304 Sequoia CirPorterville, CA 93257

Property Details for 304 Sequoia Cir

Year built

2003

Construction

STEEL FRAME

Lot size

0.36 AC

Property size (Sq ft)

4,324 SF

Zone code

RM2

Property type

Office properties

Property subtype

Office buildings

APN

247-160-033-000

APU

247160033000

Description

This exceptional investment opportunity presents a fully leased, multi-tenant retail property located at 304 W Sequoia Cir, Porterville, CA 93257. The 4,324 square foot building, constructed in 2003, sits on a 0.36-acre lot and features two separate, economical spaces totaling approximately 4,600 square feet. Currently boasting 100% occupancy with long-term tenants under modified gross leases, the property generates a current NOI of $26,716, representing a 4.11% cap rate. However, significant upside potential exists. The pro-forma NOI is projected at $61,327, resulting in a 9.43% pro-forma cap rate. This increase is achievable through lease extensions and adjustments to operating expense pass-throughs. The property features clean spaces with newer paint, hard-surface flooring, LED lighting, newer HVAC units, a quality roof, and new doors/hinges/fixtures. Amenities include high-speed internet access, separate meters, private ADA restrooms, private entrances, outdoor LED lighting, and a demising wall allowing for future combination of spaces. The building also offers a fully lit private parking lot with 23 spaces plus street parking, excellent signage, and high visibility due to its location between CA-65 and CA-190, with easy access to Main Street and Henderson Avenue. The property's location in a busy, established corridor provides convenient access to downtown and major traffic generators. The asking price is $650,000, representing a price per square foot of $150.32. This presents a rare opportunity to acquire a well-maintained, high-performing retail investment with substantial growth potential in a strong market. The remaining lease term on the current tenants is one year.

• CAP approach

  CAP return

  Valuation

  6%

  $612,998

  6.5%

  $565,844

  7%

  $525,426

• Comparable approach

  Method

  Valuation

  Relative Method

  $574,185

  Geo Method

  $822,252

• Alternative Use

  Use

  Valuation

  Residential

  $701,646

  Hospitality

  $642,704

  Educational

  $534,722

  Medical

  $553,112

  Retail

  $831,790

Location Insight

City

Porterville

County

Tulare

State

California

Latitude

36.0819

Longitude

-119.023

CBSA code

47300

CBSA name

VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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