100% Leased Investment w/ Upside: (2) Office/Retail Spaces

Highlights

• 8.7% Cap & 10.95% Cash-on-Cash Return After Stabilized
• Cash Cow To Produce $75K In Rents ($16.19/SF/Yr)
• Functional Hard To Find Flex Spaces | Easy To Rent
• Long Term Tenants w/ Upside Potential Via Lease Extensions
• Quality Roof, Working HVAC's, & Functional Floorplans
• Well-Known Freestanding Building w/ Henderson Ave Exposure
• Private Lit Parking Lot + Street Parking | Great Visibility
• Convenient Location Between CA-65 and CA-190
• Busy & Established Corridor w/ Quick Access to Downtown
• Close Proximity to Major Traffic Generators (Henderson Ave)
• Great Access & Visibility w/ Easy Main St Access
• Against Newly Upgraded Roads w/ Bus Stop Access
• Quality Construction | Well Maintained | Economical Spaces
• Investment Opportunity: Leased Freestanding Commercial Building
• Ample Parking, Quality Tenants, & Great Exposure
• Easy Access | Separate Suites | Multiple Configurations
• Requires Little Management | Newer Construction
• Fully Leased Investment w/ Long-Term Tenancy
• *Do Not Disturb Tenants*

Description

Multi-Tenant Investment Opportunity: 2003 construction clear-span freestanding building totaling ±4,600 SF on ±0.36 AC of retail or flex spaces off Henderson Ave & Main St. Offers (2) economical separate spaces with unique addresses leased to long-term tenants on Modified Gross lease forms. Value-add opportunity with actual rents of $ 44,700/year collected plus upside potential. Unique investment offering where an owner/user can occupy the units next year or an investor can extend the leases. Easy-to-rent small spaces within an under-built market offering a strong need for these type of spaces. After extending leases, the realistic 6-12 month stabilized gross annual income is $74,519 (1.7x existing rent). Once stabilized, the deal offers a 8.7% CAP rate, 10.95% cash-on-cash return when leveraged with 30% down, which produces a 1.61 Debt Coverage Ratio!

The value-add opportunity consists of addressing the under-market rent of the (2) tenants, 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.

Unique flexibility offering 1,741 & 2,859 SF spaces with the ability to combine spaces if desired in the future. Clean spaces with newer paint, hard-surface flooring, LED lighting, newer HVAC units, quality roof (zero leaks), & new doors/hinges/fixtures! Access to high speed Internet, separate meters, private ADA restrooms, private entrances, outdoor LED lights during the night hours, and consists of demising walls (can be combined). Building offers a full exterior lit private parking (23 spaces plus street), excellent existing signage, great visibility & easy access to CA-65 ramps.

Located east of Highway 65, near the intersection of Henderson Avenue & G Street in Porterville, CA. Strategically positioned on a bustling corner in Porterville, California, this building commands attention from a steady flow of through traffic, making it a prominent landmark in the community. With its high visibility and accessibility, the location enhances the business potential for both foot traffic and commuters. Surrounded by the dynamic energy of the city, this corner building serves as a strategic hub, attracting attention and footfall, thereby creating a prime spot for businesses looking to thrive in a bustling environment.

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