Medical Office Condo
For Sale
$877,500
3351 M, Merced, CA 95348
Office condo with reception, waiting room, five private offices, procedure rooms, and patient rooms, plus nurse stations.
Property Size3,510 SF
Price / SF$250
Days on Market34
Property Features for 3351 M
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Office
Amenities
3
Irregular
Irregular.
Listing Agency:
CB Commercial, Select Real Estate
(209) 725-7253
Listed By:
Loren Gonella · License #00575211
Source:
Xome
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 11 at 5:16AM
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 CB Commercial, Select Real Estate
Investment Insights
Based on property information with market context.
This well-appointed medical/professional office condo is configured with a welcoming reception area and comfortable waiting room. The interior layout includes five private offices, a dedicated doctor’s office, three procedure rooms, and six patient rooms, along with a nurse’s station and private nurse’s office. The suite also provides patient and employee restrooms, a breakroom, and ample storage.
The property is located at 3351 M Unit 205 in Merced, CA, positioned on a high-traffic arterial street with visibility and accessibility for both clients and staff. The offering notes ample parking for day-to-day operations.
The space is currently arranged to accommodate a hearing aid practice, with additional office space available within the overall layout.
The property is located at 3351 M Unit 205 in Merced, CA, positioned on a high-traffic arterial street with visibility and accessibility for both clients and staff. The offering notes ample parking for day-to-day operations.
The space is currently arranged to accommodate a hearing aid practice, with additional office space available within the overall layout.
Key Highlights
- Office condo with reception and waiting room
- Includes five private offices plus a dedicated doctor’s office
- Exam/procedure space: three procedure rooms and six patient rooms
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
$54,208
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
6.18%
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%
$1,084,160
$1.1M
Cap Rate 7%
$774,400
$774.4K
Cap Rate 9%
$602,311
$602.3K
Market Conditions
NOI Build-Up for 3,510 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
$105.3K $30.00/SF
− Vacancy
−$15.0K −$4.26/SF
EGI
$90.3K $25.74/SF
− OpEx
−$36.1K −$10.30/SF
NOI
$54.2K $15.44/SF
Area
Merced County, CA
Vacancy
14.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,084,160
Cap Rate 7%
$774,400
Cap Rate 9%
$602,311
Alternative Uses
Best Use
Healthcare Medical
$774.4K
$677.6K – $903.5K
NOI $54,208 @ 7.0% cap · market cap 6.18%
Second Best
Office B
$94.3K
$82.6K – $110.1K
NOI $6,604 @ 7.0% cap · market cap 0.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,419
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95348, CA
35,066
Population
12,173
Households
2.9
Avg Household Size
30
Median Age
19%
College-Educated
80%
High-School Grad
59.0 sq mi
ZIP Area
594
Density / Sq Mi
$63,618
Median Household Income
$40,171
Median Earnings
$1,498
Median Rent
$352,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office condo with reception, waiting room, five private offices, procedure rooms, and patient rooms, plus nurse stations.
Where is this medical office space located?
The property is located at 3351 M Merced, CA.
What is the asking price?
The asking price for this property is $877,500.
What are key features of this property?
This property features: Office condo with reception and waiting room; Includes five private offices plus a dedicated doctor’s office; Exam/procedure space: three procedure rooms and six patient rooms
