Value Add Investment: ±4,404 SF Office Building In Visalia

814 W Center Ave Visalia, CA 93291

814 W Center Ave, Visalia, CA, 93291
814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291 814 W Center Ave, Visalia, CA, 93291
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$695,000
Last Verified:
Sep 01, 2022

Highlights

  • Excellent SBA Loan Candidate w/ Built In Passive Income
  • Rent Growth Of Under-Market Remaining Units
  • 8.09% Cap & 8.93% Cash-on-Cash Return After Stabilized
  • Long-Term Tenants | Low Turnover | Low Maintenance
  • Quality Construction | Well Maintained | Economical Spaces
  • Cash Cow To Produce $71K In Rents Once Stabilized
  • Long Term Tenants w/ Upside Potential Via Leasing
  • Functional Hard To Find Small Spaces | Easy To Rent
  • Easy Access | Separate Suites | Multiple Configurations
  • Ample Parking, Quality Tenants, & Great Exposure
  • Excellent SBA Loan Candidate w/ Built In Passive Income
  • Well-Known Freestanding Office Building @ Corner Location
  • Ample Parking and Mature Landscaping
  • Building Equipped w/ Separate HVAC's & Meters
  • Low Maintenance, Updated Flooring, and Economical Spaces
  • Well-Known Freestanding Office Building @ Corner Location
  • Ample Parking and Mature Landscaping

Description

Value-add investor or owner-user opportunity: Freestanding building totaling ±4,404 SF on ±0.307 Acres (±13,356 SF) of General, Professional, and/or Medical space off Center St in Visalia. The property offers (5) economical separate spaces with 2 units of 1,260 SF leased and 3 units of 3,144 SF available to occupy or lease. Unique investment offering easy-to-rent small office spaces within an under-built market offering a strong need for these type of spaces. Newer 5 Y/O membrane + tar roof ($40K) and 7 ice cold HVAC's (frequently serviced with McGee Refrigeration). Once stabilized, the deal offers a 8.93% cash-on-cash return when leveraged with 30% down, which produces a 1.49 Debt Coverage Ratio!

The value-add opportunity consists of leasing (3) vacancies, addressing the under-market rent of the (2) MTM tenants and extending lease length over the next 6-12 months, and charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger to provide a stabilized gross annual income of $71,340 (566% upside). #A-D various suites currently combined via connecting doors (can be separated) offering various offices, reception areas, conference rooms, and private restrooms. #G has 3 offices and a reception. #F has 4 offices and a reception. #E & H have brand new floor and paint with an open space with rear office. Units #G-H utilize 2 shared restrooms adjacent to the parking lot.

Multiple configurations ranging from 650 SF up to 1,654 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, newer flooring, and move-in ready spaces! Excellent Owner/User with Passive Income, or Investment. Each unit has access to high speed Internet, has private restrooms, private entrances, and consists of demising walls (can be combined).

Located in the most desirable area of the Prestigious Downtown Visalia, which encompasses about 72 square blocks of downtown. Property is well located on Center Ave just North of CA-198 and Main St, South of Murray Ave, West of Court St, and East of Giddings St in Visalia. The property is 0.5 miles from Kaweah Medical Hospital, 1.8 miles to the County Courthouse, and across the street from the Visalia Convention Center. The Property is just south of the intersection with Keller Williams Realty, Lum Lums, Double LL Steak House & Saloon, Wells Fargo Advisors, Main Street Escrow, and Crawdaddy's. Central location with close proximity to many restaurants, government agencies, services and many other amenities.

Visalia is a city in the agricultural San Joaquin Valley of California. Visalia is the fifth-largest city in the San Joaquin Valley, the 42nd most populous in California, and 192nd in the United States. As the county seat of Tulare County, Visalia serves as the economic and governmental center to one of the most productive agricultural counties in the country. Yosemite, Sequoia, and Kings Canyon National Parks are located in the nearby Sierra Nevada mountains, the highest mountain range within the contiguous United States. Visalia is 36 mi west of Sequoia National Park, and 43 mi south of Fresno.


Year Built: 1975
Building Size: 4404sq ft
Building Class: B
Lot Size: 0.31 acres


Documents

Brochure

Map of 814 W Center Ave, Visalia, CA, 93291

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.