Mixed-Use Retail & Apartment
101-111 W Main Street Visalia, CA 93291
101-111 W Main Street, Visalia, CA, 93291
$3,000,000
For Sale
$3,000,000
COMMERCIAL - Visalia, CA
Property Size14,244 SF
Lot Size0.33 Acres
Price / SF$210.61
Days on Market48
Property Features for 101-111 W Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- 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
- Mixed, Rolled Hot Mop
Listing Agency
Downtown Realty Luxury
(559) 740-7634
904 W Main St., Porterville, CA
Listed by
Josh Ormonde · License #02087097
(559) 737-1636
Added: Jun 1 Checked: Jul 18 at 1:06 pm
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.
This historic mixed-use building offers a 20-unit configuration with retail on the ground floor and adaptable studio-style suites on the second level. The ground floor features five fully leased retail units providing immediate, dependable income. Above, there are fifteen studio suites, with eight currently vacant, creating a clear path for revenue expansion after stabilization.
Set at the high-traffic intersection of Main and Court Streets in downtown Visalia, the property benefits from prominent corner visibility. The building also includes fifteen dedicated, private on-site parking spaces, an important consideration in a district where parking is described as highly constrained. The retail component is anchored by long-term local favorites and stable commercial tenants, including Cellar Door, Wimpy's Hamburgers, Root Lifestyle, Last Wave Tattoo, and Raphael's Jewelry.
For buyers and operators, the investment case centers on capturing operational upside from the second-floor income potential. Completing lease-up of the vacant studio suites can drive near-term performance, while additional strategy includes transitioning the current gross leases to a NNN or modified gross structure to recapture shared operating expenses. For the right owner, it combines steady in-place retail cash flow with an actionable plan to unlock greater overall value.
Set at the high-traffic intersection of Main and Court Streets in downtown Visalia, the property benefits from prominent corner visibility. The building also includes fifteen dedicated, private on-site parking spaces, an important consideration in a district where parking is described as highly constrained. The retail component is anchored by long-term local favorites and stable commercial tenants, including Cellar Door, Wimpy's Hamburgers, Root Lifestyle, Last Wave Tattoo, and Raphael's Jewelry.
For buyers and operators, the investment case centers on capturing operational upside from the second-floor income potential. Completing lease-up of the vacant studio suites can drive near-term performance, while additional strategy includes transitioning the current gross leases to a NNN or modified gross structure to recapture shared operating expenses. For the right owner, it combines steady in-place retail cash flow with an actionable plan to unlock greater overall value.
Key Highlights
- 1920‑built 20‑unit property at the Main & Court Street “Main & Main” corner in Downtown Visalia
- Ground‑floor retail with 100% occupancy, including 5 fully leased retail units
- Second floor offers 15 studio suites with 8 vacant units available for lease‑up
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $307.7k | $21.60 |
| − Vacancy | −$17.2k | −$1.21 |
| EGI | $290.4k | $20.39 |
| − OpEx | −$87.1k | −$6.12 |
| NOI | $203.3k | $14.27 |
14,244 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.90M
$2.54M – $3.39M
NOI $203,309 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,284 @ 7.0% cap · market cap 3.94%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Corner property with fully leased ground-floor retail and studio-style second-floor space offers immediate income and value-add upside.
Where is this apartment building 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: 1920‑built 20‑unit property at the Main & Court Street “Main & Main” corner in Downtown Visalia; Ground‑floor retail with 100% occupancy, including 5 fully leased retail units; Second floor offers 15 studio suites with 8 vacant units available for lease‑up
