Flex Building with Service
For Sale
$925,000
Pending
654 E Terra Bella Avenue, Pixley, CA 93256
COMMERCIAL - Pixley, CA
Property Size3,891 SF
Lot Size0.63 Acres
Days on Market79
Property Features for 654 E Terra Bella Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Bathrooms
1
Half bathrooms
2
Rooms
Laundry Room, Bathroom 2, Bathroom 1
Security features
Security System
Appliances
Exhaust Fan, Water Heater
Lot features
Fencing
Directions
Coming From the North. South on State Route 99. Exit on 70A off ramp, north on Main ST, East on E Terra Bella Ave. cross over the 99, past S Park Dr. Property will be on the North Side
Subdivision
Pixley
Standard status
Pending
APN
299131029000
Size
3,891 SF
Lot size
0.63 Acres
Utilities
Sewer type
Public Sewer
Heating system
Space Heater
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
office/showroom area
restrooms
Building Details
Year built
1966
Floors in Building
1
Flooring type
Concrete
Roof type
Rolled Hot Mop
Listing Agency:
The Equity Group
(559) 732-8800
Listed By:
Jason D Ritchie · License #01948820
(559) 343-3049
Added: Jun 5
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 242145
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.
This 3,891-square-foot flex property, built in 1966, combines an office/showroom area with two restrooms and six service bays equipped with roll-up doors. Concrete flooring, central air, ceiling fans, and space heating serve the building, which also includes a laundry room. Public water and public sewer are in place.
The property occupies a fenced 0.63-acre lot measuring approximately 27,391 square feet. Its position directly off the State Route 99 off-ramp provides freeway access for automotive service, equipment repair, contractor activity, warehousing, vehicle storage, and other commercial or industrial operations. A rolled hot mop roof and on-site outdoor area add to the facility’s practical configuration.
The property occupies a fenced 0.63-acre lot measuring approximately 27,391 square feet. Its position directly off the State Route 99 off-ramp provides freeway access for automotive service, equipment repair, contractor activity, warehousing, vehicle storage, and other commercial or industrial operations. A rolled hot mop roof and on-site outdoor area add to the facility’s practical configuration.
Key Highlights
- 3,891 SF flex property built in 1966
- Six service bays with roll‑up doors
- Fenced 27,391+/- square foot lot on 0.63 acres
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
$55,537
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
6.00%
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%
$1,110,740
$1.1M
Cap Rate 7%
$793,386
$793.4K
Cap Rate 9%
$617,078
$617.1K
Market Conditions
NOI Build-Up for 3,891 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
$84.0K $21.60/SF
− Vacancy
−$4.7K −$1.21/SF
EGI
$79.3K $20.39/SF
− OpEx
−$23.8K −$6.12/SF
NOI
$55.5K $14.27/SF
Area
Tulare County, 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%
$1,110,740
Cap Rate 7%
$793,386
Cap Rate 9%
$617,078
Alternative Uses
Best Use
Retail
$793.4K
$694.2K – $925.6K
NOI $55,537 @ 7.0% cap · market cap 6.00%
Second Best
Flex RnD
$488.5K
$427.5K – $570.0K
NOI $34,198 @ 7.0% cap · market cap 3.70%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,732 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Drive-in doors
6
Service bays
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93256, CA
5,754
Population
1,484
Households
3.9
Avg Household Size
27
Median Age
4%
College-Educated
50%
High-School Grad
74.6 sq mi
ZIP Area
77
Density / Sq Mi
$70,878
Median Household Income
$31,349
Median Earnings
$1,207
Median Rent
$240,000
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Office, showroom, restrooms, and multiple roll-up service bays support automotive and industrial operations.
Where is this flex space located?
The property is located at 654 E Terra Bella Avenue Pixley, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 3,891 SF flex property built in 1966; Six service bays with roll‑up doors; Fenced 27,391+/- square foot lot on 0.63 acres
