Downtown Office
65 W Olive Avenue Porterville, CA 93257
For Sale
$1,900,000
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 Market639
Property Features for 65 W Olive Avenue
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Lot size
- 0.52 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1977
Listing Agency:
(559) 734-1700
Listed By:
Schuil Ag Real Estate
(559) 734-1700
Source:
Xome
Added: Oct 26, 2024
Changed: Jul 23
Last Checked: Jul 26 at 3:07AM
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.0k | $30.00 |
| − Vacancy | −$8.4k | −$1.65 |
| EGI | $144.6k | $28.35 |
| − OpEx | −$36.1k | −$7.09 |
| NOI | $108.4k | $21.26 |
5,100 SF · lease $30.00/SF/yr · vacancy 5.50% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Citizens Business Bank
Bank
FAQs
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 W 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
