0 Carona Ave, Corning, CA 96021
This exceptional 3.71-acre commercial land parcel in Corning, CA, presents a unique investment opportunity. Located along the busy I-5 corridor, this property boasts Highway Commercial zoning within the Hwy 99-W Specific Plan, further enhanced by two overlay districts promoting freeway-oriented commercial and mixed-use projects. Its strategic location halfway between Sacramento and Redding makes it a prime spot for businesses catering to commuters, benefiting from high traffic volume. The area's thriving economy is fueled by a Tesla charging station, numerous hotels, quick-service restaurants, and other commuter-focused businesses. The presence of a major truck stop hub and the popular Rolling Hills Casino, which hosts a wide array of events including concerts, equestrian events, and sporting competitions, significantly boosts tourism and creates a robust market. Currently utilized as a productive olive orchard, the land offers immediate income potential while presenting significant upside for future development. The APN is 069-210-077-000. The asking price is $450,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.