2908 Mooney Blvd Visalia, CA 93277
- Lifestyle centers
- 11,015 SF
Current Use by Public Records
- Que Pasa Mexican Cafe / Burrito Restaurant / Mexican Restaurant
Property Details for 2908 Mooney Blvd
- Year built
- 1978
- Property size
- 11,015 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 11,015-square-foot, four-unit retail center in Visalia, California, presents a compelling investment opportunity. Located at 2908 S Mooney Blvd, this single-story building, constructed in 1978 and extensively renovated in 2016, boasts 100% occupancy with a strong tenant roster. The property features a fee simple ownership structure and is offered at $5,632,000, representing a 7.00% cap rate and a pro-forma cap rate of 7.10%. The Net Operating Income (NOI) is $394,036, with a pro-forma NOI of $400,150. Leases are NNN, with built-in rental increases of 3% annually and 10% every five years, ensuring consistent cash flow growth. The property sits on a 48,787-square-foot lot and benefits from over 150 feet of frontage on Mooney Boulevard, a high-traffic area with 28,000 cars per day. The strong demographics of the area, with over 131,000 people within a 5-mile radius and average household incomes exceeding $91,000, further enhance the investment potential. The majority of tenants (86%) have occupied the space since the 2016 renovation, demonstrating exceptional tenant retention and commitment. This turnkey investment offers a blend of strong current performance and significant future growth potential. The APN is 122-320-077-000. The property is suitable for a 1031 exchange.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Visalia
- County
- Tulare
- State
- California
- Longitude
- -119.313
- Latitude
- 36.3049
