Single Tenant Office Investment Opportunity - 25 year same tenant history

420 E Laurel St. Willows, CA 95988

FOR SALE
Property Type:
Single Tenant Office
Amount:
$1,800,000
Last Verified:
Nov 05, 2020

Highlights

  • 7.62% Cap Rate
  • 1.7 miles to Interstate 5
  • Glenn County long term tenant
  • Single Tenant Office Investment
  • 25 year same tenant history

Description

420 E Laurel St. is an Office asset of approximately +/-32,140sf building situated on +/-105,422sf lot. The property consists of four parcels/apns. The current tenant is Glen County Health and Human Services agency which has been a long term tenant with historic tenancy data for a new investor considering this asset. Glen County has been occupying this location for over 25 years. In-place lease currently has 3-options to renew. This is an ideal investment for a 1031 exchange buyer needing to replace their cash flow income.

The property is located in Willows, CA. Willows (formerly, Willow) is the county seat of Glenn County, California. As the county seat, the city is a home to regional government offices, including the California Highway Patrol, California Department of Motor Vehicles and the United States Bureau of Reclamation. The property is 1.7 miles to Interstate 5 and 1.4 miles to Willows-Glenn County Airport.

Willows is located halfway between Sacramento and Redding in Northern California. Primarily an agricultural community, major commodities include rice, almonds, milk products, prunes and livestock. Glenn County has a population of 29,434. With over 1,188 farms, agriculture remains the primary source of Glenn County's economy. Glenn County was incorporated on March 5, 1891.

According to the United States Census Bureau, the city has a total area of 2.9 square miles (7.4 km²), of which, 2.8 square miles (7.4 km²) of it is land and 0.03 square miles (0.1 km²) of it (0.92%) is water. The Willow post office opened in 1876; the name was changed to Willows in 1916.


Year Built: 1959
Building Size: 32140.0sq ft
Building Class: C
Lot Size: 2.43 acres

Map of 420 E Laurel St., Willows, CA, 95988

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