Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1055 Morton Ave Porterville, CA 93257

    Sponsored
    For Sale
    $695,000

    ±4,674 SF Office, 8.10% Cap Rate

    Property size:
    4,674 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional value-add opportunity presents a ±4,674 square foot, two-story office building situated on a half-acre lot in Porterville, California. The property, identified by APN 251-340-053, is zoned PO-Professional Office and features six individual units, currently 100% occupied, generating a current annual income of $45,600. Each unit, ranging from 322 to 1,100 square feet, boasts private restrooms, entrances, and high-speed internet access. Demising walls allow for flexible configurations to accommodate larger tenants. The building itself is well-maintained, featuring fresh paint, newer flooring, and separate HVAC systems and meters. The asking price is $695,000, representing a price per square foot of $148.69 and a pro-forma NOI of $56,266, yielding an 8.10% pro-forma cap rate. Significant upside potential exists through rent increases and lease extensions, projecting a stabilized annual income of $59,697.60 within 6-12 months. This translates to a 3.09% cash-on-cash return when leveraged with 30% down, resulting in a 1.17 debt coverage ratio. The property benefits from ample parking, mature landscaping, and excellent visibility. This investment is ideal for an owner-user seeking passive income or a value-add investor targeting a strong, under-built market with high demand for smaller office spaces. The property is an excellent candidate for an SBA loan.

    Property Features for 1055 Morton Ave

    General Information

    Property type
    Medical offices
    Square Feet
    4,674 SF
    Lot Size
    21,780 SF

    Building Details

    Buildings
    1
    Stories
    2
    Units
    6

    HighLights

    • Excellent SBA loan candidate with built‑in passive income.
    • Potential for rent growth in under‑market units.
    • Projected 8.10% pro‑forma cap rate and 3.09% cash‑on‑cash return after stabilization.
    • Long‑term tenants, low turnover, and low maintenance.
    • Well‑maintained building with economical spaces.
    • Projected stabilized annual income of $59,697.
    Property Profile Location Intelligence

    Current Use by Public Records

    Debbie's Legal Typing ... Legal Services Luis Rodriguez Realtor ... Real Estate Agent Credence Energy Solar Energy Company Dr Jennifer Braun ... Sewage Treatment Plant Rubik Lopez Realtor Real Estate Agent

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Porterville
    County
    Tulare
    State
    California
    Longitude
    -119.0407648
    Latitude
    36.0729751

    Nearby Similar for Sale

    • $1,100,000
      7,468 SF

      Attractive Office Complex in Porterville

      Well-maintained office complex with detached units and flexible layouts.
      365 Pearson Dr, Porterville, CA 93257
      View Details
    • New
      $299,000
      Pending

      Versatile Commercial Property in Porterville

      Commercial property with potential for business or community uses.
      135 E Harrison Ave, Porterville, CA 93257
      View Details
    • $289,000
      1,054 SF

      Remodeled Office Building in Porterville

      Remodeled office building with five private offices and carport.
      396 N 3Rd St, Porterville, CA 93257
      View Details
    • $649,900
      2,604 SF

      New 2022 Porterville Duplex

      Modern 2022 duplex with designer features and private backyards.
      1137 W Putnam Ave, Porterville, CA 93257
      View Details
    • $699,000
      1.55 Acres

      Commercial Land in Porterville, CA

      1.5+ acre commercial property with office and shop building.
      866 W Olive Ave, Porterville, CA 93257
      View Details
    • $650,000
      4,324 SF

      Freestanding Building Investment Opportunity

      Multi-tenant building with value-add potential near Henderson Ave & Main St.
      304 Sequoia Cir, Porterville, CA 93257
      View Details
    • $3,600,000
      42,000 SF

      Freestanding Industrial Building on Main

      42,000 SF industrial building with expansion land available.
      1343 S Main St, Porterville, CA 93257
      View Details
    • $1,650,000
      2,500 SF

      Established Gas Station Business Opportunity

      Profitable gas station with real estate included in Porterville, CA.
      284 W Olive Ave, Porterville, CA 93257
      View Details
    • $250,000
      5,600 SF

      Two Buildings on Road 192

      Two buildings totaling ±5600 SF with road frontage.
      14683 Road 192, Porterville, CA 93257
      View Details
    • $525,000
      12,703 SF

      Retail Building in Downtown Porterville

      Former furniture store with showroom, office, and storage space.
      214 N 2Nd St, Porterville, CA 93257
      View Details
    • $83,600
      1,248 SF

      Westwood Village Mobile Home

      Located in a gated 55+ community with many amenities.
      100 S Westwood St, Porterville, CA 93257
      View Details
    • $589,500
      28,500 SF

      Industrial Warehouse Buildings For Sale

      28,500 SF industrial warehouse with offices and truck dock.
      180 S E St, Porterville, CA 93257
      View Details

    FAQs

    What type of property is this?
    Medical office - ±4,674 SF Office, 8.10% Cap Rate
    Where is this medical office located?
    The property is located at 1055 Morton Ave Porterville, CA.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Excellent SBA loan candidate with built-in passive income.; Potential for rent growth in under-market units.; Projected 8.10% pro-forma cap rate and 3.09% cash-on-cash return after stabilization.
    Request Owner's contact information
    1055 Morton Ave Porterville, CA 93257
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1055 Morton Ave
    Porterville, CA 93257
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1055 Morton Ave Porterville, CA 93257
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.