Commercial Land with Existing
For Sale
$1,699,000
854 Crows Landing Road, Modesto, CA 95351
Multiple existing structures include offices, a mechanic shop, garage, and small home.
Property Size7,000 SF
Price / SF$242.71
Days on Market648
Property Features for 854 Crows Landing Road
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail
Amenities
3
C-2; R-1
Public.
Building Details
Year Built
1980
Listing Agency:
Gil's Real Estate
2269649
Listed By:
Ricardo Gil · License #01800755
2269649
Source:
Xome
Added: Nov 21, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:16PM
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 Gil's Real Estate
Investment Insights
Based on property information with market context.
This commercial land holding includes several existing improvements: a large office building, a smaller office, a mechanic shop, a home, and a garage. The improvements total over 7,000 sq ft, with the mechanic shop and garage at 121 Pecos measuring 2,500 sq ft. The property was built in 1980 and may support continued use of the existing structures or future redevelopment.
The assemblage includes 30,000 sq. ft. zoned C-2 (General Commercial) with 170' of frontage on Crows Landing Road, along with 21,415 sq. ft. and 85,000 sq. ... ft. zoned R-1 (Residential). The 21,415 sq. ft. area is currently used as C-2 under a legal, non-conforming use, while the larger R-1 portion extends to S 7th St. A lot line adjustment and rezoning could create a rectangular lot of 3/4 ac. +. Planning staff would support a rezoning and land use amendment to C-2.
The assemblage includes 30,000 sq. ft. zoned C-2 (General Commercial) with 170' of frontage on Crows Landing Road, along with 21,415 sq. ft. and 85,000 sq. ... ft. zoned R-1 (Residential). The 21,415 sq. ft. area is currently used as C-2 under a legal, non-conforming use, while the larger R-1 portion extends to S 7th St. A lot line adjustment and rezoning could create a rectangular lot of 3/4 ac. +. Planning staff would support a rezoning and land use amendment to C-2.
Key Highlights
- 30,000 sq. ft. zoned C‑2 (General Commercial)
- 170' of frontage on Crows Landing Road
- 21,415 sq. ft. zoned R‑1, currently used as C‑2 under a legal non‑conforming use
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
$117,810
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
6.93%
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%
$2,356,200
$2.4M
Cap Rate 7%
$1,683,000
$1.7M
Cap Rate 9%
$1,309,000
$1.3M
Market Conditions
NOI Build-Up for 7,000 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
$184.8K $26.40/SF
− Vacancy
−$27.7K −$3.96/SF
EGI
$157.1K $22.44/SF
− OpEx
−$39.3K −$5.61/SF
NOI
$117.8K $16.83/SF
Area
Modesto, CA
Vacancy
15.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,356,200
Cap Rate 7%
$1,683,000
Cap Rate 9%
$1,309,000
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,810 @ 7.0% cap · market cap 6.93%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,564 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,640 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 95351, CA
48,668
Population
13,631
Households
3.6
Avg Household Size
32
Median Age
8%
College-Educated
63%
High-School Grad
8.9 sq mi
ZIP Area
5,468
Density / Sq Mi
$56,869
Median Household Income
$31,732
Median Earnings
$1,376
Median Rent
$315,700
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?
Commercial land - Multiple existing structures include offices, a mechanic shop, garage, and small home.
Where is this commercial land located?
The property is located at 854 Crows Landing Road Modesto, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 30,000 sq. ft. zoned C‑2 (General Commercial); 170' of frontage on Crows Landing Road; 21,415 sq. ft. zoned R‑1, currently used as C‑2 under a legal non‑conforming use
