Multi-Tenant Light Industrial
For Sale
Contact for pricing
2455 Bates Ave, Concord, CA 94520
Light industrial warehouse with heavy power, multiple grade-level doors, and flexible suite configuration on a secured-yard capable site.
Property Size19,800 SF
Price / SF$199.49
Days on Market56
Property Features for 2455 Bates Ave
General Information
Standard status
Active
Size
19,800 SF
Property subtype
INDUSTRIAL
Listing Agency:
TRI Commercial | Walnut Creek
(925) 337-1288
Listed By:
Kate Wright · License #01997870
(925) 337-1288
Source:
Moodyscre
Added: Jun 12
Changed: Jul 10
Last Checked: Jul 21 at 6:09AM
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 TRI Commercial | Walnut Creek
Investment Insights
Based on property information with market context.
This light industrial warehouse totals 19,800 square feet and is set on a 10.92-acre corner parcel. The property includes a flexible multi-tenant layout with 14 suites, supporting either leasing flexibility or owner-user consolidation. Loading is supported by eight grade-level loading doors, and the facility offers functional clear heights ranging from 19 feet to 12 feet. Heavy power is available with 1,200 amp at 480V, 3-phase electrical service, and the site also includes dual water service with 3-inch total capacity. The building’s durable masonry and concrete construction is complemented by a fully serviced site with water, gas, and electricity.
The property is located in North Concord with excellent freeway access to Highway 4, Highway 242, and Interstate 680. Parking is available with 35 on-site spaces, plus 19 adjacent street parking spaces. A secured yard can be created by fencing and enclosing an area for storage, fleet parking, or other operational use.
Designed for industrial tenants that need reliable power and efficient loading, the 14-suite configuration can accommodate a range of operational footprints. With the ability to expand into a fenced yard and the presence of ample parking, the property can support light industrial uses that benefit from grade-level access, on-site services, and adaptable space planning.
The property is located in North Concord with excellent freeway access to Highway 4, Highway 242, and Interstate 680. Parking is available with 35 on-site spaces, plus 19 adjacent street parking spaces. A secured yard can be created by fencing and enclosing an area for storage, fleet parking, or other operational use.
Designed for industrial tenants that need reliable power and efficient loading, the 14-suite configuration can accommodate a range of operational footprints. With the ability to expand into a fenced yard and the presence of ample parking, the property can support light industrial uses that benefit from grade-level access, on-site services, and adaptable space planning.
Key Highlights
- ±19,800 SF light industrial warehouse on a ±10.92‑acre corner parcel (±40,050 SF).
- Heavy power: 1,200 amp / 480V, 3‑phase electrical service to support industrial users.
- 14‑suite multi‑tenant configuration for leasing flexibility or owner‑user consolidation.
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
$280,070
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
7.09%
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%
$5,601,400
$5.6M
Cap Rate 7%
$4,001,000
$4.0M
Cap Rate 9%
$3,111,889
$3.1M
Market Conditions
NOI Build-Up for 19,800 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
$351.6K $17.76/SF
− Vacancy
−$22.2K −$1.12/SF
EGI
$329.5K $16.64/SF
− OpEx
−$49.4K −$2.50/SF
NOI
$280.1K $14.14/SF
Area
Concord, CA
Vacancy
6.30%
Lease Rate
$17.76 /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%
$5,601,400
Cap Rate 7%
$4,001,000
Cap Rate 9%
$3,111,889
Alternative Uses
Best Use
Warehouse
$4.00M
$3.50M – $4.67M
NOI $280,070 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.84M
$4.24M – $5.65M
NOI $338,993 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94520, CA
38,383
Population
13,661
Households
2.8
Avg Household Size
35
Median Age
30%
College-Educated
79%
High-School Grad
9.9 sq mi
ZIP Area
3,877
Density / Sq Mi
$79,790
Median Household Income
$43,382
Median Earnings
$2,118
Median Rent
$572,400
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?
Warehouse - Light industrial warehouse with heavy power, multiple grade-level doors, and flexible suite configuration on a secured-yard capable site.
Where is this warehouse located?
The property is located at 2455 Bates Ave Concord, CA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: ±19,800 SF light industrial warehouse on a ±10.92‑acre corner parcel (±40,050 SF).; Heavy power: 1,200 amp / 480V, 3‑phase electrical service to support industrial users.; 14‑suite multi‑tenant configuration for leasing flexibility or owner‑user consolidation.
