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    Prime Development Land Near Airport Title is generated by Realmo AI

    1447 W Scranton Ave, Porterville, CA 93257

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    Vacant land suitable for service station and industrial development.

    Type:Land
    Lot size:
    35.18 Acres
    Added:
    Jul 30, 2020
    Days on Market:
    2133
    Last Refresh:
    May 20 at 8:23 pm

    Property Features for 1447 W Scranton Ave

    General Information

    Standard status
    Active
    Lot size
    35.18 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Kevin Land

    Listing agent Kevin Land License #CA 01516541

    Listing office C21 Commercial

    Listing date Jul 30, 2020

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of C21 Commercial

    HighLights

    • Prime development land master planned for service station/industrial use.
    • Highly visible location with easy access to Highway 65 via Scranton Ave.
    • Flexible zoning allows for a variety of commercial uses.
    • High traffic counts: ±70,776 cars per day at Newcomb St and Scranton Ave.
    • Quick access to major cities including Visalia, Fresno, and Bakersfield.
    • All wet & dry utilities are available at the site.

    Overview

    This is a \u00b135.18-acre vacant land parcel currently zoned AE-20 with master planned zoning for service station and industrial use. The property is located near the Porterville Airport, offering a location suitable for a convenience store, fuel station, or industrial park development. It features a visible location with nearby highway access via the Scranton Avenue exit and entrance. The site provides access to HWY-65, connecting to Visalia, Fresno, Bakersfield, Selma, Fowler, and Kerman. The zoning allows for various commercial uses. Existing ramps direct traffic near the property. The location at Newcomb Street and Scranton Avenue benefits from approximately \u00b170,776 cars per day in the area. Scranton Avenue sees approximately \u00b13,267 cars per day, Poplar Avenue sees approximately \u00b125,338, HWY-65 sees approximately \u00b129,705, and HWY 65 & RD 128 sees 12,466. All wet and dry utilities are available at the site. The location is suitable for retail, commercial, and industrial purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Elams Lakeside Garden Garden Center Lakeside View Event ... Hotel & Motel

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Storage Facility Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Porterville
    County
    Tulare
    State
    California
    Longitude
    -119.049527
    Latitude
    36.0363357

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    FAQs

    What type of property is this?
    Commercial land - Vacant land suitable for service station and industrial development.
    Where is this commercial land located?
    The property is located at 1447 W Scranton Ave Porterville, CA.
    What is the asking price?
    The asking price for this property is $1,531,500.
    What are key features of this property?
    This property features: Prime development land master planned for service station/industrial use.; Highly visible location with easy access to Highway 65 via Scranton Ave.; Flexible zoning allows for a variety of commercial uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kevin Land
    Real Estate License ID: CA 01516541
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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