Office Building with Private
New
For Sale
$359,000
145 S D Street, Exeter, CA 93221
Commercial Sale, Exeter, CA
Property Size1,338 SF
Lot Size0.17 Acres
Price / SF$268.31
Days on Market2
Property Features for 145 S D Street
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From Pine Street go south on D Street, subject property is next to the Exeter Post Office.
Subdivision
Exeter
Standard status
Active
APN
135131012000
Size
1,338 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Roof type
Composition
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Mike Liddi
(559) 280-8455
Added: Aug 20
Last Checked: Aug 21 at 6:06PM
MLS# 243612
Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,338-square-foot office building, constructed in 1990, includes three private office rooms, a reception area, restroom, and kitchen or break room. The layout provides distinct work areas alongside shared support space, with central heating and central air conditioning. A composition roof, newer roof and HVAC components, and newer insulation are also noted.
The property occupies 0.17 acres and provides parking at both the street and rear of the building. Public water and public sewer serve the site. Located in Exeter, California, the building offers an established office configuration with practical parking and core building systems already in place.
The property occupies 0.17 acres and provides parking at both the street and rear of the building. Public water and public sewer serve the site. Located in Exeter, California, the building offers an established office configuration with practical parking and core building systems already in place.
Key Highlights
- 1,338‑square‑foot office building on 0.17 acres
- Three large private office rooms plus reception, restroom, and kitchen/break room
- Street and rear parking available
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
$16,691
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
4.65%
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%
$333,820
$333.8K
Cap Rate 7%
$238,443
$238.4K
Cap Rate 9%
$185,456
$185.5K
Market Conditions
NOI Build-Up for 1,338 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
$26.8K $20.04/SF
− Vacancy
−$4.6K −$3.41/SF
EGI
$22.3K $16.63/SF
− OpEx
−$5.6K −$4.16/SF
NOI
$16.7K $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%
$333,820
Cap Rate 7%
$238,443
Cap Rate 9%
$185,456
Alternative Uses
Best Use
Office B
$238.4K
$208.6K – $278.2K
NOI $16,691 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$406.4K
$355.6K – $474.2K
NOI $28,449 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 93221, CA
15,024
Population
5,046
Households
3
Avg Household Size
37
Median Age
19%
College-Educated
85%
High-School Grad
132.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,121
Median Household Income
$39,138
Median Earnings
$1,267
Median Rent
$324,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Central heating and cooling serve a professional layout with reception, restroom, and kitchen areas.
Where is this office building located?
The property is located at 145 S D Street Exeter, CA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 1,338‑square‑foot office building on 0.17 acres; Three large private office rooms plus reception, restroom, and kitchen/break room; Street and rear parking available
