Freestanding Corner Office
For Sale
Contact for pricing
822 W Center Ave, Visalia, CA 93291
2,278 SF office building with month-to-month tenant.
Property Size2,278 SF
Price / SF$215.10
Days on Market1467
Property Features for 822 W Center Ave
General Information
Standard status
Active
Size
2,278 SF
Class
B
Property subtype
Office
Zoning
PA
Occupancy
40%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Year Built
1973
Year Renovated
2019
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
C21 Commercial
(559) 359-4035
Listed By:
Jared Ennis · License #CA
Source:
Crexi
Added: Aug 18, 2022
Changed: Aug 11
Last Checked: Aug 22 at 6:59PM
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 is a freestanding corner office building with concrete block and brick construction, offering approximately 2,278 square feet of space. The building is currently occupied by a month-to-month tenant, who occupies 40% of the front space and pays $950 per month. This area includes a reception area, a large storage space, and two private offices. The remaining 60% of the building, accessible via a separate entrance from the reception area, features three large rooms, a large storage or office area, and a private restroom. The property is positioned against the street, providing street parking in addition to a private parking lot. The space is well-maintained and offers potential for interior modifications to suit future occupants' needs. The property is located at 822 W Center Ave, Visalia, CA 93291.
Key Highlights
- Freestanding corner office building with ±2,278 SF.
- Existing tenant provides immediate income of $950/month on a month‑to‑month lease.
- Potential for SBA loan with 10% down.
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
$36,038
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
7.35%
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%
$720,760
$720.8K
Cap Rate 7%
$514,829
$514.8K
Cap Rate 9%
$400,422
$400.4K
Market Conditions
NOI Build-Up for 2,278 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
$60.1K $26.40/SF
− Vacancy
−$12.1K −$5.31/SF
EGI
$48.1K $21.09/SF
− OpEx
−$12.0K −$5.27/SF
NOI
$36.0K $15.82/SF
Area
Visalia, CA
Vacancy
20.10%
Lease Rate
$26.40 /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%
$720,760
Cap Rate 7%
$514,829
Cap Rate 9%
$400,422
Alternative Uses
Best Use
Office B
$514.8K
$450.5K – $600.6K
NOI $36,038 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.0K
$546.0K – $728.1K
NOI $43,683 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,861
Businesses Nearby
Explore this area
Business Placement
Demographics for 93291, CA
63,366
Population
19,866
Households
3.2
Avg Household Size
32
Median Age
24%
College-Educated
81%
High-School Grad
84.2 sq mi
ZIP Area
753
Density / Sq Mi
$81,502
Median Household Income
$41,778
Median Earnings
$1,331
Median Rent
$381,600
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 - 2,278 SF office building with month-to-month tenant.
Where is this office building located?
The property is located at 822 W Center Ave Visalia, CA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Freestanding corner office building with ±2,278 SF.; Existing tenant provides immediate income of $950/month on a month‑to‑month lease.; Potential for SBA loan with 10% down.
