Downtown Mixed-Use Corner
For Sale
$3,000,000
101 W Main St, Visalia, CA 93291
Historic 1920 mixed-use building with 20 units and fully occupied ground-floor retail at Main and Court.
Property Size14,244 SF
Price / SF$210.61
Days on Market104
Property Features for 101 W Main St
General Information
Standard status
Active
Size
14,244 SF
Total Parking Spaces
15
Building Details
Year Built
1920
Stories
2
Tenancy
Multi
Listing Agency:
AXEN Realty
Listed By:
Josh Ormonde · License #02087097
(951) 453-9683
Source:
Exprealty
Added: Jun 1
Changed: Sep 10
Last Checked: Sep 12 at 12:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AXEN Realty
Investment Insights
Based on property information with market context.
Built in 1920, this downtown mixed-use corner building offers a total of 20 units, including fully occupied ground-floor retail and an adaptable second-floor studio layout. The ground floor includes five leased retail units, while the upper level provides 15 studio suites with eight currently vacant.
The property is positioned at the high-traffic Main & Main intersection of Main and Court Street in Visalia, and it includes 15 dedicated, private on-site parking spaces. Multiple long-term local retail tenants anchor the ground floor.
With in-place retail occupancy and second-floor flexibility, the building supports straightforward value creation through lease-up of the currently vacant studio suites and potential adjustments to how operating expenses are structured under existing lease terms.
The property is positioned at the high-traffic Main & Main intersection of Main and Court Street in Visalia, and it includes 15 dedicated, private on-site parking spaces. Multiple long-term local retail tenants anchor the ground floor.
With in-place retail occupancy and second-floor flexibility, the building supports straightforward value creation through lease-up of the currently vacant studio suites and potential adjustments to how operating expenses are structured under existing lease terms.
Key Highlights
- Historic 1920 mixed‑use building at Main & Court in Downtown Visalia.
- 20‑unit property: 100% occupied ground‑floor retail with 5 leased retail units.
- 15 second‑floor studio suites with 8 vacant for potential lease‑up.
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,263
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic 1920 mixed-use building with 20 units and fully occupied ground-floor retail at Main and Court.
Where is this apartment building located?
The property is located at 101 W Main St 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: Historic 1920 mixed‑use building at Main & Court in Downtown Visalia.; 20‑unit property: 100% occupied ground‑floor retail with 5 leased retail units.; 15 second‑floor studio suites with 8 vacant for potential lease‑up.
