5 Acres of Retail Land

Description:

-- East side of Prospect Street between W Henderson Ave on north and W Grand Ave on south.
-- Five acres of vacant commercial land, flat lot, adjacent to existing retail, office and government properties. Over 400' of frontage on busy four lane street through prime commercial area. Please contact City for best use information and current/future zoning. Currently zoned for General Commercial use, with a wide list of opportunities. Porterville is a growing community with a strong upward trend positively influenced by the influx of remote employees from the Bay area and Sacramento. Excellent CRE area with SFR to north, high density residential immediately to south, ongoing new development throughout city. New casino by airport promises to bring significant visitor base to area. Among the uses contemplated by the city are: banking/financial; building materials; theaters; food & entertainment; hotels; medical; general office; retail sales; religious facilities; auto sales/leasing/service; and storage. Some applications may require a Conditional Use Permit. Established businesses in the immediate vicinity include: Target, Kohl's, Pet Smart, Ulta, Marshalls, Jamba Juice, McDonalds, Big 5, and Panera. Porterville, lying along the foothills of the Sierras at an elevation of 455 feet, is located on State Highway 65, approximately 165 miles north of Los Angeles, and 170 miles east of the Pacific Coast. Just a few miles east of historic Highway 99, about halfway between Fresno and Bakersfield, the city has a strategic location to central valley markets and a ready access to major transportation routes. Surrounded by smaller towns within a half hour drive, Porterville, California, provides for the commercial needs of its own 55,000 residents, and nearly that many more from the neighboring rural communities. Within the city, the subject property is centrally located and easily accessible from a number of residential micro-neighborhoods with "high disposable income." Nearby communities include Westfield and West Porterville, both affluent and growing enclaves.
-- Seller intends to perform an IRC §1031 tax deferred exchange. Seller requests Buyer's cooperation in said exchange. Buyer agrees to an assignment of this contract to Asset Exchange Company by the Seller. Co-Listed with Cindy Fernandez, DRE 01751151. Please contact listing agent for additional details.
Showing Remarks : Drive by, walk the lot, imagine the possibilities.

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