Office Building with Private
For Sale
$395,000
108 Morton Avenue, Porterville, CA 93257
Functional office layout with reception, kitchenette, central air, and wheelchair ramps.
Property Size1,278 SF
Price / SF$309.08
Days on Market11
Property Features for 108 Morton Avenue
General Information
Standard status
Active
Size
1,278 SF
Total Parking Spaces
9
Property subtype
Office
Amenities
reception counter
waiting area
five private offices
technology/workroom
two restrooms
kitchenette
wheelchair ramps
Central Air
irregular
Listing Agency:
Downtown Realty
(559) 333-4549
Listed By:
Sarah Catalina · License #01276135
(559) 333-4549
Source:
Xome
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 5:32AM
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 Downtown Realty
Investment Insights
Based on property information with market context.
This 1,278-square-foot office building provides a practical configuration for professional operations. The interior includes a lobby with reception and waiting areas, five private offices, a technology/workroom, two restrooms, and a kitchenette. Central air serves the building, while wheelchair ramps support accessible entry.
Located at 108 Morton Avenue in Porterville, California, the property includes nine on-site parking spaces for employees and visitors. Its defined office layout and supporting amenities provide a ready setting for office-based operations.
Located at 108 Morton Avenue in Porterville, California, the property includes nine on-site parking spaces for employees and visitors. Its defined office layout and supporting amenities provide a ready setting for office-based operations.
Key Highlights
- 1,278 SF office building with five private offices
- Lobby includes a reception counter and waiting area
- Dedicated technology/workroom, two restrooms, and kitchenette
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
$15,943
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
4.04%
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%
$318,860
$318.9K
Cap Rate 7%
$227,757
$227.8K
Cap Rate 9%
$177,144
$177.1K
Market Conditions
NOI Build-Up for 1,278 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
$25.6K $20.04/SF
− Vacancy
−$4.4K −$3.41/SF
EGI
$21.3K $16.63/SF
− OpEx
−$5.3K −$4.16/SF
NOI
$15.9K $12.47/SF
Area
Tulare County, CA
Vacancy
17.00%
Lease Rate
$20.04 /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%
$318,860
Cap Rate 7%
$227,757
Cap Rate 9%
$177,144
Alternative Uses
Best Use
Office B
$227.8K
$199.3K – $265.7K
NOI $15,943 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$388.2K
$339.7K – $452.9K
NOI $27,173 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 93257, CA
79,569
Population
25,020
Households
3.2
Avg Household Size
31
Median Age
15%
College-Educated
69%
High-School Grad
378.9 sq mi
ZIP Area
210
Density / Sq Mi
$58,261
Median Household Income
$30,344
Median Earnings
$1,086
Median Rent
$276,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Functional office layout with reception, kitchenette, central air, and wheelchair ramps.
Where is this office building located?
The property is located at 108 Morton Avenue Porterville, CA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,278 SF office building with five private offices; Lobby includes a reception counter and waiting area; Dedicated technology/workroom, two restrooms, and kitchenette
