Medical Office Building with Two
For Sale
$799,000
306 N Conyer Street, Visalia, CA 93291
COMMERCIAL - Visalia, CA
Property Size4,851 SF
Lot Size0.36 Acres
Price / SF$164.71
Days on Market131
Property Features for 306 N Conyer Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
PA - Medical, dental, office.
Directions
From HWY 198 use the Central Visalia exit. Head North on Locust Ave, then head West on Mineral King Ave, then head North on Conyer. Property is located on East side of the road.
Subdivision
Visalia NW
Standard status
Active
APN
093181012000
Size
4,851 SF
Lot size
0.36 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Flooring type
Laminate, Vinyl, Carpet
Roof type
Flat, Composition
Additional Structures
Outbuilding
Listing Agency:
RE/MAX Success · RE/MAX International
(559) 734-1400
Listed By:
Jacob Taylor · License #2032813
(559) 804-5115
Added: Apr 6
Changed: Aug 4
Last Checked: Aug 14 at 7:06PM
MLS# 240856
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.
Centrally located medical office building in Visalia configured as two separate units. Each unit includes a waiting room and reception area, exam rooms, a break area, and rest rooms, along with multiple private offices. Exam rooms are plumbed for flexibility. Interior finishes include vinyl, carpet, and laminate flooring. The building has central heating and central air conditioning, with a flat and composition roof.
The property has public water and public sewer service. Off-street private parking is provided, supporting everyday patient visits and staff access.
With its current layout for clinical use, the building is suited for medical or dental operations that need dedicated spaces within a two-unit configuration.
The property has public water and public sewer service. Off-street private parking is provided, supporting everyday patient visits and staff access.
With its current layout for clinical use, the building is suited for medical or dental operations that need dedicated spaces within a two-unit configuration.
Key Highlights
- Two separate medical office units with waiting room, reception, exam rooms, break area, and rest rooms
- Exam rooms are plumbed for flexibility
- Central heating and central air conditioning
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
415
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 - Centrally located medical office building with two separate units, each with patient waiting, exam rooms, and private parking.
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: Two separate medical office units with waiting room, reception, exam rooms, break area, and rest rooms; Exam rooms are plumbed for flexibility; Central heating and central air conditioning
