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    Multi-Tenant Medical Office Building For Sale Title is generated by Realmo AI

    2020 Colorado Avenue, Turlock, CA 95382

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    For Sale
    $1,850,000

    Multi-tenant medical office building near Emmanuel Medical Center.

    Type:Industrial
    Property size:
    5,130 SF
    Price / SF:
    $360/SF
    Added:
    Aug 26, 2025
    Days on Market:
    278
    Last Refresh:
    May 19 at 8:47 pm

    Property Features for 2020 Colorado Avenue

    General Information

    Standard status
    Active
    Size
    5,130 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1999

    We can help!

    Listing Contact
    Jordan Amarant

    Listing agent Jordan Amarant License #3547963

    Listing office PMZ Commercial Real Estate

    Listing date Aug 26, 2025

    Source Kw

    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 Real Estate

    HighLights

    • Rare opportunity to acquire a well‑maintained, income‑producing medical office building in a desirable location.
    • Strong existing tenancy with a national credit medical tenant (Hanger Clinic) in place through April 30, 2029, including 3% annual increases and two, five‑year extension options.
    • Suite A (3,617 SF) offers a future opportunity for medical practice occupancy upon lease expiration of current tenant (Turlock Eye Care) on July 1, 2026.
    • Immediate proximity to Emmanuel Medical Center.
    • High‑quality finishes throughout the 5,130 SF building.
    • Durable tile roof.

    Overview

    This multi-tenant medical office building, constructed in 1999, offers 5,130 square feet of space with high-quality finishes and a durable tile roof. The property is located in close proximity to Emmanuel Medical Center and is suitable for medical or healthcare use. Suite A, comprising 3,617 square feet, is currently occupied by Turlock Eye Care, with a lease expiring on July 1, 2026. This presents an opportunity for a medical practice to purchase the suite and prepare for occupancy. Suite B, consisting of 1,513 square feet, is occupied by Hanger Clinic, a national credit medical tenant. Their lease expires on April 30, 2029, and includes 3% annual increases and two five-year extension options. This well-maintained and functional medical office building offers income-producing potential in a desirable location.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $230.9k $45.00
    − Vacancy −$32.8k −$6.39
    EGI $198.1k $38.61
    − OpEx −$49.5k −$9.65
    NOI $148.6k $28.96
    5,130 SF · lease $45.00/SF/yr · vacancy 14.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.12M
    $1.86M – $2.48M (±1% cap)
    NOI $148,552 @ 7.0% cap · market cap 8.03%
    Second Best
    Healthcare Medical
    $1.06M
    $925.9K – $1.23M (±1% cap)
    NOI $74,075 @ 7.0% cap · market cap 4.00%
    Theoretical Best
    Office A
    $2.38M
    $2.09M – $2.78M (±1% cap)
    NOI $166,906 @ 7.0% cap · market cap 9.02%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hanger Clinic: Prosthetics ... Orthotics & Prosthetics Service Turlock Eyecare Optometry Physician Alan R. Julien, ... Physician Dr. JP Hamel Physician Dr. Collin Robillard Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Monte Vista Small Animal Hospital — 901 E Monte Vista Ave, Turlock, CA 95382
    • Ichord Andrew DVM — 901 E Monte Vista Ave, Turlock, CA 95382
    • Samuel Villegas - Monte Vista Small Animal Hospital — 901 E Monte Vista Ave, Turlock, CA 95382
    • Becky Lee - Monte Vista Small Animal Hospital — 901 E Monte Vista Ave, Turlock, CA 95382
    • Erin Cassiday - Monte Vista Small Animal Hospital — 901 E Monte Vista Ave, Turlock, CA 95382

    Location Insight

    • Map
    • Local Demand
    City
    Turlock
    County
    Stanislaus
    State
    California
    Longitude
    -120.8349348
    Latitude
    37.5114716

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    FAQs

    What type of property is this?
    Medical Office Space - Multi-tenant medical office building near Emmanuel Medical Center.
    Where is this medical office space located?
    The property is located at 2020 Colorado Avenue Turlock, CA.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Rare opportunity to acquire a well‑maintained, income‑producing medical office building in a desirable location.; Strong existing tenancy with a national credit medical tenant (Hanger Clinic) in place through April 30, 2029, including 3% annual increases and two, five‑year extension options.; Suite A (3,617 SF) offers a future opportunity for medical practice occupancy upon lease expiration of current tenant (Turlock Eye Care) on July 1, 2026.
    (863) 440-4092
    We can help!
    Listing Contact
    Jordan Amarant
    Real Estate License ID: 3547963
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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