Retail Property with High
For Sale
Contact for pricing
142 S Mirage Ave, Lindsay, CA 93247
Retail property for sale with significant deposits.
Property Size5,116 SF
Price / SF$435.65
Days on Market156
Property Features for 142 S Mirage Ave
General Information
Standard status
Active
Size
5,116 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$133,729
Building Details
Year Built
1993
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #BRK.200900214
Source:
Crexi
Added: Mar 9
Changed: Aug 9
Last Checked: Aug 11 at 2:46PM
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 Bang Realty
Investment Insights
Based on property information with market context.
This retail property, encompassing 5,116 square feet, is available for sale. It operates on a NNN lease structure and features a 6.00% Cap Rate. The property has $93 million in deposits.
Key Highlights
- 6.00% Cap Rate
- $93 Million in Deposits
- NNN Lease in place
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
$73,022
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
3.28%
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%
$1,460,440
$1.5M
Cap Rate 7%
$1,043,171
$1.0M
Cap Rate 9%
$811,356
$811.4K
Market Conditions
NOI Build-Up for 5,116 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
$110.5K $21.60/SF
− Vacancy
−$6.2K −$1.21/SF
EGI
$104.3K $20.39/SF
− OpEx
−$31.3K −$6.12/SF
NOI
$73.0K $14.27/SF
Area
Tulare County, CA
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,460,440
Cap Rate 7%
$1,043,171
Cap Rate 9%
$811,356
Alternative Uses
Best Use
Retail
$1.04M
$912.8K – $1.22M
NOI $73,022 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,779 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Home Improvements & Furnishings 8%
Dollar General
Shops & Services
9,794 visits/mo
0.5 miles
Chevron
Shops & Services
5,155 visits/mo
0.3 miles
Lindsay True Value Hardware
Home Improvements & Furnishings
1,412 visits/mo
0.4 miles
H&R Block
Shops & Services
332 visits/mo
0.4 miles
Demographics for 93247, CA
18,210
Population
5,731
Households
3.2
Avg Household Size
30
Median Age
7%
College-Educated
64%
High-School Grad
65.8 sq mi
ZIP Area
277
Density / Sq Mi
$55,460
Median Household Income
$29,492
Median Earnings
$957
Median Rent
$271,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property for sale with significant deposits.
Where is this retail property located?
The property is located at 142 S Mirage Ave Lindsay, CA.
What is the asking price?
The asking price for this property is $2,228,810.
What are key features of this property?
This property features: 6.00% Cap Rate; $93 Million in Deposits; NNN Lease in place
