Remodeled Freestanding Grocery
For Sale
$1,700,000
217 S L Street, Dinuba, CA 93618
Freestanding grocery property with a meat counter, prep area, and built-out commercial kitchen.
Property Size7,500 SF
Price / SF$226.67
Days on Market179
Property Features for 217 S L Street
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Commercial/Industrial
Additional Details
Business Included
Yes
Building Details
Year Built
1921
Listing Agency:
Gentile Real Estate
(559) 213-5368
Listed By:
Yusef Noaman Supnet Mijalli · License #02158492
(559) 213-5368
Source:
Exitrealty
Added: Mar 5
Changed: Aug 31
Last Checked: Aug 31 at 12:07AM
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 Gentile Real Estate
Investment Insights
Based on property information with market context.
This 7,500-square-foot freestanding grocery property combines a neighborhood market, meat department, and commercial kitchen within one remodeled facility. The retail area is complemented by meat display cases and a dedicated preparation space, while the kitchen is configured for hot food service, prepared meals, and catering operations. The sale includes the operating grocery business and the underlying real estate.
Updated improvements throughout the building support continued grocery retail and food-service use. The flexible interior configuration accommodates multiple operating components, including general merchandise sales, fresh meat service, and prepared-food production. The property was originally built in 1921 and is located at 217 S L Street in Dinuba, California.
Updated improvements throughout the building support continued grocery retail and food-service use. The flexible interior configuration accommodates multiple operating components, including general merchandise sales, fresh meat service, and prepared-food production. The property was originally built in 1921 and is located at 217 S L Street in Dinuba, California.
Key Highlights
- 7,500‑square‑foot freestanding grocery market with underlying real estate
- Remodeled property with updated improvements throughout
- Meat department includes display cases and a preparation 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
$107,050
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
6.30%
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%
$2,141,000
$2.1M
Cap Rate 7%
$1,529,286
$1.5M
Cap Rate 9%
$1,189,444
$1.2M
Market Conditions
NOI Build-Up for 7,500 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
$162.0K $21.60/SF
− Vacancy
−$9.1K −$1.21/SF
EGI
$152.9K $20.39/SF
− OpEx
−$45.9K −$6.12/SF
NOI
$107.0K $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%
$2,141,000
Cap Rate 7%
$1,529,286
Cap Rate 9%
$1,189,444
Alternative Uses
Best Use
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,469 @ 7.0% cap · market cap 9.38%
Second Best
Retail
$1.53M
$1.34M – $1.78M
NOI $107,050 @ 7.0% cap · market cap 6.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93618, CA
30,709
Population
9,040
Households
3.4
Avg Household Size
30
Median Age
14%
College-Educated
71%
High-School Grad
66.9 sq mi
ZIP Area
459
Density / Sq Mi
$63,190
Median Household Income
$31,976
Median Earnings
$1,125
Median Rent
$272,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DINUBA FOOD CENTER — 217 S L St, Dinuba, CA 93618
- United Market Shopping Center — 1665 E El Monte Way, Dinuba, CA 93618
- Grocery Outlet — 667 N Alta Ave, Dinuba, CA 93618
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Freestanding grocery property with a meat counter, prep area, and built-out commercial kitchen.
Where is this grocery and convenience store located?
The property is located at 217 S L Street Dinuba, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,500‑square‑foot freestanding grocery market with underlying real estate; Remodeled property with updated improvements throughout; Meat department includes display cases and a preparation area
