Steel Warehouse with Office
New
For Sale
$4,250,000
2050 Wardrobe Ave, Merced, CA 95341
Fenced industrial facility includes loading access, three-phase electrical service, administrative areas, and on-site parking.
Property Size60,000 SF
Lot Size4.90 Acres
Price / SF$70.83
Days on Market3
Property Features for 2050 Wardrobe Ave
General Information
Standard status
Active
Size
60,000 SF
Lot size
4.90 Acres
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
20,000 SF
Dock-High Doors
1
Drive-In Doors
4
Three-Phase Power
Yes
Building Details
Building Size
60,000 SF
Buildings
1
Construction
steel
Listing Agency:
(209) 383-2171
Listed By:
Loren Gonella
(209) 383-2171
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 10:42AM
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 Loren Gonella
Investment Insights
Based on property information with market context.
Located at 2050 Wardrobe Ave in Merced, California, this approximately 60,000 sq. ft. steel warehouse occupies 4.9 acres and combines substantial operational area with dedicated office space. The building includes 16-foot ceilings, four roll-up doors, one truck dock, and upgraded three-phase electrical service throughout. Approximately 20,000 sq. ft. is configured as office space for administrative functions, meetings, and related business operations.
The property includes a fully fenced lot, off-street parking, and numerous bathrooms. Its loading equipment, ceiling clearance, electrical infrastructure, and combination of warehouse and office areas provide a practical configuration for industrial operations, distribution, manufacturing, or other commercial uses. The site is recorded at 34 on Walk Score and 46 on Bike Score, characterized as car-dependent and somewhat bikeable.
The property includes a fully fenced lot, off-street parking, and numerous bathrooms. Its loading equipment, ceiling clearance, electrical infrastructure, and combination of warehouse and office areas provide a practical configuration for industrial operations, distribution, manufacturing, or other commercial uses. The site is recorded at 34 on Walk Score and 46 on Bike Score, characterized as car-dependent and somewhat bikeable.
Key Highlights
- Approximately 60,000 sq. ft. steel industrial building on 4.9 acres
- Approximately 20,000 sq. ft. of office space
- 16‑foot ceilings with four roll‑up doors
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
Fenced yard
Yes
Utilities to site
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Fenced industrial facility includes loading access, three-phase electrical service, administrative areas, and on-site parking.
Where is this warehouse located?
The property is located at 2050 Wardrobe Ave 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: Approximately 60,000 sq. ft. steel industrial building on 4.9 acres; Approximately 20,000 sq. ft. of office space; 16‑foot ceilings with four roll‑up doors
