Corner Flex Building with
For Sale
$700,000
191 N Elmwood Avenue, Lindsay, CA 93247
COMMERCIAL - Lindsay, CA
Property Size4,500 SF
Lot Size0.10 Acres
Price / SF$155.56
Days on Market348
Property Features for 191 N Elmwood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Central commercial Please confirm with the city of Lindsay.
Directions
From Hermosa St., South on Elmwood Property is located on the South/West of Elmwood and Samoa St.
Subdivision
Lindsay
Standard status
Active
APN
205282019000
Size
4,500 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Roof type
Metal
Listing Agency:
Joy Realty Group
(559) 310-4415
Listed By:
Ruben Benitez · License #01244963
(559) 804-1557
Added: Sep 8, 2025
Changed: Aug 4
Last Checked: Aug 21 at 8:06PM
MLS# 237252
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 4,500-square-foot flex property occupies a 0.1-acre corner parcel in downtown Lindsay. The building includes an open showroom and a separate warehouse or storage area, providing distinct areas for customer-facing operations and back-of-house use. Central heating and central air conditioning support year-round interior comfort, while the metal roof and public water and sewer systems are existing improvements. Constructed in 1900, the property previously housed El Dorado Jewelers.
The site is near restaurants, convenience stores, and schools, with access to Highway 65. Its downtown setting and corner placement add practical prominence for a business seeking a commercial location with both showroom and storage capacity.
The site is near restaurants, convenience stores, and schools, with access to Highway 65. Its downtown setting and corner placement add practical prominence for a business seeking a commercial location with both showroom and storage capacity.
Key Highlights
- 4,500‑square‑foot flex building on a 0.1‑acre parcel
- Corner property in downtown Lindsay
- Open showroom plus separate warehouse or storage area
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
$64,230
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
9.18%
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%
$1,284,600
$1.3M
Cap Rate 7%
$917,571
$917.6K
Cap Rate 9%
$713,667
$713.7K
Market Conditions
NOI Build-Up for 4,500 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
$97.2K $21.60/SF
− Vacancy
−$5.4K −$1.21/SF
EGI
$91.8K $20.39/SF
− OpEx
−$27.5K −$6.12/SF
NOI
$64.2K $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%
$1,284,600
Cap Rate 7%
$917,571
Cap Rate 9%
$713,667
Alternative Uses
Best Use
Retail
$917.6K
$802.9K – $1.07M
NOI $64,230 @ 7.0% cap · market cap 9.18%
Second Best
Flex RnD
$565.0K
$494.4K – $659.2K
NOI $39,551 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.59M
NOI $95,681 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Downtown commercial property combines an open customer-facing area with separate warehouse or storage space.
Where is this flex space located?
The property is located at 191 N Elmwood Avenue Lindsay, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 4,500‑square‑foot flex building on a 0.1‑acre parcel; Corner property in downtown Lindsay; Open showroom plus separate warehouse or storage area
