OFFICE FOR SALE - LoopNet€¦ · Total Income $73,500 $20.94 GROSS INCOME $73,500 $20.94 EXPENSE...
Transcript of OFFICE FOR SALE - LoopNet€¦ · Total Income $73,500 $20.94 GROSS INCOME $73,500 $20.94 EXPENSE...
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
PROPERTY FEATURES±3,510 SF Leased Freestanding Building
Produces $6,125/Month In Rents | Quality Tenants
Cash-On-Cash Return of 12.80% w/ 30% Down!
Flexible Floorplan w/ Significant Improvements
Ample Parking w/ Multiple Access Points
Private Offices, Open Rooms, Multiple Entrance Points
Ethernet/Phone Connections & High Speed Internet Ready
Prime Office Space Centrally Located in Visalia
Located off Caldwell Near Mooney Blvd.
Mature Landscaping Surrounded w/ Quality Tenants
SALE PRICE: $669,000
CAP RATE: 8.28%
NOI: $55,360
CASH-ON-CASH RETURN: 10.80% W/ 30% Down
LOT SIZE: 0.31 Acres
BUILDING SIZE: 3,510 SF
YEAR BUILT: 2001
ZONING: CR
APN: 122-300-045
MARKET: Mooney/Caldwell
SUB MARKET: Heritage Plaza
CROSS STREETS: S Mooney Blvd.
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
PROPERTY OVERVIEW
±3,510 SF newer construction investment deal of General,Professional, and/or Medical Office space off Mooney andCaldwell in Heritage Plaza. Freestanding building offering 15leased offices and 1 conference room (16 rooms). Theprivate offices are oversized proving to be extremely easy tolease and the conference room is a generous size offered asa free common amenity. The property offers ample privateparking in the rear and excellent street frontage for signage.Pre-wired for high speed Internet. Street Signage isAvailable. Property offers easy street access leading fromthe three major corridors with ample private parkingavailable. Excellent investment pushing a leveragedcash-on-cash return of 12.80% with 30% down!
LOCATION OVERVIEW
Prime location just East of Mooney Blvd and North ofCaldwell Ave, one of the busiest intersections in Visalia.Within 1 mile there is approximately 2 million square feet ofretail and office space, making this the regional office andretail destination for residents in Tulare County.
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3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
LEASESTART
LEASEEND
MARKETRENT
ANNUALRENT
MONTHLYRENT
% OFBUILDING
Dustin Pest Control 3323 - 1 292 $4,200 $350 8.32
Bassett's CricketRanch
3323 - 2 292 $4,800 $400 8.32
Isabel Amancio (JDTConsultants)
3323 - 3 130 $4,200 $350 3.7
Romaine LokhandwalaLaw Group
3323 - 4 176 $5,700 $475 5.01
Com. JesponTranportation (ArnoldMoreno)
3323 - 5 232 $5,700 $475 6.61
The Ark Auto Sales(Nancy Gutierrez)
3323 - 6 169 $4,200 $350 4.81
Casey Wilson Bourke(Attorney)
3323 - 7 169 $4,500 $375 4.81
LP Brands (Elizabethand Jose LuisSanchez)
3323 - 8 169 $5,400 $450 4.81
Jose Guido (SmartwayTax)
3321 - 9 150 $5,400 $450 4.27
ClearConverse (DanielHarold)
3321 - 10 150 $5,100 $425 4.27
BW Events (BrookeWard)
3321 - 11 150 $4,800 $400 4.27
(Conference Room) 3321 - 12 204 $0 $0 5.81
Extra CaringHomecare, LLC
3321 - 13 154 $5,700 $475 4.39
Bassett's CricketRanch
3321 - 14 121 $5,100 $425 3.45
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
LEASESTART
LEASEEND
MARKETRENT
ANNUALRENT
MONTHLYRENT
% OFBUILDING
JAIEngineering(StevenCastaneda)
3321 - 15 132 $4,500 $375 3.76
Paul Eddings (EddingsAttorney Service)
3321 - 16 132 $4,200 $350 3.76
TOTALS/AVERAGES 2,822 $0 $73,500 $6,125
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
INCOME SUMMARY PER SF
Total Income $73,500 $20.94
GROSS INCOME $73,500 $20.94
EXPENSE SUMMARY PER SF
Utilities and CAM $10,128 $2.89
Insurance $976 $0.28
Taxes (Based off Asking Price) $7,035 $2.00
GROSS EXPENSES $18,139 $5.17
NET OPERATING INCOME $55,360 $15.77
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
INVESTMENT OVERVIEW
Price $669,000
Price per SF $190.60
CAP Rate 8.3%
Cash-on-Cash Return (yr 1) 12.8 %
Total Return (yr 1) $36,830
Debt Coverage Ratio 1.87
OPERATING DATA
Gross Income $73,500
Operating Expenses $18,139
Net Operating Income $55,360
FINANCING DATA ON PROPOSED 70/30 LOAN
30% Down Payment (Proposed Loan) $200,700
70% Loan Amount (Proposed Loan) $468,300
Debt Service Annualy (Proposed Loan) $29,662
Debt Service Monthly (Proposed Loan) $2,471
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
KW COMMERCIAL559.302.8698
www.CentralCaCommercial.com
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation aboutit. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
JARED ENNISSenior Commercial Associate0 559.302.8698C [email protected] DRE# #01945284
KEVIN LANDCommercial DirectorO 559.359.4035C [email protected] DRE# #01516541
* Demographic data derived from 2010 US Census
3321 S Fairway St, Visalia, CA 93277
±3,510 SF COMMERCIAL OFFICE BUILDING FOR SALE OFF OF MOONEY/CALDWELL, VISALIA
OFFICE FOR SALE
ETHNICITY 1 MILE 3 MILES 5 MILES
% HISPANIC 34.3% 40.5% 43.3%
RACE 1 MILE 3 MILES 5 MILES
% WHITE 80.6% 83.2% 81.4%
% BLACK 1.9% 1.8% 1.9%
% ASIAN 4.8% 3.7% 5.0%
% HAWAIIAN 0.0% 0.1% 0.1%
% INDIAN 0.5% 0.6% 0.7%
% OTHER 9.3% 7.0% 7.8%
POPULATION 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 10,776 74,821 127,216
MEDIAN AGE 38.0 33.5 32.1
MEDIAN AGE (MALE) 37.9 32.6 31.3
MEDIAN AGE (FEMALE) 38.8 35.0 33.7
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
TOTAL HOUSEHOLDS 3,966 26,210 42,326
# OF PERSONS PER HH 2.7 2.9 3.0
AVERAGE HH INCOME $74,991 $63,513 $67,927
AVERAGE HOUSE VALUE $299,953 $280,372 $277,669