Freestanding Office Building with
For Sale
Contact for pricing
324 Bullard Ave, Clovis, CA 93612
Move-in-ready freestanding office offers 12 private offices, reception, breakroom, bullpen, and skylights with parking on two sides.
Property Size3,870 SF
Price / SF$257.11
Days on Market347
Property Features for 324 Bullard Ave
General Information
Standard status
Active
Size
3,870 SF
Property subtype
OFFICE
Listing Agency:
KW Commercial | Central California
(559) 705-1000
Listed By:
Jared Ennis
(559) 302-8698
Source:
Moodyscre
Added: Oct 6, 2025
Changed: Sep 17
Last Checked: Sep 16 at 9:02PM
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 KW Commercial | Central California
Investment Insights
Based on property information with market context.
This freestanding office building is move-in ready with new finishes and skylights. The interior layout includes 12 private offices, a reception area, a large breakroom, and a bullpen area, supported by a configuration designed for day-to-day office use.
Located at 324 Bullard Ave in Clovis, the property is positioned centrally in “Old Town Clovis” with access across the city. Parking is available on two sides of the building, and the site is described as surrounded by ample parking and mature landscaping. The building is noted as being between Hwy-168 and Clovis Avenue. The property is also listed in a market area with 312,271 residents within a 5-mile radius.
Located at 324 Bullard Ave in Clovis, the property is positioned centrally in “Old Town Clovis” with access across the city. Parking is available on two sides of the building, and the site is described as surrounded by ample parking and mature landscaping. The building is noted as being between Hwy-168 and Clovis Avenue. The property is also listed in a market area with 312,271 residents within a 5-mile radius.
Key Highlights
- 3,870 SF freestanding office building with great exposure and move‑in‑ready new finishes
- (12) private offices plus reception, large breakroom, and bullpen area
- Parking on two sides of the building for easy access
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
$51,096
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
5.14%
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%
$1,021,920
$1.0M
Cap Rate 7%
$729,943
$729.9K
Cap Rate 9%
$567,733
$567.7K
Market Conditions
NOI Build-Up for 3,870 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
$83.6K $21.60/SF
− Vacancy
−$15.5K −$4.00/SF
EGI
$68.1K $17.60/SF
− OpEx
−$17.0K −$4.40/SF
NOI
$51.1K $13.20/SF
Area
Clovis, CA
Vacancy
18.50%
Lease Rate
$21.60 /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%
$1,021,920
Cap Rate 7%
$729,943
Cap Rate 9%
$567,733
Alternative Uses
Best Use
Office B
$729.9K
$638.7K – $851.6K
NOI $51,096 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$975.0K
$853.1K – $1.14M
NOI $68,248 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Move-in-ready freestanding office offers 12 private offices, reception, breakroom, bullpen, and skylights with parking on two sides.
Where is this office building located?
The property is located at 324 Bullard Ave Clovis, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,870 SF freestanding office building with great exposure and move‑in‑ready new finishes; (12) private offices plus reception, large breakroom, and bullpen area; Parking on two sides of the building for easy access
