1965 High StSelma, CA 93662

Property Details for 1965 High St

Year built

1965

Construction

TILT-UP CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

6,000 SF

Zone code

C2

Property type

Retail properties

Property subtype

Retail space

APN

389-181-02

APU

38918102

Description

This exceptional 6,000 square foot retail property in downtown Selma, California, presents a unique investment opportunity. Situated on a 0.17-acre lot at 1965 High Street, the building is currently occupied by a single tenant under a lease significantly below current market rates, offering immediate potential for increased rental income. The property boasts substantial space, with 6,000 square feet of gross rentable area on the main level. A significant advantage is the inclusion of an additional 3,600 square feet of unfinished basement space, ideal for storage or conversion into additional rentable area, further enhancing the property's income-generating capacity. This presents a compelling opportunity for an owner-user seeking a prime location or an investor looking for a property with significant upside potential. The property's location in the heart of downtown Selma provides excellent visibility and accessibility, making it an attractive proposition for a variety of retail businesses. The current below-market lease provides immediate value, while the substantial additional basement space offers significant room for expansion and future development. This is a rare opportunity to acquire a well-located retail property with considerable potential for growth and profitability in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,250,379

  6.5%

  $1,154,196

  7%

  $1,071,753

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,007,788

  Geo Method

  $4,217,119

• Alternative Use

  Use

  Valuation

  Residential

  $973,607

  Hospitality

  $891,819

  Educational

  $741,983

  Medical

  $767,501

  Retail

  $1,154,196

Location Insight

City

Selma

County

Fresno

State

California

Latitude

36.5682

Longitude

-119.612

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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