Building Details

Floors in Building 1

Roof type Flat

Listing Agency: Century 21 Select Real Estate · Century 21 Real Estate Show Phone

Listed By: Joanne Oh Show Phone

Added: Mar 18 Changed: Sep 8 Last Checked: Sep 8 at 10:06PM

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MLS# 645634

Copyright © 2026 Fresno Association of Realtors. 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.

This commercial restaurant property is offered for sale in Avenal, California. The building size is approximately 2,500 square feet, situated on a 0.0781-acre lot.

The property address is 255 E Kings Street in Avenal (Kings County), making it a straightforward option for buyers looking for an existing restaurant-oriented asset in the area.

The available information describes the property as a conventional restaurant/commercial real estate offering; no additional improvements, unit mix, or operational details are provided.

Key Highlights

• Roof type: flat

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

$31,039

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

5.64%

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%

$620,780 $620.8K

Cap Rate 7%

$443,414 $443.4K

Cap Rate 9%

$344,878 $344.9K

Market Conditions

NOI Build-Up for 2,500 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

$43.2K $17.28/SF

− Vacancy

−$1.8K −$0.73/SF

EGI

$41.4K $16.55/SF

− OpEx

−$10.3K −$4.14/SF

NOI

$31.0K $12.42/SF

Area

Kings County, CA

Vacancy

4.20%

Lease Rate

$17.28 /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%

$620,780

Cap Rate 7%

$443,414

Cap Rate 9%

$344,878

Alternative Uses

Best Use

Specialty Retail

$443.4K

$388.0K – $517.3K (±1% cap)

NOI $31,039 @ 7.0% cap · market cap 5.64%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$789.9K

$691.1K – $921.5K (±1% cap)

NOI $55,290 @ 7.0% cap · market cap 10.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Subway Take-out & Catering

Suggested Use

Top Pick Spa & Massage Center Building Supply Nail Salon Hair Salon Electrical Service HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

260

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 93204, CA

13,720

Population

3,085

Households

4.4

Avg Household Size

35

Median Age

4%

College-Educated

51%

High-School Grad

70.6 sq mi

ZIP Area

194

Density / Sq Mi

$52,986

Median Household Income

$30,199

Median Earnings

$1,060

Median Rent

$224,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Restaurant property offered for sale in Avenal with approximately 2,500 square feet on a 0.0781-acre lot.

Where is this conventional restaurant located?

The property is located at 255 E Kings Street Avenal, CA.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Roof type: flat