Industrial Warehouse with Covered
For Sale
$1,750,000
2161 L Street, Newman, CA 95360
Industrial-zoned warehouse with open and covered exterior areas.
Property Size13,080 SF
Days on Market45
Property Features for 2161 L Street
General Information
Standard status
Active
Size
13,080 SF
Zoning
Industrial
Net Operating Income
$48,000
Amenities
1 Restroom Per Unit, 12 to 18 Ft Ceilings, Sprinkler System Lawn, Landscaping
Other
Open, Covered
Building Details
Building Size
13,080 SF
Year Built
2016
Stories
1
Listing Agency:
PMZ Real Estate
(209) 535-3680
Listed By:
Tracee L. Storms · License #01219524
(209) 535-3680
Source:
Evrealestate
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 29 at 9:31PM
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 Real Estate
Investment Insights
Based on property information with market context.
Built in 2016, this warehouse property offers a combination of enclosed building space and exterior areas identified as open and covered. The asset carries Industrial zoning and is positioned on L Street in Newman, California.
Access is provided from Inyo Avenue by traveling south on L Street, with the property located at the end of the road on the right. The address is 2161 L Street, Newman, CA 95360.
Access is provided from Inyo Avenue by traveling south on L Street, with the property located at the end of the road on the right. The address is 2161 L Street, Newman, CA 95360.
Key Highlights
- Industrial zoning supports warehouse‑oriented use
- Built in 2016
- Open and covered exterior areas
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
$95,259
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
5.44%
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%
$1,905,180
$1.9M
Cap Rate 7%
$1,360,843
$1.4M
Cap Rate 9%
$1,058,433
$1.1M
Market Conditions
NOI Build-Up for 13,080 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
$117.7K $9.00/SF
− Vacancy
−$5.7K −$0.43/SF
EGI
$112.1K $8.57/SF
− OpEx
−$16.8K −$1.29/SF
NOI
$95.3K $7.28/SF
Area
Stanislaus County, CA
Vacancy
4.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,905,180
Cap Rate 7%
$1,360,843
Cap Rate 9%
$1,058,433
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,259 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.08M
$5.32M – $7.09M
NOI $425,563 @ 7.0% cap · market cap 24.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95360, CA
13,892
Population
4,556
Households
3
Avg Household Size
33
Median Age
9%
College-Educated
74%
High-School Grad
61.8 sq mi
ZIP Area
225
Density / Sq Mi
$74,006
Median Household Income
$41,145
Median Earnings
$1,244
Median Rent
$385,500
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.
Similar Off Market Nearby
- YANCEY STORAGE — Inyo Ave, Newman, CA 95360
- Newman Mini Storage — 1558 N St, Newman, CA 95360
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial-zoned warehouse with open and covered exterior areas.
Where is this warehouse located?
The property is located at 2161 L Street Newman, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Industrial zoning supports warehouse‑oriented use; Built in 2016; Open and covered exterior areas
