Fenced Light Industrial
For Sale
$695,000
Pending
3118 West Avenue, Ceres, CA 95307
M-1 zoning supports a range of industrial applications, with utilities available at the street for connection.
Property Size6,000 SF
Lot Size0.32 Acres
Days on Market109
Property Features for 3118 West Avenue
General Information
Standard status
Pending
Size
6,000 SF
Lot size
0.32 Acres
Property subtype
Commercial/Industrial
Zoning
M-1 Light Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Warehouse Space
6,000 SF
Building Details
Year Built
1985
Buildings
1
Building Size
6,000 SF
Listing Agency:
PMZ Commercial Real Estate
(209) 345-8209
Listed By:
Jordan R. Amarant · License #01911219
(209) 345-8209
Source:
Exitrealty
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 12:54PM
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
Investment Insights
Based on property information with market context.
Located at 3118 West Avenue in Ceres, this warehouse property includes a 6,000 sf building constructed in 1985 and positioned on a 13,939 sf fenced and gated lot. The building is described as being in good condition and currently has no restroom or office area. Utilities are available at the street, allowing for a custom interior buildout.
The property offers quick access to Hwy 99 and includes secured outdoor area that can support warehousing, contractor operations, distribution, or other industrial activities. M-1 Light Industrial zoning allows for a variety of uses, subject to confirmation with the City of Ceres planning department. The neighboring 27,006 sf fenced lot at 3102 & 3106 West Ave is also available for purchase, offering the potential for additional storage or yard space.
The property offers quick access to Hwy 99 and includes secured outdoor area that can support warehousing, contractor operations, distribution, or other industrial activities. M-1 Light Industrial zoning allows for a variety of uses, subject to confirmation with the City of Ceres planning department. The neighboring 27,006 sf fenced lot at 3102 & 3106 West Ave is also available for purchase, offering the potential for additional storage or yard space.
Key Highlights
- 6,000 sf warehouse building on a 13,939 sf fenced and gated lot
- Constructed in 1985 and described as being in good condition
- M‑1 Light Industrial zoning allows for a variety of uses
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
$43,697
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
6.29%
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%
$873,940
$873.9K
Cap Rate 7%
$624,243
$624.2K
Cap Rate 9%
$485,522
$485.5K
Market Conditions
NOI Build-Up for 6,000 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
$54.0K $9.00/SF
− Vacancy
−$2.6K −$0.43/SF
EGI
$51.4K $8.57/SF
− OpEx
−$7.7K −$1.29/SF
NOI
$43.7K $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%
$873,940
Cap Rate 7%
$624,243
Cap Rate 9%
$485,522
Alternative Uses
Best Use
Warehouse
$624.2K
$546.2K – $728.3K
NOI $43,697 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,212 @ 7.0% cap · market cap 28.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95307, CA
46,346
Population
13,221
Households
3.5
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
32.8 sq mi
ZIP Area
1,413
Density / Sq Mi
$77,101
Median Household Income
$37,567
Median Earnings
$1,455
Median Rent
$402,300
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
- AAA Ceres Self Storage — 1777 Kinser Rd, Ceres, CA 95307
- Silo Mini Storage — 1940 Kinser Rd # A, Ceres, CA 95307
- May Transfer & Warehouse — 2209 Fairview Dr, Ceres, CA 95307
- Heritage Self Storage Fairview with FREE Truck Use and 24-Hour Access — 2105 Fairview Dr, Ceres, CA 95307
Frequently Asked Questions
What type of property is this?
Warehouse - M-1 zoning supports a range of industrial applications, with utilities available at the street for connection.
Where is this warehouse located?
The property is located at 3118 West Avenue Ceres, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 6,000 sf warehouse building on a 13,939 sf fenced and gated lot; Constructed in 1985 and described as being in good condition; M‑1 Light Industrial zoning allows for a variety of uses
