$900,000
$925,000
2.7%For more information regarding the value of a property, please contact us for a free consultation.
0.97 Acres Lot
SOLD DATE : 05/31/2022
Key Details
Sold Price $900,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID MC21263157
Sold Date 05/31/22
HOA Y/N No
Year Built 1973
Lot Size 0.970 Acres
Property Description
The subject property is a 16-unit, two-story, 8,000 square foot office building situated on approximately one acre. The property has a strong 94% occupancy rate and offers huge upside potential to develop an additional 14,000 square feet of land. Recent improvements over the past two-years include new HVAC units, flooring, lights, doors and more. Located on Mooney Boulevard (33,000 VPD) and Princeton Avenue (26,000 VPD) just south of CA-Highway 198. Neighboring Tenants include Baskin-Robbins, IHOP & Red Lobster.
7.02% Cap Rate
Net Operating Income: $64,908.22
94% Occupancy Rate
Upside development opportunity for 14,000 square feet of land
Location
State CA
County Tulare
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Building
Lot Description 0-1 Unit/Acre
Story 2
Water Public
Others
Tax ID 096301022000
Financing Conventional
Special Listing Condition Standard
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Bought with Daniel Del Real • Keller Williams Property Team