Building Details

Year Built 1973

Buildings 4

Listing Agency: Craig Smith & Associates, Inc. c***@craigsmithandassoc.com Show Phone

Listed By: Craig Smith · License #00665248 Show Phone

Source: Xome

Added: Aug 10 Changed: Aug 30 Last Checked: Aug 30 at 4:53PM

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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 Craig Smith & Associates, Inc.

Investment Insights

Based on property information with market context.

This flex-space property combines a shop, office components, storage areas, and outdoor operating space. The main shop includes pull-through bays, wide doors, extra height, substantial power, an office, parts room, and mezzanine storage. Central air is also provided. The site includes a fully fenced yard, fueling containment, and an outbuilding.

Located at 14144 Road 152 in Tipton, the property is near Highway 190 and offers frontage along Road 152. Three homes are included: two mobile homes and a 1,766-square-foot house. These structures may support additional income, office use, or future yard expansion, as described in the property information. The property was built in 1973.

Key Highlights

• Nearly 5 acres of usable land with frontage on Road 152
• Near Highway 190
• Main shop includes pull‑through bays, wide doors, extra height, and substantial power

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

$42,715

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

6.11%

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%

$854,300 $854.3K

Cap Rate 7%

$610,214 $610.2K

Cap Rate 9%

$474,611 $474.6K

Market Conditions

NOI Build-Up for 4,860 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

$70.0K $14.40/SF

− Vacancy

−$4.3K −$0.88/SF

EGI

$65.7K $13.52/SF

− OpEx

−$23.0K −$4.73/SF

NOI

$42.7K $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%

$854,300

Cap Rate 7%

$610,214

Cap Rate 9%

$474,611

Alternative Uses

Best Use

Flex RnD

$610.2K

$533.9K – $711.9K (±1% cap)

NOI $42,715 @ 7.0% cap · market cap 6.11%

Second Best

Warehouse

$490.8K

$429.5K – $572.6K (±1% cap)

NOI $34,357 @ 7.0% cap · market cap 4.92%

Theoretical Best

Specialty Retail

$1.48M

$1.29M – $1.72M (±1% cap)

NOI $103,336 @ 7.0% cap · market cap 14.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Lease Details

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 93272, CA

3,468

Population

1,175

Households

3

Avg Household Size

29

Median Age

5%

College-Educated

46%

High-School Grad

84.0 sq mi

ZIP Area

41

Density / Sq Mi

$58,564

Median Household Income

$37,101

Median Earnings

$1,149

Median Rent

$257,500

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

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial improvements include pull-through bays, an office, storage areas, and a secured outdoor yard.

Where is this flex space located?

The property is located at 14144 Road 152 Tipton, CA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Nearly 5 acres of usable land with frontage on Road 152; Near Highway 190; Main shop includes pull‑through bays, wide doors, extra height, and substantial power