Historic Church Property in
For Sale
$3,000,000
345 E Elm Street, Lodi, CA 95240
Unique 20,613 sq ft church with versatile space.
Property Size20,613 SF
Price / SF$145.54
Days on Market104
Property Features for 345 E Elm Street
General Information
Standard status
Active
Size
20,613 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1921
Listing Agency:
Real Brokerage Technologies, Inc.
(209) 304-0952
Listed By:
Cindy L. Borgerding · License #01941267
(209) 304-0952
Source:
Exitrealty
Added: May 13
Changed: Aug 23
Last Checked: Aug 23 at 7:08AM
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 Real Brokerage Technologies, Inc.
Investment Insights
Based on property information with market context.
This historic church property, originally built in 1921, is situated on three lots in Lodi and offers approximately 20,613 sq ft of space. The main sanctuary, encompassing approximately 4,640 square feet, features soaring ceilings, classic brick construction, and stained glass windows. An elevated balcony, formerly the choir area, adds to the building's character. The property includes an annex building with a smaller chapel, classrooms, bathrooms, and a large kitchen with an adjoining fellowship hall. A full basement provides ample storage space. The property offers potential for restoration, repurposing, or continued use as a place of assembly. Some deferred maintenance is present.
Key Highlights
- Expansive 20,613 sq ft property on three lots, offering versatile space.
- Historic 1921 church with unique architectural details and classic brick construction.
- Stunning 4,640 sq ft main sanctuary featuring stained glass windows and an elevated balcony.
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
$186,908
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
6.23%
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%
$3,738,160
$3.7M
Cap Rate 7%
$2,670,114
$2.7M
Cap Rate 9%
$2,076,756
$2.1M
Market Conditions
NOI Build-Up for 20,613 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
$321.6K $15.60/SF
− Vacancy
−$22.5K −$1.09/SF
EGI
$299.1K $14.51/SF
− OpEx
−$112.1K −$5.44/SF
NOI
$186.9K $9.07/SF
Area
San Joaquin County, CA
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$3,738,160
Cap Rate 7%
$2,670,114
Cap Rate 9%
$2,076,756
Alternative Uses
Best Use
Mixed Use
$2.67M
$2.34M – $3.12M
NOI $186,908 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $316,863 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 95240, CA
49,102
Population
17,304
Households
2.8
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
68.2 sq mi
ZIP Area
720
Density / Sq Mi
$76,870
Median Household Income
$38,359
Median Earnings
$1,439
Median Rent
$443,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Unique 20,613 sq ft church with versatile space.
Where is this church & religious facility located?
The property is located at 345 E Elm Street Lodi, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Expansive 20,613 sq ft property on three lots, offering versatile space.; Historic 1921 church with unique architectural details and classic brick construction.; Stunning 4,640 sq ft main sanctuary featuring stained glass windows and an elevated balcony.
