Building Details

Year Built 1975

Buildings 2

Listing Agency: Oakhurst Real Estate r***@sti.net Show Phone

Listed By: Thomas T. Nicolulis · License #00577085 Show Phone

Source: Exitrealty

Added: May 1, 2025 Changed: Aug 30 Last Checked: Aug 30 at 3:07AM

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Investment Insights

Based on property information with market context.

This commercially zoned property includes two remodeled structures totaling 3,000 square feet on 1.29 usable acres. The primary structure provides a 1,130-square-foot ground-level area with vinyl dual-pane windows, updated flooring, two mini-split heating and cooling systems, and an upgraded half bath. A covered concrete patio fronts the double commercial entry doors, while two remote-controlled garage doors serve separate lower-level bays totaling another 1,130 square feet.

The second structure is a 740-square-foot commercial studio with a three-quarter bath, corner shower, kitchen, and 16-by-28-foot front deck. Site improvements include a covered 9-by-24-foot dog kennel, RV parking with 30-amp electrical service, water and septic hookups, and chain-link security fencing with two locking gates. The water system includes a well with a three-quarter-horsepower pump, a 1,500-gallon storage tank, and a separate pump house with upgraded pressure equipment.

A commercial billboard at the property corner generates advertising income. The property is positioned near Yosemite National Park’s southern gate, Bass Lake, and the village of North Fork in California’s Sierra Nevada foothills.

Key Highlights

• 1.29 usable acres with two remodeled commercial structures
• 3,000 total square feet, including a 1,130‑square‑foot main level and 740‑square‑foot studio
• Two separate lower‑level bays with remote‑controlled commercial garage doors

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

$43,637

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

8.23%

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%

$872,740 $872.7K

Cap Rate 7%

$623,386 $623.4K

Cap Rate 9%

$484,856 $484.9K

Market Conditions

NOI Build-Up for 3,000 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

$55.4K $18.48/SF

− Vacancy

−$4.1K −$1.37/SF

EGI

$51.3K $17.11/SF

− OpEx

−$7.7K −$2.57/SF

NOI

$43.6K $14.55/SF

Area

Madera County, CA

Vacancy

7.40%

Lease Rate

$18.48 /SF/Yr

Expense Ratio

15.00%

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%

$872,740

Cap Rate 7%

$623,386

Cap Rate 9%

$484,856

Alternative Uses

Best Use

Warehouse

$623.4K

$545.5K – $727.3K (±1% cap)

NOI $43,637 @ 7.0% cap · market cap 8.23%

Second Best

Industrial

$550.0K

$481.2K – $641.6K (±1% cap)

NOI $38,498 @ 7.0% cap · market cap 7.26%

Theoretical Best

Office A

$1.16M

$1.02M – $1.35M (±1% cap)

NOI $81,269 @ 7.0% cap · market cap 15.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Electrical Service Garden Center Real Estate Agency Discount Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 93645, CA

297

Population

293

Households

1

Avg Household Size

44

Median Age

1%

College-Educated

67%

High-School Grad

59.7 sq mi

ZIP Area

5

Density / Sq Mi

$77,138

Median Household Income

$366,700

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Flex space - Two remodeled commercial structures offer flexible workspace, bay access, and a separate studio.

Where is this flex space located?

The property is located at 53987 Road 200 O Neals, CA.

What is the asking price?

The asking price for this property is $530,000.

What are key features of this property?

This property features: 1.29 usable acres with two remodeled commercial structures; 3,000 total square feet, including a 1,130‑square‑foot main level and 740‑square‑foot studio; Two separate lower‑level bays with remote‑controlled commercial garage doors