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Key Details
Sold Price $900,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID MC21263157
Sold Date 05/31/22
HOA Y/N No
Year Built 1973
Lot Size 0.970 Acres
Property Description
The subject property is a 16-unit, two-story, 8,000 square foot office building situated on approximately one acre. The property has a strong 94% occupancy rate and offers huge upside potential to develop an additional 14,000 square feet of land. Recent improvements over the past two-years include new HVAC units, flooring, lights, doors and more. Located on Mooney Boulevard (33,000 VPD) and Princeton Avenue (26,000 VPD) just south of CA-Highway 198. Neighboring Tenants include Baskin-Robbins, IHOP & Red Lobster.
7.02% Cap Rate
Net Operating Income: $64,908.22
94% Occupancy Rate
Upside development opportunity for 14,000 square feet of land
Location
State CA
County Tulare
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Building
Lot Description 0-1 Unit/Acre
Story 2
Water Public
Others
Tax ID 096301022000
Financing Conventional
Special Listing Condition Standard
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Bought with Daniel Del Real • Keller Williams Property Team
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