Owner User/Investment Opportunity: Restaurant + Apartment in Lemoore, CA
405 W D St
Lemoore, CA 93245
Highlights
- Owner User/Investment Opportunity: Restaurant & Apartment
- ±1,900 SF Remodeled Restaurant in Lemoore, CA
- ±1,500 SF Occupied Apartment & ±570 SF Garage Included in Sale
- ±350 SF Office & ±1,500 SF Storage Below Apartment
- Restaurant Equipment Owned By Current Tenant
- New Urethane Enhanced White Waterproof Roof Coating
- Long Term Tenants w/ Upside Potential Via Leasing
- Quality Roof, Working HVAC's, & Functional Floorplans
- Well-Known Freestanding Building w/ D Street Exposure
- Private Lit Parking Lot + Street Parking | Great Visibility
- Convenient Location Between CA-41 and CA-198
- Busy & Established Corridor w/ Quick Access to Downtown
- Quality Construction | Well Maintained | Economical Spaces
- Energy Efficient Improvements - Separately Metered Utilities
- Seller Carry Available
Description
Leased freestanding buildings totaling ±5,820 SF consisting of commercial & residential units. The property includes a ±1,900 SF restaurant space & a ±1,500 SF apartment with an attached ±570 SF garage. There is additional potential to lease out a ±350 office suite & a ±1,500 SF warehouse/storage suite. This is a value-add opportunity with current occupancy at 68% and actual collected rents totaling $39,600 per year, with upside potential. The site features great visibility, convenient parking, & easy access to nearby CA-41 & CA-198 on/off ramps.
The value-add opportunity consists of addressing the below-market rent of the (2) existing tenants, extending lease length over the next 6-12 months. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $50,100.00\year. Unique investment offering easy to-rent small spaces within an under-built market offering a strong need for these type of units.
The property located at the southwest corner (SWC) of W D Street and Fox Street in Lemoore, California, is situated in the heart of the city's vibrant downtown district. This prime location offers excellent visibility and accessibility, being just 1 mile from Highway 198 and 2 miles from Highway 41.
Lemoore is a city in Kings County, California, United States. Lemoore is located 7.5 miles (12 km) west-southwest of Hanford, at an elevation of 230 feet (70 m). It is part of the Hanford-Corcoran Metropolitan Statistical Area. The population was 24,531 at the 2010 Census. The California Department of Finance estimated that Lemoore's population was 25,892 on January 1, 2018.
