339 W D St - Storefront FOR SALE


Lemoore, CA 93245
$695,000 USD
559-705-1000
339 W D St, Lemoore, CA for Sale
$695,000 USD
Storefront - FOR SALE
1/54
null | 7.2% Cap Rate

339 W D St
Lemoore, CA 93245


HIGHLIGHTS

  • 7.20% Existing Cap & 16.34% 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$695,000 USD

PRICE/SF

$82 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,252 SF

ZONING

DMX-1

APN/PARCEL ID

020-091-004-000

ASK ABOUT THIS PROPERTY

Jared EnnisCentral CA CommercialMore Info
559-705-1000

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Jared EnnisCentral CA CommercialMore Info
559-705-1000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.