Office Building with Bank
For Sale
$1,200,000
215 S Madera Avenue, Kerman, CA 93630
Professional office property with private offices, a conference room, reception area, and original bank vault.
Property Size4,574 SF
Price / SF$262.35
Days on Market9
Property Features for 215 S Madera Avenue
General Information
Standard status
Active
Size
4,574 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1967
Buildings
1
Listing Agency:
Real Broker
(209) 261-9800
Listed By:
Mia D. Shannon · License #DRE #02205099
(209) 261-9800
Source:
Exitrealty
Added: Jul 31
Changed: Aug 8
Last Checked: Aug 8 at 5:10AM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 1967, this 4,574-square-foot office building occupies 215 S. Madera Avenue in Kerman. The existing layout includes four private offices, a conference room, reception area, and the original bank vault, which provides secure storage or a distinctive architectural element. The configuration supports professional or administrative office use.
The property sits along one of Kerman’s primary commercial corridors, with ongoing retail development contributing to increased traffic in the surrounding area. Its former banking layout combines conventional office components with specialized features that distinguish the building from a typical office property.
The property sits along one of Kerman’s primary commercial corridors, with ongoing retail development contributing to increased traffic in the surrounding area. Its former banking layout combines conventional office components with specialized features that distinguish the building from a typical office property.
Key Highlights
- 4,574‑square‑foot office building at 215 S. Madera Avenue, Kerman, CA 93630
- Four private offices, conference room, and reception area
- Original bank vault offers secure storage or a distinctive architectural feature
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
$54,876
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
4.57%
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%
$1,097,520
$1.1M
Cap Rate 7%
$783,943
$783.9K
Cap Rate 9%
$609,733
$609.7K
Market Conditions
NOI Build-Up for 4,574 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
$105.9K $23.16/SF
− Vacancy
−$32.8K −$7.16/SF
EGI
$73.2K $16.00/SF
− OpEx
−$18.3K −$4.00/SF
NOI
$54.9K $12.00/SF
Area
Fresno County, CA
Vacancy
30.93%
Lease Rate
$23.16 /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%
$1,097,520
Cap Rate 7%
$783,943
Cap Rate 9%
$609,733
Alternative Uses
Best Use
Office B
$783.9K
$686.0K – $914.6K
NOI $54,876 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,747 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 93630, CA
21,103
Population
6,265
Households
3.4
Avg Household Size
31
Median Age
15%
College-Educated
60%
High-School Grad
162.2 sq mi
ZIP Area
130
Density / Sq Mi
$60,388
Median Household Income
$34,489
Median Earnings
$1,187
Median Rent
$343,400
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 - Professional office property with private offices, a conference room, reception area, and original bank vault.
Where is this office building located?
The property is located at 215 S Madera Avenue Kerman, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,574‑square‑foot office building at 215 S. Madera Avenue, Kerman, CA 93630; Four private offices, conference room, and reception area; Original bank vault offers secure storage or a distinctive architectural feature
