Industrial Flex Office and
For Sale
$850,000
Pending
612 Commerce Ct, Manteca, CA 95336
Heavy industrial flex building with an office reception area, conference room, and an attached sprinklered warehouse with grade-level roll-up door.
Property Size2,000 SF
Days on Market305
Property Features for 612 Commerce Ct
General Information
Standard status
Pending
Size
2,000 SF
Zoning
M2
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Amenities
reception area
office
training/conference room
Listing Agency:
Liddicoat CRE, Inc.
Listed By:
Delora Diaz Liddicoat
9159913
Source:
Exprealty
Added: Nov 4, 2025
Changed: Aug 20
Last Checked: Sep 5 at 9:59AM
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 Liddicoat CRE, Inc.
Investment Insights
Based on property information with market context.
This heavy industrial flex building is zoned M2 (City of Manteca). The property includes a welcoming reception area with office space and a large training/conference room, along with attached warehouse space that is insulated and equipped with sprinklers. A grade-level roll-up door provides warehouse access (approximately 12x14), and the warehouse area is approximately 2,000 square feet.
The site offers direct freeway visibility via Highway 99, supporting strong on-site presentation for day-to-day operations. HOA fees include water, sewer, trash, CAM, roof, and exterior.
For additional details, information, and to schedule a tour, contact the listing agent. Tenants are onsite; please do not disturb them.
The site offers direct freeway visibility via Highway 99, supporting strong on-site presentation for day-to-day operations. HOA fees include water, sewer, trash, CAM, roof, and exterior.
For additional details, information, and to schedule a tour, contact the listing agent. Tenants are onsite; please do not disturb them.
Key Highlights
- M2 zoning (heavy industrial) in the City of Manteca—contact the City for zoning details
- Direct freeway visibility on Highway 99
- Reception area with office and a large training/conference room
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
$28,099
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
3.31%
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%
$561,980
$562.0K
Cap Rate 7%
$401,414
$401.4K
Cap Rate 9%
$312,211
$312.2K
Market Conditions
NOI Build-Up for 2,000 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
$34.1K $17.04/SF
− Vacancy
−$1.0K −$0.51/SF
EGI
$33.1K $16.53/SF
− OpEx
−$5.0K −$2.48/SF
NOI
$28.1K $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%
$561,980
Cap Rate 7%
$401,414
Cap Rate 9%
$312,211
Alternative Uses
Best Use
Warehouse
$401.4K
$351.2K – $468.3K
NOI $28,099 @ 7.0% cap · market cap 3.31%
Second Best
Flex RnD
$334.5K
$292.7K – $390.3K
NOI $23,416 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,744 @ 7.0% cap · market cap 3.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95336, CA
47,281
Population
16,889
Households
2.8
Avg Household Size
39
Median Age
16%
College-Educated
85%
High-School Grad
38.3 sq mi
ZIP Area
1,234
Density / Sq Mi
$86,411
Median Household Income
$45,653
Median Earnings
$1,774
Median Rent
$522,800
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?
Flex space - Heavy industrial flex building with an office reception area, conference room, and an attached sprinklered warehouse with grade-level roll-up door.
Where is this flex space located?
The property is located at 612 Commerce Ct Manteca, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: M2 zoning (heavy industrial) in the City of Manteca—contact the City for zoning details; Direct freeway visibility on Highway 99; Reception area with office and a large training/conference room
