115 Main St Visalia, CA 93291-6334
Property profile & analytics
115 Main St Visalia, CA 93291-6334
- Retail space
- 7,318 SF
- 0.08 lot acres
Property ID
US09-5997336
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Roy Dressel Photography / Photography Service / (Bike/Boat/Book/etc) Store
- Harris Mortgage / Loan Service / Bank
- Blend Wine Room / Bar & Pub
- Havenly Beauty Spa•Melissa Pinon / Medical Clinic / Skin Care Clinic
- Provoke Salon / Hair Salon / Nail 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
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,740,000
- 6.5%
- $1,605,000
- 7%
- $1,490,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,200,000
- AI Estimate
- $845,000
Market price range: $474k - $1.61MMarket price range: $317k - $1.15M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,125,000 Current use
- COMMERCIAL (GENERAL)
- $2,010,000 Change: +78% Conversion: Easy
- MEDICAL BUILDING
- $1,595,000 Change: +42% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,470,000 Change: +31% Conversion: Difficult
- OFFICE BUILDING
- $1,135,000 Change: +0% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $990,000 Change: -12% Conversion: Difficult
Get a detailed, property-specific estimation — 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
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$11,272
$132,201
$854,920
$987,121
-
$0.00
$0.00
$0.00
