highlights
- ±8,000 SF commercial property in Modesto with showroom/retail, dock‑high warehouse, and residential space
- Approximately 2,000 SF of improved showroom/retail space at the front of the property
- Functional dock‑high warehouse space supporting business operations
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
$76,205
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
8.51%
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%
$1,524,100
$1.5M
Cap Rate 7%
$1,088,643
$1.1M
Cap Rate 9%
$846,722
$846.7K
Market Conditions
NOI Build-Up for 8,000 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
$115.2K $14.40/SF
− Vacancy
−$6.3K −$0.79/SF
EGI
$108.9K $13.61/SF
− OpEx
−$32.7K −$4.08/SF
NOI
$76.2K $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%
$1,524,100
Cap Rate 7%
$1,088,643
Cap Rate 9%
$846,722
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,073 @ 7.0% cap · market cap 13.86%
Second Best
Flex RnD
$1.50M
$1.31M – $1.75M
NOI $105,019 @ 7.0% cap · market cap 11.73%
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,160 @ 7.0% cap · market cap 21.02%
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 - Includes improved showroom/retail space, dock-high warehouse operations, and a two-story apartment with refurbishment potential.
Where is this flex space located?
The property is located at 1332 9th Street Modesto, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: ±8,000 SF commercial property in Modesto with showroom/retail, dock‑high warehouse, and residential space; Approximately 2,000 SF of improved showroom/retail space at the front of the property; Functional dock‑high warehouse space supporting business operations
