Commercial Office
For Sale
Contact for pricing
161 N M St, Tulare, CA 93274
Built in 2006, the building offers a professional office setting with C-3 commercial zoning in Tulare.
Property Size1,985 SF
Lot Size0.12 Acres
Price / SF$249.37
Days on Market8
Property Features for 161 N M St
General Information
Standard status
Active
Size
1,985 SF
Lot size
0.12 Acres
Property subtype
Office
Zoning
C-3
Building Details
Year Built
2006
Listing Agency:
Manuel Ortiz Real Estate
Listed By:
Manuel Ortiz · License #CA
(559) 684-1205
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:25PM
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 Manuel Ortiz Real Estate
Investment Insights
Based on property information with market context.
This office building was constructed in 2006 and contains 1,985± square feet on a 5,100± square-foot lot. Its C-3 commercial zoning is within the City of Tulare; zoning and permitted uses should be confirmed with the City.
The property is located at 161 N M St in Tulare, California.
The property is located at 161 N M St in Tulare, California.
Key Highlights
- 1,985± SF office building on a 5,100± SF lot
- Built in 2006
- C‑3 commercial zoning within the City of Tulare
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
$24,763
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
5.00%
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%
$495,260
$495.3K
Cap Rate 7%
$353,757
$353.8K
Cap Rate 9%
$275,144
$275.1K
Market Conditions
NOI Build-Up for 1,985 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
$39.8K $20.04/SF
− Vacancy
−$6.8K −$3.41/SF
EGI
$33.0K $16.63/SF
− OpEx
−$8.3K −$4.16/SF
NOI
$24.8K $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%
$495,260
Cap Rate 7%
$353,757
Cap Rate 9%
$275,144
Alternative Uses
Best Use
Office B
$353.8K
$309.5K – $412.7K
NOI $24,763 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$602.9K
$527.6K – $703.4K
NOI $42,206 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2006, the building offers a professional office setting with C-3 commercial zoning in Tulare.
Where is this office building located?
The property is located at 161 N M St Tulare, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,985± SF office building on a 5,100± SF lot; Built in 2006; C‑3 commercial zoning within the City of Tulare
