Downtown Retail Office
For Sale
$599,000
135 Tulare Avenue, Tulare, CA 93274
Two rentable units with large basements offer versatile space in a high-traffic downtown corridor.
Property Size3,895 SF
Price / SF$153.79
Days on Market277
Property Features for 135 Tulare Avenue
General Information
Standard status
Active
Size
3,895 SF
Property subtype
General Commercial
Amenities
3
commercial
irregular
Building Details
Tenancy
Multi
Listing Agency:
(559) 972-5768
Listed By:
All California Real Estate
(559) 972-5768
Source:
Xome
Added: Nov 7, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:02AM
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 All California Real Estate
Investment Insights
Based on property information with market context.
This commercial building offers approximately 3,895 square feet of versatile space arranged as two rentable units, each with its own large basement for storage or expanded operational needs. The flexibility of the layout can accommodate a range of commercial uses, including retail and service-based businesses, as well as professional offices.
The property is located on a high traffic corridor in Downtown Tulare and is described as having strong visibility for prospective customers or clients. It also sits within Tulare's Downtown Rehabilitation Grant Area, where future owners may qualify for grant funding to support upgrades or renovations.
For buyers and investors, the key value is the building’s two-unit configuration with basement space, paired with the opportunity to align income with current market conditions as current rents can be adjusted.
The property is located on a high traffic corridor in Downtown Tulare and is described as having strong visibility for prospective customers or clients. It also sits within Tulare's Downtown Rehabilitation Grant Area, where future owners may qualify for grant funding to support upgrades or renovations.
For buyers and investors, the key value is the building’s two-unit configuration with basement space, paired with the opportunity to align income with current market conditions as current rents can be adjusted.
Key Highlights
- Over 3,800 sq. ft. of commercial space on a high‑traffic downtown Tulare corridor
- Two rentable units, each with its own large basement for storage or expanded operational needs
- Flexible layout supports a wide range of commercial uses, including retail, service businesses, and professional offices
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
$48,590
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
8.11%
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%
$971,800
$971.8K
Cap Rate 7%
$694,143
$694.1K
Cap Rate 9%
$539,889
$539.9K
Market Conditions
NOI Build-Up for 3,895 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
$78.1K $20.04/SF
− Vacancy
−$13.3K −$3.41/SF
EGI
$64.8K $16.63/SF
− OpEx
−$16.2K −$4.16/SF
NOI
$48.6K $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%
$971,800
Cap Rate 7%
$694,143
Cap Rate 9%
$539,889
Alternative Uses
Best Use
Retail
$794.2K
$694.9K – $926.6K
NOI $55,594 @ 7.0% cap · market cap 9.28%
Second Best
Office B
$694.1K
$607.4K – $809.8K
NOI $48,590 @ 7.0% cap · market cap 8.11%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,817 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Two rentable units with large basements offer versatile space in a high-traffic downtown corridor.
Where is this storefront property located?
The property is located at 135 Tulare Avenue Tulare, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Over 3,800 sq. ft. of commercial space on a high‑traffic downtown Tulare corridor; Two rentable units, each with its own large basement for storage or expanded operational needs; Flexible layout supports a wide range of commercial uses, including retail, service businesses, and professional offices
