Freestanding Drive-Thru
For Sale
Contact for pricing
501 S CHINOWTH ST, Visalia, CA 93277
Freestanding drive-thru restaurant space with an operational kitchen and dining areas, occupied by Carl's Jr. with lease ending 6/30/26.
Property Size5,152 SF
Price / SF$368.79
Days on Market130
Property Features for 501 S CHINOWTH ST
General Information
Standard status
Active
Size
5,152 SF
Property subtype
Mixed Use
Occupancy
100%
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Commercial Hood
Yes
Building Details
Stories
1
Units
1
Tenancy
Single
Listing Agency:
C21 Commercial
Listed By:
Jared Ennis · License #CA
(559) 705-1000
Source:
Crexi
Added: Apr 29
Changed: Sep 3
Last Checked: Sep 1 at 10:56PM
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 C21 Commercial
Investment Insights
Based on property information with market context.
This ±5,152 SF freestanding drive-thru restaurant space is currently occupied by Carl's Jr., with a lease set to end on 6/30/26. The functional floorplan includes an up-to-date, formerly operational kitchen with a hood, range, oven, flat top, grill, several refrigerators, fryers, and freezers, along with large open dining areas and a separate kitchen and food preparation area. The space also includes multiple restrooms.
The property is located on a border corner lot within the Mineral King Shopping Plaza, offering visibility from W Noble Ave and S Chinowth St. It is situated next to a major CA-198 off-ramp.
The owner is working with Carl's Jr. regarding the kitchen equipment, with no guarantees stated as part of the listing.
The property is located on a border corner lot within the Mineral King Shopping Plaza, offering visibility from W Noble Ave and S Chinowth St. It is situated next to a major CA-198 off-ramp.
The owner is working with Carl's Jr. regarding the kitchen equipment, with no guarantees stated as part of the listing.
Key Highlights
- ±5,152 SF freestanding drive‑thru restaurant space in Visalia, CA
- Occupied by Carl's Jr.; lease ends 6/30/26
- Formerly operational, functional kitchen with hood, range, oven, flat top, grill, refrigerators, fryers, and freezers
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
$78,789
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
4.15%
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%
$1,575,780
$1.6M
Cap Rate 7%
$1,125,557
$1.1M
Cap Rate 9%
$875,433
$875.4K
Market Conditions
NOI Build-Up for 5,152 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
$111.3K $21.60/SF
− Vacancy
−$6.2K −$1.21/SF
EGI
$105.1K $20.39/SF
− OpEx
−$26.3K −$5.10/SF
NOI
$78.8K $15.29/SF
Area
Visalia, CA
Vacancy
5.60%
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%
$1,575,780
Cap Rate 7%
$1,125,557
Cap Rate 9%
$875,433
Alternative Uses
Best Use
Specialty Retail
$1.13M
$984.9K – $1.31M
NOI $78,789 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,795 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
156k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 25%
Groceries 19%
Hotels & Casinos 3%
McDonald's
Dining
31,002 visits/mo
0.3 miles
Save Mart
Groceries
29,905 visits/mo
0.4 miles
Dollar Tree
Shops & Services
20,142 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
14,743 visits/mo
0.4 miles
Burger King
Dining
14,361 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding drive-thru restaurant space with an operational kitchen and dining areas, occupied by Carl's Jr. with lease ending 6/30/26.
Where is this drive through restaurant located?
The property is located at 501 S CHINOWTH ST Visalia, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: ±5,152 SF freestanding drive‑thru restaurant space in Visalia, CA; Occupied by Carl's Jr.; lease ends 6/30/26; Formerly operational, functional kitchen with hood, range, oven, flat top, grill, refrigerators, fryers, and freezers
