Flex Warehouse with Two
For Sale
$699,000
529 N Hutchins Street, Lodi, CA 95240
Two flex warehouse units offer front office space, rear storage, split HVAC, and rear garage-door access to fenced parking.
Property Size2,400 SF
Price / SF$291.25
Days on Market35
Property Features for 529 N Hutchins Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial/Industrial
Additional Details
Fenced Yard
Yes
Drive-In Doors
2
Building Details
Year Built
1954
Tenancy
Multi
Listing Agency:
PMZ Real Estate
(209) 479-5096
Listed By:
Linda Weeks · License #00869511
(209) 479-5096
Source:
Exitrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 9:36AM
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.
This for-sale flex warehouse property consists of a 2,400-square-foot building divided into two approximately 1,200-square-foot units. Each unit features a dedicated front office area with warehouse or storage space toward the rear, along with split-system HVAC. Convenient rear access is provided via a rear garage door leading to a fenced parking area. One of the units includes a bathroom.
The building supports deliveries and service operations with easy alley access. Parking is available along the street in front for customers, and there is additional secure, fenced parking behind the building suitable for work trucks, trailers, and equipment storage.
Located at 529 N Hutchins St in Lodi, this configuration is well-suited for an owner-operator plan where one unit can be used while the other can be leased.
The building supports deliveries and service operations with easy alley access. Parking is available along the street in front for customers, and there is additional secure, fenced parking behind the building suitable for work trucks, trailers, and equipment storage.
Located at 529 N Hutchins St in Lodi, this configuration is well-suited for an owner-operator plan where one unit can be used while the other can be leased.
Key Highlights
- 2,400‑SF commercial building divided into two approximately 1,200‑SF units for flexible use
- Each unit has a dedicated front office with warehouse/storage space in the rear
- Split‑system HVAC in both units
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
$33,719
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
4.82%
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%
$674,380
$674.4K
Cap Rate 7%
$481,700
$481.7K
Cap Rate 9%
$374,656
$374.7K
Market Conditions
NOI Build-Up for 2,400 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
$40.9K $17.04/SF
− Vacancy
−$1.2K −$0.51/SF
EGI
$39.7K $16.53/SF
− OpEx
−$6.0K −$2.48/SF
NOI
$33.7K $14.05/SF
Area
San Joaquin County, CA
Vacancy
3.00%
Lease Rate
$17.04 /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%
$674,380
Cap Rate 7%
$481,700
Cap Rate 9%
$374,656
Alternative Uses
Best Use
Warehouse
$481.7K
$421.5K – $562.0K
NOI $33,719 @ 7.0% cap · market cap 4.82%
Second Best
Flex RnD
$401.4K
$351.2K – $468.3K
NOI $28,099 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$527.0K
$461.2K – $614.9K
NOI $36,893 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,640
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two flex warehouse units offer front office space, rear storage, split HVAC, and rear garage-door access to fenced parking.
Where is this flex space located?
The property is located at 529 N Hutchins Street Lodi, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,400‑SF commercial building divided into two approximately 1,200‑SF units for flexible use; Each unit has a dedicated front office with warehouse/storage space in the rear; Split‑system HVAC in both units
