Two-Unit Medical Office
For Sale
$799,000
306 N Conyer Street, Visalia, CA 93291
Configured for medical or dental operations, with patient, reception, examination, and staff areas in each unit.
Property Size4,851 SF
Days on Market147
Property Features for 306 N Conyer Street
General Information
Standard status
Active
Size
4,851 SF
Property subtype
Commercial
Zoning
PA - Medical, dental, office.
Additional Details
Office Units
2
Building Details
Building Size
4,851 SF
Year Built
1000
Buildings
1
Listing Agency:
RE/MAX Success
(559) 804-5115
Listed By:
Jacob W Taylor · License #2032813
(559) 804-5115
Source:
Home-realty
Added: Apr 6
Changed: Aug 29
Last Checked: Aug 25 at 9:18AM
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 RE/MAX Success
Investment Insights
Based on property information with market context.
This 4,851-square-foot medical office building is arranged as two separate units, providing a practical setup for medical or dental use. Each unit includes a waiting room, reception area, exam rooms, break area, restrooms, and multiple private offices. Exam rooms are plumbed to support flexible clinical configurations.
The property is located at 306 N Conyer Street in Visalia, with access to nearby medical services. Private off-street parking supports patients, staff, and visitors. The existing layout combines front-of-house reception and waiting areas with dedicated examination, office, and staff-support spaces.
The property is located at 306 N Conyer Street in Visalia, with access to nearby medical services. Private off-street parking supports patients, staff, and visitors. The existing layout combines front-of-house reception and waiting areas with dedicated examination, office, and staff-support spaces.
Key Highlights
- 4,851‑square‑foot medical office building
- 2 separate units with waiting, reception, exam, break, and restroom areas
- Exam rooms are plumbed for flexible configurations
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
$62,869
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
7.87%
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%
$1,257,380
$1.3M
Cap Rate 7%
$898,129
$898.1K
Cap Rate 9%
$698,544
$698.5K
Market Conditions
NOI Build-Up for 4,851 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
$116.4K $24.00/SF
− Vacancy
−$11.6K −$2.40/SF
EGI
$104.8K $21.60/SF
− OpEx
−$41.9K −$8.64/SF
NOI
$62.9K $12.96/SF
Area
Visalia, CA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,257,380
Cap Rate 7%
$898,129
Cap Rate 9%
$698,544
Alternative Uses
Best Use
Office B
$1.10M
$959.3K – $1.28M
NOI $76,744 @ 7.0% cap · market cap 9.61%
Second Best
Healthcare Medical
$898.1K
$785.9K – $1.05M
NOI $62,869 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,023 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,879
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93291, CA
63,366
Population
19,866
Households
3.2
Avg Household Size
32
Median Age
24%
College-Educated
81%
High-School Grad
84.2 sq mi
ZIP Area
753
Density / Sq Mi
$81,502
Median Household Income
$41,778
Median Earnings
$1,331
Median Rent
$381,600
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?
Medical Office Space - Configured for medical or dental operations, with patient, reception, examination, and staff areas in each unit.
Where is this medical office space located?
The property is located at 306 N Conyer Street Visalia, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 4,851‑square‑foot medical office building; 2 separate units with waiting, reception, exam, break, and restroom areas; Exam rooms are plumbed for flexible configurations
