Single-Tenant Grocery Retail
For Sale
Contact for pricing
49 W Tulare Ave, Tulare, CA 93274
Standalone NNN grocery building on a 1.56-acre lot leased to State Foods Supermarkets.
Property Size14,490 SF
Lot Size1.56 Acres
Price / SF$265.01
Days on Market416
Property Features for 49 W Tulare Ave
General Information
Standard status
Active
Size
14,490 SF
Lot size
1.56 Acres
Property subtype
RETAIL
Additional Details
Cap Rate
6%
Building Details
Tenancy
Single
Listing Agency:
Retail California Commercial Real Estate
(559) 256-1700
Listed By:
Kelsey McKenney · License ##02217573
(559) 447-6218
Source:
Moodyscre
Added: Jul 25, 2025
Changed: Sep 5
Last Checked: Sep 13 at 11:51AM
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 Retail California Commercial Real Estate
Investment Insights
Based on property information with market context.
49 W Tulare Ave is a single-tenant retail property comprising approximately 14,490 square feet on a 1.56-acre lot, leased to State Foods Supermarkets. The tenant recently signed a 10-year NNN lease with options to extend. The offering is described as generating stable net operating income of $240,000 annually, which is presented as a 6% cap rate.
As an added layer of security, the lease is personally guaranteed by both the CEO and CFO of State Foods Supermarkets, Inc. State Foods operates 10 locations throughout California’s Central Valley.
The property is presented as well-located, with strong visibility, ample parking, and consistent consumer traffic supporting long-term income stability.
As an added layer of security, the lease is personally guaranteed by both the CEO and CFO of State Foods Supermarkets, Inc. State Foods operates 10 locations throughout California’s Central Valley.
The property is presented as well-located, with strong visibility, ample parking, and consistent consumer traffic supporting long-term income stability.
Key Highlights
- Single‑tenant retail property with approx. 14,490 SF on a 1.56‑acre lot, leased to State Foods Supermarkets
- Tenant signed a 10‑year NNN lease with options to extend
- Generates stable net operating income of $240,000 annually, representing a 6% cap rate
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
$308,094
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
8.02%
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%
$6,161,880
$6.2M
Cap Rate 7%
$4,401,343
$4.4M
Cap Rate 9%
$3,423,267
$3.4M
Market Conditions
NOI Build-Up for 14,490 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
$434.7K $30.00/SF
− Vacancy
−$23.9K −$1.65/SF
EGI
$410.8K $28.35/SF
− OpEx
−$102.7K −$7.09/SF
NOI
$308.1K $21.26/SF
Area
Tulare County, CA
Vacancy
5.50%
Lease Rate
$30.00 /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%
$6,161,880
Cap Rate 7%
$4,401,343
Cap Rate 9%
$3,423,267
Alternative Uses
Best Use
Specialty Retail
$4.40M
$3.85M – $5.13M
NOI $308,094 @ 7.0% cap · market cap 8.02%
Second Best
Retail
$2.95M
$2.59M – $3.45M
NOI $206,820 @ 7.0% cap · market cap 5.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93274, CA
78,493
Population
24,493
Households
3.2
Avg Household Size
31
Median Age
11%
College-Educated
75%
High-School Grad
219.2 sq mi
ZIP Area
358
Density / Sq Mi
$69,905
Median Household Income
$37,434
Median Earnings
$1,334
Median Rent
$300,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- F & M Market — 206 W Cross Ave, Tulare, CA 93274
- Grocery Outlet — 170 E Cross Ave, Tulare, CA 93274
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Standalone NNN grocery building on a 1.56-acre lot leased to State Foods Supermarkets.
Where is this grocery and convenience store located?
The property is located at 49 W Tulare Ave Tulare, CA.
What is the asking price?
The asking price for this property is $3,840,000.
What are key features of this property?
This property features: Single‑tenant retail property with approx. 14,490 SF on a 1.56‑acre lot, leased to State Foods Supermarkets; Tenant signed a 10‑year NNN lease with options to extend; Generates stable net operating income of $240,000 annually, representing a 6% cap rate
