14320 Lakeshore Dr Clearlake, CA 95422-8149

Property Details for 14320 Lakeshore Dr

Year built

1946

Lot size

0.56 lot acres

Property size

1,708 SF

Property type

Retail space

APN

040-091-400-000

APU

40091400000

Description

This exceptional investment opportunity presents a 7,738 square foot, net-leased auto shop in Clearlake, CA. The property, comprised of three single-story buildings on a 0.56-acre lot, enjoys a prime location on Lakeshore Drive, directly adjacent to Clear Lake, a renowned bass fishing destination. Built in 1967 and renovated in 2015, the property features a showroom, office, retail space, tire and parts storage, and two service bays. Currently operating as Tire Pros, the tenant has a strong track record, evidenced by positive customer reviews, and recently exercised a 10-year lease option, extending the lease through August 18, 2035. This provides a secure income stream for the next 11+ years, with 3% annual rent increases. The current net operating income (NOI) is $48,650, yielding a 5.72% cap rate. The asking price is $849,995, translating to a price per square foot of $109.85. Landlord responsibilities are minimal, limited to property taxes and insurance; the tenant is responsible for property maintenance. This presents a rare sub-$1 million investment opportunity in California, offering a strong return in a desirable location with a thriving tenant. Clearlake's growing economy, supported by the presence of national retailers like Walmart and Starbucks, further enhances the property's value. The property's proximity to Northern California's wine country and other recreational attractions adds to its appeal. This is a turnkey investment with significant upside potential.

Location Insight

City

Clearlake

County

Lake

State

California

Longitude

-122.645

Latitude

38.9546

CBSA code

17340

CBSA name

CLEARLAKE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments