Neighborhood Retail Shopping
For Sale
Contact for pricing
Pending
1215 N Willow Avenue, Clovis, CA 93619
100% occupied neighborhood retail center with dining, fitness, dental, and services along Clovis Old Town Trail.
Property Size72,065 SF
Days on Market53
Property Features for 1215 N Willow Avenue
General Information
Standard status
Pending
Size
72,065 SF
Class
B
Property subtype
Retail
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$1,493,121
Building Details
Year Built
2006
Buildings
5
Units
29
Tenancy
Multi
Listing Agency:
Visintainer Group
Listed By:
Brett Visintainer · License #CA 01792092
Source:
Crexi
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 25 at 3:29PM
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 Visintainer Group
Investment Insights
Based on property information with market context.
Parkway Trails Shopping Center is a 100% occupied neighborhood retail center offering 72,065 square feet of retail space with a tenant mix spanning dining, fitness, dental, and service-oriented businesses. The center includes tenants such as 13 Prime Steakhouse, Yolked Kitchen, and Steven’s Bicycle Shop, among others.
Located on the northeast corner of Willow Avenue and Nees Avenue in Clovis, the property sits directly along the Clovis Old Town Trail. The center is within 1.2 miles of Buchanan High School and Alta Sierra Middle School, and the remarks cite daily traffic generated by over 4,100 students and their families. Demographic information provided in the marketing materials lists average household income of $145,049 within 1 mile and $130,116 within 3 miles.
The shopping center is described as having below-market rents, with month-to-month tenants and tenants expiring in 2026 with no options representing 53% of the square footage. The center also features staggered lease expirations, and the remarks note that 46% of the square footage and 49% of the rent have been in place for over 10 years.
Located on the northeast corner of Willow Avenue and Nees Avenue in Clovis, the property sits directly along the Clovis Old Town Trail. The center is within 1.2 miles of Buchanan High School and Alta Sierra Middle School, and the remarks cite daily traffic generated by over 4,100 students and their families. Demographic information provided in the marketing materials lists average household income of $145,049 within 1 mile and $130,116 within 3 miles.
The shopping center is described as having below-market rents, with month-to-month tenants and tenants expiring in 2026 with no options representing 53% of the square footage. The center also features staggered lease expirations, and the remarks note that 46% of the square footage and 49% of the rent have been in place for over 10 years.
Key Highlights
- 72,065 SF neighborhood retail center built in 2006, 100% occupied
- Located at the northeast corner of Willow Avenue and Nees Avenue in Clovis, CA
- Directly along the Clovis Old Town Trail, supporting consistent pedestrian and bicycle traffic
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
$1,091,569
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
5.30%
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%
$21,831,380
$21.8M
Cap Rate 7%
$15,593,843
$15.6M
Cap Rate 9%
$12,128,544
$12.1M
Market Conditions
NOI Build-Up for 72,065 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
$1.56M $21.60/SF
− Vacancy
−$101.2K −$1.40/SF
EGI
$1.46M $20.20/SF
− OpEx
−$363.9K −$5.05/SF
NOI
$1.09M $15.15/SF
Area
Clovis, CA
Vacancy
6.50%
Lease Rate
$21.60 /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%
$21,831,380
Cap Rate 7%
$15,593,843
Cap Rate 9%
$12,128,544
Alternative Uses
Best Use
Specialty Retail
$15.59M
$13.64M – $18.19M
NOI $1,091,569 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$14.00M
$12.25M – $16.33M
NOI $979,904 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$18.16M
$15.89M – $21.18M
NOI $1,270,881 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
329k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Groceries 26%
Shops & Services 25%
Trader Joe's
Groceries
48,375 visits/mo
0.2 miles
McDonald's
Dining
46,420 visits/mo
0.1 miles
Save Mart
Groceries
38,252 visits/mo
0.1 miles
ARCO
Shops & Services
29,895 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
23,269 visits/mo
0.4 miles
Demographics for 93619, CA
50,032
Population
17,019
Households
2.9
Avg Household Size
37
Median Age
47%
College-Educated
96%
High-School Grad
186.5 sq mi
ZIP Area
268
Density / Sq Mi
$138,648
Median Household Income
$70,878
Median Earnings
$2,404
Median Rent
$579,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - 100% occupied neighborhood retail center with dining, fitness, dental, and services along Clovis Old Town Trail.
Where is this shopping center located?
The property is located at 1215 N Willow Avenue Clovis, CA.
What is the asking price?
The asking price for this property is $20,600,000.
What are key features of this property?
This property features: 72,065 SF neighborhood retail center built in 2006, 100% occupied; Located at the northeast corner of Willow Avenue and Nees Avenue in Clovis, CA; Directly along the Clovis Old Town Trail, supporting consistent pedestrian and bicycle traffic
