Corner Apartment
For Sale
$1,399,000
1063 Pierce Drive, Clovis, CA 93612
Built in 1977 with central heating and cooling.
Property Size5,500 SF
Price / SF$254.36
Days on Market252
Property Features for 1063 Pierce Drive
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Multi Family / 5 to 15 Units
Lease Type
Net
Amenities
Central Heat/Cool
Sprinkler - Front
Tile
Stucco, Wood
Concrete Perimeter
Corner
Building Details
Year Built
1977
Listing Agency:
Brendan Kane Real Estate
(559) 289-0698
Listed By:
Brendan L Kane · License #01976828
(559) 289-0698
Source:
Compass
Added: Dec 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:03PM
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 Brendan Kane Real Estate
Investment Insights
Based on property information with market context.
This apartment building at 1063 Pierce Drive in Clovis, California, contains 5,500 square feet and was constructed in 1977. The property includes central heat and cooling, tile roofing, and recent renovations. Exterior improvements include front sprinklers, stucco and wood finishes, and a concrete perimeter.
The corner property provides onsite parking and is located in the 93612 ZIP code. Its physical configuration and apartment-building classification support continued multifamily use, while the documented improvements provide a current basis for evaluating the asset.
The corner property provides onsite parking and is located in the 93612 ZIP code. Its physical configuration and apartment-building classification support continued multifamily use, while the documented improvements provide a current basis for evaluating the asset.
Key Highlights
- 5,500‑square‑foot apartment building at 1063 Pierce Drive, Clovis, CA 93612
- Constructed in 1977
- Tile roofing and concrete perimeter
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
$72,037
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
5.15%
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%
$1,440,740
$1.4M
Cap Rate 7%
$1,029,100
$1.0M
Cap Rate 9%
$800,411
$800.4K
Market Conditions
NOI Build-Up for 5,500 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
$138.6K $25.20/SF
− Vacancy
−$7.6K −$1.39/SF
EGI
$131.0K $23.81/SF
− OpEx
−$58.9K −$10.72/SF
NOI
$72.0K $13.10/SF
Area
Clovis, CA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,440,740
Cap Rate 7%
$1,029,100
Cap Rate 9%
$800,411
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$900.5K – $1.20M
NOI $72,037 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $96,994 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
Business Placement
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1977 with central heating and cooling.
Where is this apartment building located?
The property is located at 1063 Pierce Drive Clovis, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 5,500‑square‑foot apartment building at 1063 Pierce Drive, Clovis, CA 93612; Constructed in 1977; Tile roofing and concrete perimeter
