Upgraded Office Condominium
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1930 Tienda Drive Suite 201, Lodi, CA 95242
Office condominium suite with built-in reception, multiple offices, an enclosed break area, and an interior ADA restroom with shower.
Property Size1,200 SF
Price / SF$387.50
Days on Market54
Property Features for 1930 Tienda Drive Suite 201
General Information
Standard status
Active
Size
1,200 SF
Class
A
Property subtype
Office
Zoning
MCO (mixed use corridor)
Building Details
Year Built
2005
Listing Agency:
CBRE - Central Valley
Listed By:
Steve White · License #CA 01781200
(209) 476-2906
Source:
Crexi
Added: Jul 22
Changed: Sep 5
Last Checked: Sep 12 at 7:20AM
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 CBRE - Central Valley
Investment Insights
Based on property information with market context.
1930 Tienda Drive Suite 201 is an office condominium located within Millsbridge Office Park. The suite features an intentional, functional buildout with a built-in reception desk, two large offices (one suitable for a conference room), two storage closets, and an open file-preparation area with a modular island that could be removed to accommodate workstations. Suite 201 also includes a large enclosed break area and an interior ADA restroom with a shower.
The property offers convenient access from both Mills Ave and Tienda Drive and is positioned just off the signalized intersection of Mills Ave & Kettleman Lane. The office park setting includes ample parking and well-maintained landscaping.
The suite’s upgraded finishes include a stacked-stone accent wall in the reception area, bamboo floors, Mahogany cabinetry, travertine tile in the restroom and shower, granite countertops in the file area and breakroom, and frosted glass walls and doors for the offices and conference room.
The property offers convenient access from both Mills Ave and Tienda Drive and is positioned just off the signalized intersection of Mills Ave & Kettleman Lane. The office park setting includes ample parking and well-maintained landscaping.
The suite’s upgraded finishes include a stacked-stone accent wall in the reception area, bamboo floors, Mahogany cabinetry, travertine tile in the restroom and shower, granite countertops in the file area and breakroom, and frosted glass walls and doors for the offices and conference room.
Key Highlights
- Office condominium suite built in 2005 within Millsbridge Office Park
- Suite 201 includes a built‑in reception desk plus two large offices, with one suitable for a conference room
- Enclosed break area with granite countertops and a modular island for file preparation (removable for workstations)
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
$13,608
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
2.93%
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%
$272,160
$272.2K
Cap Rate 7%
$194,400
$194.4K
Cap Rate 9%
$151,200
$151.2K
Market Conditions
NOI Build-Up for 1,200 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
$21.6K $18.00/SF
− Vacancy
−$3.5K −$2.88/SF
EGI
$18.1K $15.12/SF
− OpEx
−$4.5K −$3.78/SF
NOI
$13.6K $11.34/SF
Area
San Joaquin County, CA
Vacancy
16.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$272,160
Cap Rate 7%
$194,400
Cap Rate 9%
$151,200
Alternative Uses
Best Use
Office B
$194.4K
$170.1K – $226.8K
NOI $13,608 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.5K
$230.6K – $307.4K
NOI $18,446 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 95242, CA
27,341
Population
11,190
Households
2.4
Avg Household Size
42
Median Age
32%
College-Educated
92%
High-School Grad
90.9 sq mi
ZIP Area
301
Density / Sq Mi
$99,709
Median Household Income
$49,530
Median Earnings
$1,925
Median Rent
$549,700
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium suite with built-in reception, multiple offices, an enclosed break area, and an interior ADA restroom with shower.
Where is this office units located?
The property is located at 1930 Tienda Drive Suite 201 Lodi, CA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Office condominium suite built in 2005 within Millsbridge Office Park; Suite 201 includes a built‑in reception desk plus two large offices, with one suitable for a conference room; Enclosed break area with granite countertops and a modular island for file preparation (removable for workstations)
