Remodeled Office Building For
For Sale
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450 N 3rd St, Coalinga, CA 93210
Remodeled 2,160 SF office building suitable for various uses.
Property Size2,160 SF
Lot Size0.15 Acres
Price / SF$150.46
Days on Market914
Property Features for 450 N 3rd St
General Information
Standard status
Active
Size
2,160 SF
Class
B
Lot size
0.15 Acres
Property subtype
Office
Zoning
MU-Mixed Use
Lease Type
Modified Gross
Building Details
Year Built
1964
Tenancy
Single
Listing Agency:
C21 Commercial
Listed By:
Jared Ennis · License #CA
(559) 432-5533
Source:
Crexi
Added: Mar 14, 2024
Changed: Sep 4
Last Checked: Sep 13 at 4:06AM
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.
The property features approximately 2,160 square feet of space, situated on a 0.15-acre lot. Formerly a medical office building, it has been fully remodeled with recent improvements, making it suitable for repurposing as a residential care facility. The layout includes seven private offices, a kitchen/breakroom, a front reception/waiting area, storage space, and restrooms. The space can be adapted for use as a medical office, general office, or a residential care facility with minimal additional improvements. The property benefits from a high-traffic location near the Polk Street retail corridor, with numerous national and local retailers nearby. The recent remodel includes new hard-surface flooring and carpet, newer HVAC systems, updated energy-efficient features, fresh interior and exterior paint, newer ADA-compliant restrooms, outdoor lighting, a solid parking lot, and landscaping. On-site private parking is available, along with street parking, accommodating various uses such as attorney practices, medical offices, and professional offices. The property offers easy access, ample parking, spacious common restrooms, and direct signage exposure to Van Ness Avenue.
Key Highlights
- Fully remodeled ±2,160 SF building suitable for various uses.
- Prime location at a high‑traffic intersection near Polk St retail corridor with easy access to Van Ness Ave.
- Ample parking with on‑site private lot plus street parking.
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
$27,314
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
8.40%
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%
$546,280
$546.3K
Cap Rate 7%
$390,200
$390.2K
Cap Rate 9%
$303,489
$303.5K
Market Conditions
NOI Build-Up for 2,160 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
$51.8K $24.00/SF
− Vacancy
−$2.2K −$1.01/SF
EGI
$49.7K $22.99/SF
− OpEx
−$22.3K −$10.35/SF
NOI
$27.3K $12.65/SF
Area
Fresno County, CA
Vacancy
4.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
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%
$546,280
Cap Rate 7%
$390,200
Cap Rate 9%
$303,489
Alternative Uses
Best Use
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,314 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.2K
$535.7K – $714.2K
NOI $42,854 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93210, CA
18,581
Population
4,883
Households
3.8
Avg Household Size
34
Median Age
12%
College-Educated
68%
High-School Grad
775.4 sq mi
ZIP Area
24
Density / Sq Mi
$77,850
Median Household Income
$36,583
Median Earnings
$1,034
Median Rent
$258,300
Median Home Value
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Remodeled 2,160 SF office building suitable for various uses.
Where is this assisted living facility located?
The property is located at 450 N 3rd St Coalinga, CA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Fully remodeled ±2,160 SF building suitable for various uses.; Prime location at a high‑traffic intersection near Polk St retail corridor with easy access to Van Ness Ave.; Ample parking with on‑site private lot plus street parking.
