This exceptional value-add opportunity presents a freestanding, ±13,000 square foot office building situated on a ±0.35-acre lot in Tulare County's vibrant downtown commercial zone. Currently housing seven separately leased spaces, this Class B property offers significant upside potential. Three vacant units, ranging from approximately 822 to 2,401 square feet, are available for lease, along with the potential to combine spaces for larger configurations up to approximately 6,879 square feet. The building boasts attractive features including new paint, VCT flooring, LED lighting, updated HVAC units, a quality roof, new baseboards and doors, and ample private parking (47 spaces plus street parking). Existing tenants are on gross leases, with current annual income at $113,608. A stabilized annual income of $197,428 is projected within 6-12 months, based on leasing vacancies, adjusting under-market rents, and implementing standard pass-through expense charges for water, sewer, trash, and gardening. The property benefits from excellent visibility, convenient access to CA-65, and a prime downtown location near the newly constructed courthouse. High-speed internet, separate meters, private ADA restrooms, and private entrances with secured entry are also provided. This unique investment offers a strong cash flow with a projected 11.12% proforma cap rate and a 17.35% cash-on-cash return when leveraged with 30% down, resulting in a 2.22 Debt Coverage Ratio. The building's flexible layout, modern amenities, and strategic location make it an ideal investment for owner-users or value-add investors seeking a strong return in an underserved market.
Highlights
13,000 SF retail/office building on a 0.35-acre lot in Tulare County.
Multiple suites available, ranging from 2,000 to 6,500 SF.
Class B building with Downtown Commercial zoning.
Strong value-add opportunity with potential for significant rent increases and improved cash flow.
Well-maintained building with recent upgrades including new paint, flooring, lighting, HVAC, and roofing.
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Contacts
Jared Ennis
Kevin Land
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75 Olive Ave, Porterville, California, 93257
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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75 Olive Ave
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