Office Building with Reception and
For Sale
$275,000
114 S Stevenson Street, Visalia, CA 93291
COMMERCIAL - Visalia, CA
Property Size800 SF
Lot Size0.07 Acres
Price / SF$343.75
Days on Market157
Property Features for 114 S Stevenson Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
D-MU (Downtown-Mixed Use)
Directions
South Mooney Blvd, Turns into W Main St, Right on S Stevenson St
Subdivision
Visalia NW
Standard status
Active
APN
093197006000
Size
800 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1900
Roof type
Composition
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Mitch Choboian · License #00801984
(559) 686-8595
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 13 at 12:06PM
MLS# 240252
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.
Located at 114 S Stevenson Street in Visalia, this office building is approximately 800 square feet on a 0.07-acre lot. Inside, the layout includes two office areas, a welcoming reception area, and a small breakroom.
The property is currently being used as a permanent makeup studio, and the configuration is also described as suitable for a range of professional uses such as a dental office, law firm, or real estate agency.
For buyers or tenants looking for a compact office setting with a client-facing reception area and an employee breakroom, this building offers a straightforward, flexible interior for professional services.
The property is currently being used as a permanent makeup studio, and the configuration is also described as suitable for a range of professional uses such as a dental office, law firm, or real estate agency.
For buyers or tenants looking for a compact office setting with a client-facing reception area and an employee breakroom, this building offers a straightforward, flexible interior for professional services.
Key Highlights
- Prime downtown Visalia location.
- Versatile office building suitable for various professional uses (dental, law, real estate, etc.).
- Interior includes a reception area and breakroom.
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
$12,656
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
4.60%
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%
$253,120
$253.1K
Cap Rate 7%
$180,800
$180.8K
Cap Rate 9%
$140,622
$140.6K
Market Conditions
NOI Build-Up for 800 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
$21.1K $26.40/SF
− Vacancy
−$4.2K −$5.31/SF
EGI
$16.9K $21.09/SF
− OpEx
−$4.2K −$5.27/SF
NOI
$12.7K $15.82/SF
Area
Visalia, CA
Vacancy
20.10%
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%
$253,120
Cap Rate 7%
$180,800
Cap Rate 9%
$140,622
Alternative Uses
Best Use
Office B
$180.8K
$158.2K – $210.9K
NOI $12,656 @ 7.0% cap · market cap 4.60%
Second Best
Healthcare Medical
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$219.2K
$191.8K – $255.7K
NOI $15,341 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,822
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Well-suited office building with a reception area and small breakroom, currently operating as a permanent makeup studio.
Where is this office units located?
The property is located at 114 S Stevenson Street Visalia, CA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Prime downtown Visalia location.; Versatile office building suitable for various professional uses (dental, law, real estate, etc.).; Interior includes a reception area and breakroom.
