523 Center St Taft, CA 93268

This ±13,500 square foot commercial building in Taft, CA, presents a compelling value-add investment opportunity. Currently vacant, the property boasts a strong history as a former Chrysler dealership and includes ±12,000 square feet of automotive space and ±1,500 square feet of retail space. The automotive area, previously occupied for over a decade by a business generating over $1 million in annual sales, is in turnkey condition. The existing retail space is separately leased for $1,600 per month. The building features a newly installed roof and coolers (January 2024) and sits on a ±0.99-acre lot at a high-visibility corner location on Center Street and 6th Street, offering ample street parking and on-site stalls. The property is zoned DC - Downtown Commercial and offers significant potential for various uses. The asking price is $725,000, representing a price per square foot of $53.70 and a 13.07% cap rate, with a net operating income (NOI) of $94,748. The property's location is convenient, situated between CA-33 and CA-119, serving a population of approximately 20,480 residents within a 10-mile radius. Adjacent properties are also available for potential acquisition. This is a rare chance to acquire a well-maintained, high-profile commercial building with a proven track record in a desirable location. The property's size, location, and recent improvements make it an attractive investment for a variety of buyers.