Mixed-Use Building with
For Sale
$3,000,000
101-111 W Main Street, Visalia, CA 93291
Commercial Sale, Visalia, CA
Property Size14,244 SF
Lot Size0.33 Acres
Price / SF$210.61
Days on Market115
Property Features for 101-111 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use Downtown Zone-(D-MU) https://codelibrary.amlegal.com/codes/visalia/latest/visalia_ca/0-0-0-34167
Directions
From CA 198 and Mineral King Ave. Head north on Court St. The property is front facing on Main St. Property is located on the corner of Main and Court.
Subdivision
Visalia SE
Standard status
Active
APN
094325003000
Size
14,244 SF
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Stucco
Roof type
Rolled Hot Mop, Mixed
Listing Agency:
Downtown Realty Luxury
(559) 740-7634
Listed By:
Josh Ormonde · License #02087097
(559) 737-1636
Added: Jun 1
Changed: Sep 16
Last Checked: Sep 23 at 9:06AM
MLS# 242058
Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this 14,244-square-foot mixed-use property includes five ground-floor retail units and 15 second-floor studio suites. The retail component is fully occupied, while eight of the studios are vacant, creating a combination of established occupancy and additional leasing capacity. The building has stucco construction, central heating and central air, a mixed rolled hot-mop roof, public water, and public sewer.
The property occupies a corner at Main and Court Street in downtown Visalia, with access from 101-111 W Main Street. Fifteen dedicated private parking spaces serve the building, an important on-site feature in the surrounding downtown setting. Existing commercial occupants include Cellar Door, Wimpy's Hamburgers, Root Lifestyle, Last Wave Tattoo, and Raphael's Jewelry.
The property occupies a corner at Main and Court Street in downtown Visalia, with access from 101-111 W Main Street. Fifteen dedicated private parking spaces serve the building, an important on-site feature in the surrounding downtown setting. Existing commercial occupants include Cellar Door, Wimpy's Hamburgers, Root Lifestyle, Last Wave Tattoo, and Raphael's Jewelry.
Key Highlights
- 14,244‑square‑foot mixed‑use building constructed in 1920
- Five ground‑floor retail units are fully occupied
- 15 second‑floor studio suites, including 8 vacant suites
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
$203,309
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
6.78%
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%
$4,066,180
$4.1M
Cap Rate 7%
$2,904,414
$2.9M
Cap Rate 9%
$2,258,989
$2.3M
Market Conditions
NOI Build-Up for 14,244 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
$307.7K $21.60/SF
− Vacancy
−$17.2K −$1.21/SF
EGI
$290.4K $20.39/SF
− OpEx
−$87.1K −$6.12/SF
NOI
$203.3K $14.27/SF
Area
Visalia, CA
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,066,180
Cap Rate 7%
$2,904,414
Cap Rate 9%
$2,258,989
Alternative Uses
Best Use
Retail
$2.90M
$2.54M – $3.39M
NOI $203,309 @ 7.0% cap · market cap 6.78%
Second Best
Mixed Use
$2.15M
$1.88M – $2.51M
NOI $150,417 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,143 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,263
Businesses Nearby
172k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 20%
Leisure 16%
Groceries 14%
Regal Cinemas Visalia 10
Leisure
27,649 visits/mo
0.2 miles
Smart & Final
Groceries
24,826 visits/mo
0.4 miles
Wells Fargo
Shops & Services
23,152 visits/mo
0.3 miles
Bank of America
Shops & Services
20,871 visits/mo
0.0 miles
Chase Bank
Shops & Services
18,433 visits/mo
0.1 miles
Demographics for 93291, CA
63,366
Population
19,866
Households
3.2
Avg Household Size
32
Median Age
24%
College-Educated
81%
High-School Grad
84.2 sq mi
ZIP Area
753
Density / Sq Mi
$81,502
Median Household Income
$41,778
Median Earnings
$1,331
Median Rent
$381,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level commercial property combines occupied storefronts with flexible studio suites and private on-site parking.
Where is this mixed-use property located?
The property is located at 101-111 W Main Street Visalia, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 14,244‑square‑foot mixed‑use building constructed in 1920; Five ground‑floor retail units are fully occupied; 15 second‑floor studio suites, including 8 vacant suites
