304 Sequoia Cir Porterville, CA 93257
Multi-tenant building with value-add potential near Henderson Ave & Main St.
Property size:
4,324 SFLot size:
0.36 AcresProperty Features for 304 Sequoia Cir
General Information
- Size
- 4,324 SF
- Lot size
- 0.36 Acres
Source:
Moodyscre
Listing Agent: Jared Ennis
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Freestanding Building Investment Opportunity
This multi-tenant investment opportunity features a freestanding building constructed in 2003, totaling approximately 4,600 square feet, situated on approximately 0.36 acres. The property is located off Henderson Avenue and Main Street and offers two separate spaces with unique addresses, currently leased to long-term tenants under Modified Gross lease agreements. The property presents a value-add opportunity with current annual rents of $44,700 and potential for increased income. The spaces, measuring 1,741 and 2,859 square feet, offer the flexibility to be combined in the future. The building features clean spaces with recent paint, hard-surface flooring, LED lighting, newer HVAC units, a quality roof, and new doors, hinges, and fixtures. It also includes access to high-speed internet, separate meters, private ADA restrooms, private entrances, and outdoor LED lighting. The building provides a private parking area with 23 spaces, existing signage, and convenient access to CA-65 ramps. The property is suitable for retail or flex spaces and offers potential for an owner/user to occupy the units or for an investor to extend the leases. The property is located in an under-built market with a demand for these types of spaces. Stabilized gross annual income is projected to be $74,519 within 6-12 months by addressing under-market rents and extending lease lengths.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Built For Life Inc
Gym
Location Insight
- Map
- Local Demand
- City
- Porterville
- County
- Tulare
- State
- California
- Longitude
- -119.0234526
- Latitude
- 36.0819238
Nearby Similar for Sale
FAQs
What type of property is this?
Office space - Multi-tenant building with value-add potential near Henderson Ave & Main St.
Where is this office space located?
The property is located at 304 Sequoia Cir Porterville, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: - Value-add opportunity to increase gross annual income to $74,519 within 6-12 months.; - Potential for 8.7% CAP rate and 10.95% cash-on-cash return once stabilized.; - Flexible spaces (1,741 & 2,859 SF) that can be combined, appealing to both owner-users and investors.