Retail/Flex Building Investment
For Sale
Contact for pricing
304 W Sequoia Cir, Porterville, CA 93257
Multi-tenant building with value-add potential near Henderson Ave & Main St.
Property Size4,324 SF
Lot Size0.36 Acres
Price / SF$150.32
Days on Market914
Property Features for 304 W Sequoia Cir
General Information
Standard status
Active
Size
4,324 SF
Lot size
0.36 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$26,716
Building Details
Year Built
2003
Units
2
Tenancy
Multi
Listing Agency:
C21 Commercial
(559) 359-4035
Listed By:
Jared Ennis · License #CA
Source:
Crexi
Added: Feb 20, 2024
Changed: Aug 17
Last Checked: Aug 21 at 6:59AM
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 multi-tenant investment opportunity features a freestanding building constructed in 2003, totaling approximately 4,600 square feet and situated on approximately 0.36 acres. The property offers retail or flex spaces located off Henderson Avenue and Main Street. It comprises two separate spaces with unique addresses, currently leased to long-term tenants under Modified Gross lease agreements. The property presents a value-add opportunity with the potential to increase income. The spaces are easy to rent within an under-built market that demonstrates a strong need for this type of space. The property offers flexibility with 1,741 and 2,859 square foot spaces, which can be combined if desired. The spaces are clean, featuring newer paint, hard-surface flooring, LED lighting, newer HVAC units, a quality roof, and new doors, hinges, and fixtures. The building provides access to high-speed internet, separate meters, private ADA restrooms, private entrances, and outdoor LED lights. It also includes demising walls that can be combined. The building offers a full exterior lit private parking area with 23 spaces, plus street parking, existing signage, visibility, and easy access to CA-65 ramps.
Key Highlights
- Value‑add opportunity to increase gross annual income to $74,519 within 6‑12 months.
- Potential 8.7% CAP rate and 10.95% cash‑on‑cash return once stabilized.
- Flexible investment: suitable for owner/user occupancy or lease extension.
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
$38,004
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
5.85%
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%
$760,080
$760.1K
Cap Rate 7%
$542,914
$542.9K
Cap Rate 9%
$422,267
$422.3K
Market Conditions
NOI Build-Up for 4,324 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
$62.3K $14.40/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$58.5K $13.52/SF
− OpEx
−$20.5K −$4.73/SF
NOI
$38.0K $8.79/SF
Area
Tulare County, CA
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$760,080
Cap Rate 7%
$542,914
Cap Rate 9%
$422,267
Alternative Uses
Best Use
Retail
$881.7K
$771.5K – $1.03M
NOI $61,718 @ 7.0% cap · market cap 9.50%
Second Best
Flex RnD
$542.9K
$475.1K – $633.4K
NOI $38,004 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,939 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant building with value-add potential near Henderson Ave & Main St.
Where is this retail space located?
The property is located at 304 W Sequoia Cir Porterville, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Value‑add opportunity to increase gross annual income to $74,519 within 6‑12 months.; Potential 8.7% CAP rate and 10.95% cash‑on‑cash return once stabilized.; Flexible investment: suitable for owner/user occupancy or lease extension.
