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    Redeveloping Shopping Destination in Merced Title is generated by Realmo AI

    851 W Olive Ave, Merced, CA 95348

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    53-acre shopping center undergoing redevelopment for entertainment and services.

    Type:Retail
    Lot size:
    53.00 Acres
    Added:
    Jun 5, 2024
    Days on Market:
    727
    Last Refresh:
    May 12 at 10:45 pm

    Property Features for 851 W Olive Ave

    General Information

    Standard status
    Active
    Lot size
    53.00 Acres
    Property subtype
    Retail

    Spaces For Lease

    at 851 W Olive Ave Contact us

    Suite 714 $3/Mo

    Size
    872 SF
    Type
    Retail
    Available with 30 days notice.
    Contact us

    Suite 292 $2/Mo

    Size
    1,935 SF
    Type
    Retail
    Available with 45 days' notice.
    Contact us

    Suite 760 $1.95/Mo

    Size
    9,986 SF
    Type
    Retail
    Contact us

    Suite 709 $3/Mo

    Size
    468 SF
    Type
    Retail
    Contact us

    Suite 285 $2/Mo

    Size
    1,529 SF
    Type
    Retail
    Available with 30 days notice.
    Contact us

    Suite 740 $2/Mo

    Size
    2,377 SF
    Type
    Retail
    Contact us

    Suite 230 $2/Mo

    Size
    4,573 SF
    Type
    Retail
    Available with 45 days' notice.
    Contact us

    Suite 610 $2/Mo

    Size
    1,800 SF
    Type
    Retail
    Available with 30 days' notice.
    Contact us

    Suite 220 $2/Mo

    Size
    3,031 SF
    Type
    Retail
    Available with 45 days' notice.
    Contact us

    Suite 240 $2/Mo

    Size
    3,183 SF
    Type
    Retail
    Available with 30 days' notice.
    Contact us

    Suite 706 $3/Mo

    Size
    599 SF
    Type
    Retail
    Contact us

    Suite 270 $2/Mo

    Size
    3,862 SF
    Type
    Retail
    Available with 30 days' notice.
    Contact us

    Suite 250 $2/Mo

    Size
    6,175 SF
    Type
    Retail
    Contact us

    Suite 200 $2/Mo

    Size
    3,321 SF
    Type
    Retail
    Contact us

    Suite 700 $3/Mo

    Size
    2,271 SF
    Type
    Retail
    Contact us

    Suite 707 $2/Mo

    Size
    975 SF
    Type
    Retail
    Contact us
    Show more

    We can help!

    Listing Contact
    Joey Chiurazzi

    Listing agent Joey Chiurazzi License #02123466

    Listing office Ethan Conrad Properties Inc

    Listing date Jun 5, 2024

    Source Crexi

    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 Ethan Conrad Properties Inc

    HighLights

    • Major redevelopment underway to enhance long‑term market dominance.
    • Located in a rapidly growing region of Central California with projected significant population growth.
    • Anchored by major national tenants like Target, JCPenney, and Kohl's.
    • New leases signed with Vallarta Market, Crunch Fitness, and Raising Cane's.
    • Boot Barn and Shoe Palace are now open.
    • Close proximity to Merced College and surrounded by a dense residential population.

    Overview

    Marketplace at Merced is undergoing a major redevelopment to ensure its long term dominance in the market. The 53-acre shopping destination will move towards becoming more entertainment and service-driven, which will result in more foot traffic and repeat customers. The city of Merced is located in the rapidly growing Central region of California and is projected to experience significant population growth. California’s population is estimated to grow by over 10 million people by 2030, and the San Joaquin Valley is expected to see a significant portion of this growth. Major surrounding national tenants include Target, JCPenney, Kohl’s, and Michael’s. Vallarta Market, Crunch Fitness, and Raising Cane's leases have been signed. Boot Barn and Shoe Palace are now open. The property is in close proximity to Merced College and surrounded by a dense residential population.
    Location Intelligence

    Current Use by Public Records

    Marketplace at Merced Shopping Center & Mall MEHRAN'S JEWELERS (Bike/Boat/Book/etc) Store Sandy Sweets Grocery & Convenience Store Cell Gallery - phone ... Computer & Electronic Repair Claire's Tattoo & Piercing Shop

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Save Mart, 150 W Olive Ave, Merced, CA 95348
    • Bear Creek Village Shopping Center — E North Bear Creek Dr, Merced, CA 95348
    • College Green Shopping Center — 10 W Olive Ave, Merced, CA 95348
    • london plaza — 53 W Alexander Ave, Merced, CA 95348

    Location Insight

    • Map
    • Local Demand
    City
    Merced
    County
    Merced
    State
    California
    Longitude
    -120.461769
    Latitude
    37.318741

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    FAQs

    What type of property is this?
    Shopping center - 53-acre shopping center undergoing redevelopment for entertainment and services.
    Where is this shopping center located?
    The property is located at 851 W Olive Ave Merced, CA.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Major redevelopment underway to enhance long‑term market dominance.; Located in a rapidly growing region of Central California with projected significant population growth.; Anchored by major national tenants like Target, JCPenney, and Kohl's.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joey Chiurazzi
    Real Estate License ID: 02123466
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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