Flex Space with Existing
For Sale
$750,000
1129 E Batavia Court, Tulare, CA 93274
Built in 2004 and occupied by a tenant now in its 12th year.
Property Size7,500 SF
Price / SF$100
Days on Market824
Property Features for 1129 E Batavia Court
General Information
Standard status
Active
Size
7,500 SF
Property subtype
General Commercial
Amenities
3
Commerical
irregular
Building Details
Year Built
2004
Listing Agency:
(785) 200-6766
Listed By:
Hirsch Real Estate
(785) 200-6766
Source:
Xome
Added: May 28, 2024
Changed: Aug 29
Last Checked: Aug 29 at 2:12PM
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 Hirsch Real Estate
Investment Insights
Based on property information with market context.
This flex-space property contains 7,500 square feet and was constructed in 2004. The building is currently occupied by a tenant who is in the 12th year of tenancy.
The property is located at 1129 E Batavia Court in Tulare, California. Its placement within a cul-de-sac setting provides a distinct site configuration for this commercial building.
The property is located at 1129 E Batavia Court in Tulare, California. Its placement within a cul-de-sac setting provides a distinct site configuration for this commercial building.
Key Highlights
- 7,500‑square‑foot flex‑space building
- Constructed in 2004
- Tenant is in the 12th year of occupancy
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
$65,918
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
8.79%
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%
$1,318,360
$1.3M
Cap Rate 7%
$941,686
$941.7K
Cap Rate 9%
$732,422
$732.4K
Market Conditions
NOI Build-Up for 7,500 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
$108.0K $14.40/SF
− Vacancy
−$6.6K −$0.88/SF
EGI
$101.4K $13.52/SF
− OpEx
−$35.5K −$4.73/SF
NOI
$65.9K $8.79/SF
Area
Tulare County, CA
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$1,318,360
Cap Rate 7%
$941,686
Cap Rate 9%
$732,422
Alternative Uses
Best Use
Flex RnD
$941.7K
$824.0K – $1.10M
NOI $65,918 @ 7.0% cap · market cap 8.79%
Second Best
Industrial
$623.8K
$545.8K – $727.7K
NOI $43,664 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,469 @ 7.0% cap · market cap 21.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93274, CA
78,493
Population
24,493
Households
3.2
Avg Household Size
31
Median Age
11%
College-Educated
75%
High-School Grad
219.2 sq mi
ZIP Area
358
Density / Sq Mi
$69,905
Median Household Income
$37,434
Median Earnings
$1,334
Median Rent
$300,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Vejar's Mexican Restaurant & Cocktail Lounge — 1293 S K St, Tulare, CA 93274
Frequently Asked Questions
What type of property is this?
Flex space - Built in 2004 and occupied by a tenant now in its 12th year.
Where is this flex space located?
The property is located at 1129 E Batavia Court Tulare, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 7,500‑square‑foot flex‑space building; Constructed in 2004; Tenant is in the 12th year of occupancy
