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           Berger & Company CPA’s,   Hamilton Farms,  &  Piro Trading International

Real Estate

Below is detailed information on the Turlock Real Estate for Residential, Industrial and Commercial markets. If you are looking for someone to help you in the purchase of a new home or business please try one of our directory.

Sale of Exisiting Homes for Turlock, CA 

2011 2012 % Inc. Dec 2011 Dec 2012 % Inc.
Homes Sold 947 759 -19.85% 81 46 -43.21%
Average
Price $167,036 $ 174,772 4.63% $170,846 $   171,865 9.75%
Days on Market 73 68 -6.85% 80 78 -65.00%
Square Feet 1,753 1,765 0.68% 1,765 1,781 -2.10%
Price/Sq. Ft. $    95.29 $     99.02 3.92% $    96.80 $       96.50 12.10%
Median
Price $152,500 $ 160,000 4.92% $160,000 $   176,750 10.47%
Days on Market 41 27 -34.15% 42 10 -76.19%
Square Feet 1,597 1,596 -0.06% 1,636 1,639 0.18%
Price/Sq. Ft. $    95.49 $   100.25 4.98% $    97.80 $     107.84 10.27%
Bank Owned
Units Sold 422 182 27 4
% 44.56% 23.98% 33.33% 8.70%
Short Sales
Units Sold 228 294 24 21
% 24.08% 38.74% 29.63% 45.65%
Total Distressed 68.64% 62.71% 62.96% 54.35%
Source: Metro List Serivces - Sacramento 1/31/2013 - JLTheis

Commercial Sites

There are several areas in Turlock designated for retail and office uses including the downtown area, property along Highway99, Geer Road, Lander Avenue, Golden State Boulevard and the area near Emanuel Medical Center.  There has been substantial retail and office development near the intersection of Highway 99 and Monte Vista Avenue in the last 10 years that includes restaurants, Costco, Kohl’s, Target, Safeway, Ross, Home Depot, Lowes, banks, fast food and smaller retail and office uses.  New tenants include Blue Diamond Almonds and Olive Garden Restaurant.  Currently there have not been any other major announcements regarding new businesses locating in Turlock.

 

Land for retail and office development range in price from $2.50 to $20.00 foot depending on location, zoning, stage of development, and planned use. Lease rates for improved retail buildings range from $.60 per square foot, gross, to $2.25 per square foot, triple net.  The lower rates are predominantly in the downtown business district and are in buildings that are in need of renovation.  The higher rates are the newer areas with high traffic counts.

 

Rents had significantly come down over the last couple of years but have since stabilized.   Vacancy rates have stabilized as well and with the lowered rates and demand finally increasing there has been more commercial throughout Turlock.  County wide, the Stanislaus River Valley offers some of the most competitive land costs and lease rates in California.

Industrial Sites - Turlock Regional Industrial Park
The Turlock Regional Industrial Park includes 2,600 acres that will accommodate and nurture the development of a major industrial/commercial center in Turlock’s industrial west side. The City of Turlock developed the Master Planned Area to facilitate economic and job development through orderly growth and streamlined processes. The plan was prepared during a time of significant change in the structure of the national economy. Many types of manufacturing jobs have declined nationally or have been transferred elsewhere. However, the essential need for food and agricultural products indicate an opportunity to create a center for an enduring and sustainable economy based on agricultural products and related processes and services. It is anticipated that the benefits available from WISP and the Enterprise Zone will stimulate industrial development. In addition to the development of Turlock Regional Industrial Park, the city has invested more than $8 million in infrastructure to provide “shovel ready” sites for industrial development. During the next year, an additional $6 million is budgeted for WISP infrastructure improvement. The Turlock Regional Industrial Park is now home to such firms as US Cold Storage and Blue Diamond Growers.
       

 Land Use  Acres    % 
 Commercial/Office  123  4.9
 Community Commercial  102  4.0
 Industrial Business Park  283  11.2
 Industrial  1632  64.4
 Public  171   6.7
 Detention Basin  39  1.5
 Roads  185  7.3
 Total    2535  100

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