Four-Office Condo
For Sale
$265,000
246 East Caldwell Avenue, Visalia, CA 93277
Condominium office layout with private rooms, restrooms, and a shared lobby.
Property Size1,000 SF
Days on Market68
Property Features for 246 East Caldwell Avenue
General Information
Standard status
Active
Size
1,000 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,000 SF
Year Built
1983
Listing Agency:
(559) 696-6842
Listed By:
Kyle Rhinebeck, SIOR · License #CalDRE #00928751
Source:
Newmarkpearson
Added: Jun 24
Changed: Aug 29
Last Checked: Aug 29 at 7:34PM
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 Kyle Rhinebeck, SIOR
Investment Insights
Based on property information with market context.
This condominium office unit at 246 East Caldwell Avenue includes four separate office rooms, two restrooms, and a lobby. The property was built in 1983 and is located in Visalia, California.
Key Highlights
- Four individual office rooms
- Two restrooms within the unit
- Lobby area included
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
$15,820
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
5.97%
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%
$316,400
$316.4K
Cap Rate 7%
$226,000
$226.0K
Cap Rate 9%
$175,778
$175.8K
Market Conditions
NOI Build-Up for 1,000 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
$26.4K $26.40/SF
− Vacancy
−$5.3K −$5.31/SF
EGI
$21.1K $21.09/SF
− OpEx
−$5.3K −$5.27/SF
NOI
$15.8K $15.82/SF
Area
Visalia, CA
Vacancy
20.10%
Lease Rate
$26.40 /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%
$316,400
Cap Rate 7%
$226,000
Cap Rate 9%
$175,778
Alternative Uses
Best Use
Office B
$226.0K
$197.8K – $263.7K
NOI $15,820 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.9K
$239.7K – $319.6K
NOI $19,176 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 93277, CA
53,196
Population
19,434
Households
2.7
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,350
Density / Sq Mi
$79,532
Median Household Income
$43,555
Median Earnings
$1,406
Median Rent
$320,500
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 units - Condominium office layout with private rooms, restrooms, and a shared lobby.
Where is this office units located?
The property is located at 246 East Caldwell Avenue Visalia, CA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Four individual office rooms; Two restrooms within the unit; Lobby area included
