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339 W D St
Lemoore, CA 93245
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 7.20% Existing Cap & 16.34% Cap After Rent Increases
- Long-Term Tenants | Low Turnover | Low Maintenance
- Convenient Location Between CA-198 and CA-41
- Cash Cow To Produce $123K In Rents ($11.25/SF/Yr)
- Well-Known Freestanding Building w/ D Street Ave Exposure
- Busy & Established Corridor w/ Quick Access to Downtown
EXECUTIVE SUMMARY
Property Description
Leased investment opportunity: Freestanding building totaling ±11,475 SF on 0.25 Acres (11,250 SF) of office or retail space in downtown Lemoore, CA. Offers (8) economical separate spaces with restrooms leased to long-term tenants at a modified gross lease rate. The property sits comfortably in Lemoore's primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Located in a very thirsty market for retail and office spaces. Great visibility, convenient parking & easy access to CA-198 on/off ramps. Many front parking spaces available, and excellent existing signage.
The Value-add opportunity consists of addressing the under-market rents and leasing (2) vacant units over the next 6-12 months. Value-add opportunity with actual rents of $71,400/year collected plus upside potential. After addressing the under market rents, the annual income is $134,880/year. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units.
Location Description
The property located along W D Street and Fox Street in Lemoore, California, is situated in the heart of the city's vibrant downtown district. This prime location offers excellent visibility and accessibility, being just 1 mile from Highway 198 and 2 miles from Highway 41.
Lemoore is a city in Kings County, California, United States. Lemoore is located 7.5 miles (12 km) west-southwest of Hanford, at an elevation of 230 feet (70 m). It is part of the Hanford-Corcoran Metropolitan Statistical Area. The population was 24,531 at the 2010 Census. The California Department of Finance estimated that Lemoore's population was 25,892 on January 1, 2018.
Leased investment opportunity: Freestanding building totaling ±11,475 SF on 0.25 Acres (11,250 SF) of office or retail space in downtown Lemoore, CA. Offers (8) economical separate spaces with restrooms leased to long-term tenants at a modified gross lease rate. The property sits comfortably in Lemoore's primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Located in a very thirsty market for retail and office spaces. Great visibility, convenient parking & easy access to CA-198 on/off ramps. Many front parking spaces available, and excellent existing signage.
The Value-add opportunity consists of addressing the under-market rents and leasing (2) vacant units over the next 6-12 months. Value-add opportunity with actual rents of $71,400/year collected plus upside potential. After addressing the under market rents, the annual income is $134,880/year. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units.
Location Description
The property located along W D Street and Fox Street in Lemoore, California, is situated in the heart of the city's vibrant downtown district. This prime location offers excellent visibility and accessibility, being just 1 mile from Highway 198 and 2 miles from Highway 41.
Lemoore is a city in Kings County, California, United States. Lemoore is located 7.5 miles (12 km) west-southwest of Hanford, at an elevation of 230 feet (70 m). It is part of the Hanford-Corcoran Metropolitan Statistical Area. The population was 24,531 at the 2010 Census. The California Department of Finance estimated that Lemoore's population was 25,892 on January 1, 2018.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,475 SF
Building Class
C
Year Built
1950
Price
$958,356 CAD
Price Per SF
$83.52 CAD
Cap Rate
7.20%
NOI
$69,002 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
1.02
Lot Size
0.26 AC
Zoning
DMX-1 - Downtown Mixed Use
Frontage
74’ on D St
PROPERTY TAXES
| Parcel Number | 020-091-004-000 | Improvements Assessment | $490,880 CAD |
| Land Assessment | $153,400 CAD | Total Assessment | $644,280 CAD |
PROPERTY TAXES
Parcel Number
020-091-004-000
Land Assessment
$153,400 CAD
Improvements Assessment
$490,880 CAD
Total Assessment
$644,280 CAD
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