Downtown Office
For Sale
$1,900,000
65 Olive Avenue, Porterville, CA 93257
Fully leased office building on W Olive Avenue, leased to Citizens Business Bank through June 30, 2027.
Property Size5,100 SF
Lot Size0.52 Acres
Price / SF$372.55
Days on Market754
Property Features for 65 Olive Avenue
General Information
Standard status
Active
Size
5,100 SF
Lot size
0.52 Acres
Property subtype
General Commercial
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
3
Irregular
Building Details
Year Built
1977
Tenancy
Single
Listing Agency:
(559) 734-1700
Listed By:
Schuil Ag Real Estate
(559) 734-1700
Source:
Xome
Added: Jul 19, 2024
Changed: Aug 8
Last Checked: Aug 11 at 5:44AM
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 Schuil Ag Real Estate
Investment Insights
Based on property information with market context.
This commercial office building totals approximately 5,100 square feet on a lot of approximately 22,500 square feet. The property is currently rented and is described as a fully leased investment, with a tenant under lease through June 30, 2027 and two additional five-year extension options.
The building is located in downtown Porterville at 65 W Olive Avenue, on Olive Ave at Main Street. The offering notes convenient access to CA Highway 65 and proximity to other local businesses.
Leasing terms in the remarks include a monthly rent of $10,000 per month on an NNN basis.
The building is located in downtown Porterville at 65 W Olive Avenue, on Olive Ave at Main Street. The offering notes convenient access to CA Highway 65 and proximity to other local businesses.
Leasing terms in the remarks include a monthly rent of $10,000 per month on an NNN basis.
Key Highlights
- Fully leased commercial office building at 65 W. Olive Avenue in downtown Porterville
- Rented to Citizens Business Bank through June 30, 2027 with two additional five‑year lease options
- Lease rate of $10,000 per month, NNN
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
$108,439
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
5.71%
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%
$2,168,780
$2.2M
Cap Rate 7%
$1,549,129
$1.5M
Cap Rate 9%
$1,204,878
$1.2M
Market Conditions
NOI Build-Up for 5,100 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
$153.0K $30.00/SF
− Vacancy
−$8.4K −$1.65/SF
EGI
$144.6K $28.35/SF
− OpEx
−$36.1K −$7.09/SF
NOI
$108.4K $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%
$2,168,780
Cap Rate 7%
$1,549,129
Cap Rate 9%
$1,204,878
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,439 @ 7.0% cap · market cap 5.71%
Second Best
Retail
$1.04M
$909.9K – $1.21M
NOI $72,794 @ 7.0% cap · market cap 3.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 93257, CA
79,569
Population
25,020
Households
3.2
Avg Household Size
31
Median Age
15%
College-Educated
69%
High-School Grad
378.9 sq mi
ZIP Area
210
Density / Sq Mi
$58,261
Median Household Income
$30,344
Median Earnings
$1,086
Median Rent
$276,400
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?
Office building - Fully leased office building on W Olive Avenue, leased to Citizens Business Bank through June 30, 2027.
Where is this office building located?
The property is located at 65 Olive Avenue Porterville, 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: Fully leased commercial office building at 65 W. Olive Avenue in downtown Porterville; Rented to Citizens Business Bank through June 30, 2027 with two additional five‑year lease options; Lease rate of $10,000 per month, NNN
