Steel Warehouse with Dock
For Sale
$4,250,000
2050 Wardrobe Avenue, Merced, CA 95341
Steel warehouse on 4.9 acres with 16-foot ceilings, three-phase power, and multiple roll-up doors.
Property Size60,000 SF
Lot Size4.90 Acres
Price / SF$70.83
Days on Market147
Property Features for 2050 Wardrobe Avenue
General Information
Standard status
Active
Size
60,000 SF
Lot size
4.90 Acres
Warehouse & Industrial
Clear Height
16 ft
Dock-High Doors
1
Drive-In Doors
4
Heavy Power
Yes
Additional Details
Fenced Yard
Yes
Building Details
Building Size
60,000 SF
Stories
1
Listing Agency:
Coldwell Banker Commercial Gonella Realty
Listed By:
Loren Gonella
(209) 383-2171
Source:
Evrealestate
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 4 at 3:45AM
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 Coldwell Banker Commercial Gonella Realty
Investment Insights
Based on property information with market context.
Steel warehouse building on 4.9 acres featuring 16-foot ceilings, three-phase power, and an upgraded electrical system throughout. The facility includes four roll-up doors and one truck dock, with a fenced lot and ample off-street parking. Interior amenities include approximately 20,000 square feet of office space and ample bathrooms to support day-to-day operations.
The property is offered for sale and includes both warehouse and office components within the same structure, providing a combined workspace and administrative area. With dock access, multiple loading doors, and substantial fenced outdoor space, the layout is suited for a range of industrial warehousing and distribution uses.
The building’s key functional features include dock access, office space, parking, and a fenced yard, supported by three-phase power and multiple roll-up doors.
The property is offered for sale and includes both warehouse and office components within the same structure, providing a combined workspace and administrative area. With dock access, multiple loading doors, and substantial fenced outdoor space, the layout is suited for a range of industrial warehousing and distribution uses.
The building’s key functional features include dock access, office space, parking, and a fenced yard, supported by three-phase power and multiple roll-up doors.
Key Highlights
- Steel warehouse on 4.9 acres with 16‑foot ceilings
- Three‑phase power and an upgraded electrical system throughout
- Warehouse includes four roll‑up doors plus a truck dock
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
$389,874
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
9.17%
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%
$7,797,480
$7.8M
Cap Rate 7%
$5,569,629
$5.6M
Cap Rate 9%
$4,331,933
$4.3M
Market Conditions
NOI Build-Up for 60,000 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
$597.6K $9.96/SF
− Vacancy
−$40.6K −$0.68/SF
EGI
$557.0K $9.28/SF
− OpEx
−$167.1K −$2.78/SF
NOI
$389.9K $6.50/SF
Area
Merced County, CA
Vacancy
6.80%
Lease Rate
$9.96 /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%
$7,797,480
Cap Rate 7%
$5,569,629
Cap Rate 9%
$4,331,933
Alternative Uses
Best Use
Flex RnD
$10.18M
$8.91M – $11.88M
NOI $712,858 @ 7.0% cap · market cap 16.77%
Second Best
Warehouse
$6.38M
$5.58M – $7.44M
NOI $446,252 @ 7.0% cap · market cap 10.50%
Theoretical Best
Healthcare Medical
$13.24M
$11.58M – $15.44M
NOI $926,640 @ 7.0% cap · market cap 21.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Dock-high doors
4
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95341, CA
33,194
Population
9,331
Households
3.6
Avg Household Size
29
Median Age
8%
College-Educated
63%
High-School Grad
146.8 sq mi
ZIP Area
226
Density / Sq Mi
$55,516
Median Household Income
$32,184
Median Earnings
$1,172
Median Rent
$295,300
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?
Flex space - Steel warehouse on 4.9 acres with 16-foot ceilings, three-phase power, and multiple roll-up doors.
Where is this flex space located?
The property is located at 2050 Wardrobe Avenue Merced, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Steel warehouse on 4.9 acres with 16‑foot ceilings; Three‑phase power and an upgraded electrical system throughout; Warehouse includes four roll‑up doors plus a truck dock
