High Exposure Retail Shop Space in Downtown Porterville

Located in the center of Downtown Porterville off Main Street & Mill Ave. Strategically located in close proximity to the new County of Tulare District Attorney and Public Defender offices, and the 96K SF Porterville Courthouse, serving all of Porterville and surrounding communities of Strathmore, Lindsay, Ducor, Terra Bella, Richgrove, Springville, Woodville and the Tule River Indian Reservation. Property situated at the Southeast corner on Main St & Mill Ave. The property is located North of Oak Ave, South of Mill Ave, East of Main St and West of 2nd Street.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 ±2,062 SF retail shop space in Downtown Porterville with existing water/drain improvements (formerly Spoon's Frozen Yogurt) and existing equipment included (2 freezers, 3 piece sink, prep table, POS counter/system, chairs/booths). 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 ±15,000 people within 2 miles of the subject property and located in close proximity to the new ±96,000 SF Porterville Courthouse.