High Exposure Freestanding Building in Downtown Porterville

Located in the most desirable area of Downtown Porterville, on Cleveland Avenue. Central location surrounded with close proximity to many restaurants, services and many other amenities. Nearby quality tenants include the South County Justice Center Courthouse, Bank of Sierra Corporate Offices, City of Porterville Hall, Porterville Recorder Newspaper, CA DMV, Proteus, Bank of America, Beneficial State Bank, United Staffing, and many more. Its prime location in the bustling city center ensures not only high visibility but also easy access for both pedestrians and local shoppers. Surrounded by a dynamic blend of shops, restaurants, and cultural attractions, this retail space is strategically positioned to thrive in the energetic atmosphere of downtown Porterville, making it an ideal destination for businesses seeking a central and dynamic location.Suite H 75’ x 34’ Wide open space Accessed by three separate entrance doors with a rear storage room, 3 restrooms, and a rear private office 100% Leased Investment Opportunity: ±3,264 SF freestanding building on ±0.26 Acres (±11,514 SF) of General, Professional, and/or Medical space off Blackstone on Shields Ave. Offers (5) economical separately metered spaces leased to long-term tenants on AIR lease forms. Value-add opportunity with actual rents of $34,974.31/year collected plus upside through rent increases. After Suite #A and #B’s under-market rates are addressed and the built-in rental increases are experienced, the realistic 12-18 month stabilized gross annual income is $40,260 (15.12% upside). Unique investment offering easy-to-rent small office spaces within an under-built market (replacement value of $546K) with a strong need for these type of spaces. Once stabilized, the deal offers a 11.75% cash-on-cash return when leveraged with 30% down (1.76 DCR). Features a functional floor plan that each tenant has made substantial tenant improvements to. Multiple configurations ranging from 493 SF up to 816 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, new hard-surface flooring, and move-in ready spaces! Each unit has access to high speed Internet, separate meters, access to clean restrooms, private entrances (w/ secured entry gate), 20+ outdoor LED lights during the night hours, and consists of demising walls (can be combined). Brand new asphalt slurry coat, HVAC's and roof are less than 10 years old, full LED exterior lit private parking (plus street), excellent corner signage, great visibility and easy access to CA-41 and CA-99 on/off ramps.Prime ±1,740 SF retail shop space in Downtown Porterville with existing sinks from a previous turn-key beauty salon. The space is located directly under the new County of Tulare District Attorney and Public Defender offices. Well-located in Porterville’s busiest retail destination corridor - Main & Olive - historically, serving the vast majority of Porterville’s residents. The property sits comfortably in Porterville’s primary retail corridor, and with its close proximity to a major highway access is easily accessible to motorists. Daytime population of nearly ±43,236 people within 2 miles of the subject property and located in close proximity to the new ±96,000 SF Porterville Courthouse.