Available For Sale - Office

5,985 SF | Show Pricing $

LISTED BY

Jared Ennis
Central CA Commercial, 559-705-1000

AVAILABILITY DETAILS

Size
5,985 SF
Price/SF
Show Pricing $
Listing ID
SA517009
Notes
100% leased investment opportunity: Freestanding building totaling ±5,985 SF on ±0.17 Acres (±7,200 SF) of General Retail, Professional Office, and/or mixed use spaces at the corner of High and First Streets. Offers (6) economical ±997 SF separate spaces with unique addresses leased to long-term tenants on Modified Gross lease forms. Each unit features its own entrance and signage, open front areas, and private ADA restrooms. Cash cow with in-place rents of $69,708/year collected plus upside potential. All tenants pay the scheduled base rent plus the actual cost of all customary "pass-through" expenses such as Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger.



After adjusting the rents to 90% of market rates ($1.35/SF) and extending leases, the realistic 6-12 month gross annual income is scheduled to be $81,745 (117% upside). Unique investment offering easy-to-rent small office spaces in a under-built market offering a strong need for these type of spaces. The deal offers a 11.3% cash-on-cash return when leveraged with 30% down, producing a 1.63 DCR!



Multiple configurations ranging from 610 SF up to 950 SF with the ability to combine spaces to create larger units. Clean spaces with newer paint, newer flooring, and move-in ready spaces! Each unit has access to high speed Internet, is separately metered, has private restrooms, private entrances, and consists of demising walls (can be combined). HVAC's and roof are said to be in good condition, full exterior lit parking (15 spaces @ street), excellent existing corner signage, great visibility and easy access to CA-99 on/off ramps.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jared Ennis, Central CA Commercial
BRE# 01945284