Value Add Investment: ±11,475 SF Building in Lemoore, CA

Highlights:

• 6.22% Existing Cap & 10.88% Cap After Rent Increases
• Cash Cow To Produce $123K In Rents ($11.25/SF/Yr)
• Long-Term Tenants | Low Turnover | Low Maintenance
• Well-Known Freestanding Building w/ D Street Ave Exposure
• Convenient Location Between CA-198 and CA-41
• Busy & Established Corridor w/ Quick Access to Downtown
• Quality Construction | Well Maintained | Economical Spaces
• Ample Parking, Quality Tenants, & Great Exposure
• Requires Little Management or Maintenance
• Superior Location w/ Limited Competition | Strategic Trade Area

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 $75,600/year collected plus upside potential. After addressing the under market rents, the annual income is $123,600/year (1.6x existing rent). Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units.

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.

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