32588 Ca-190 Springville, CA 93265
- Office Properties & Spaces
- 8,704 SF
- 4.24 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 32588 Ca-190
- Year built
- 1971
- Lot size
- 4.24 lot acres
- Property size
- 8,704 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Office space
Description
This exceptional investment opportunity presents a fully leased, 8,704 square foot Class B creative office building in Springville, CA. Situated on a 4.24-acre lot (APN 284-890-005), this property boasts a 100% occupancy rate with a government-guaranteed lease extending to October 31, 2027. The building, originally constructed in 1971 and extensively renovated in 2012, serves as a US Forest Service and Fire Jumper Division ranger station, strategically located within the 319,491-acre Western Divide Ranger District of Sequoia National Forest. The current net lease, with limited landlord responsibilities, generates a NOI of $166,700, representing a 7.38% cap rate and a pro-forma cap rate of 8.00%. The property's pro-forma NOI is projected at $180,720. The asking price is $2,258,128, translating to $259.44 per square foot. Zoned PD-F-M (Planned Development-Foothill), the property includes additional buildable land, presenting significant future expansion potential. This investment offers a secure, high-yield return with substantial upside potential upon lease renewal, given the current below-market rent of $27.17 per square foot annually. The property's prime location within a high-traffic area near Sequoia National Forest and Kings Canyon National Parks, coupled with the strong government tenant and long-term lease, makes this a compelling investment opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springville
- County
- Tulare
- State
- California
- Longitude
- -118.846
- Latitude
- 36.1017
