115 Main St Visalia, CA 93291-6334
- Retail space
- 7,318 SF
- 0.08 lot acres
Current Use by Public Records
- Roy Dressel Photography / Photographer / Service Establishment
- Harris Mortgage / Mortgage Broker
- Blend Wine Room / Bar
- Havenly Beauty Spa•Melissa Pinon / Permanent Make-Up Clinic
- Provoke Salon / Beauty Salon
Property Details for 115 Main St
- Year built
- 1922
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.08 lot acres
- Property size
- 7,318 SF
- Zone code
- CDT
- Property type
- Retail space
- APN
- 094-298-004-000
- APU
- 94298004000
Description
This exceptional mixed-use property, located at 115-119 W Main St in Visalia, CA (93291), presents a compelling value-add investment opportunity. The 10,300 square foot building boasts a blend of retail and office space, currently housing five tenants with a 90% occupancy rate. The ground floor features a thriving storefront with a long-term salon tenant and a recently established vintage store, while the upper level accommodates a spa and two office tenants. The building features attractive exposed brick and new luxury vinyl tile flooring in the stairwell and office areas. The current Net Operating Income (NOI) is $74,347, yielding a 4.96% cap rate, with a pro-forma NOI of $79,980 and a pro-forma cap rate of 5.33%, indicating significant upside potential due to below-market rents. The property sits on a 5,041 square foot lot and is zoned for mixed-use downtown development. The asking price is $1,500,000 ($145.63/sq ft), and the property is offered as a cash or finance deal; owner financing is not available. The building benefits from the use of a parking lot to the south. This well-maintained property, owned by the same individuals for an extended period, offers a rare chance to acquire a prime downtown Visalia asset with substantial growth prospects. The property's three Main Street addresses (115, 117, and 119) provide excellent street presence and visibility. The 7,500 square feet of net rentable space is spread across multiple units, creating a diverse tenant base. This is a truly unique opportunity in a vibrant and growing California market.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $385,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Visalia
- County
- Tulare
- State
- California
- Longitude
- -119.292
- Latitude
- 36.3299
- CBSA code
- 47300
- CBSA name
- VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA
