For Sale
$690,000

10953 14Th Ave Armona, CA 93202

High-yield office building, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a single-story, 2,998 square foot free-standing office building located at 10953 14th Ave, Armona, CA 93202. The property sits on a 0.48-acre lot and boasts 25 parking spaces. Currently leased under a gross lease with a single tenant at 100% occupancy, this building offers a strong 7.10% capitalization rate with a Net Operating Income (NOI) of $49,000. The asking price is $690,000, translating to $230.15 per square foot. A new 3.5-year lease is in place, and the tenant is planning significant upgrades to the property. The property includes rent bumps, and lease options are available. This is a prime investment opportunity in the heart of Armona, Kings County, California. The APN is 017-080-001. This is a for-sale-by-owner listing.

Highlights

  • $690,000 asking price for a 2,998 sq ft office building.
  • 7.10% cap rate with a $49,000 NOI.
  • 100% occupancy with a new 3.5-year lease.
  • Located in Armona, CA, at 10953 14th Ave, on a 0.48-acre lot with 25 parking spaces.
  • Gross lease with rent bumps and broker co-op participation.

Property Details for 10953 14Th Ave

Property type
Office properties
Square Feet
2,998 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
20,909 SF
Units
1

Location Insight

City
Armona
County
Kings
State
California
Latitude
36.314411
Longitude
-119.708801

FAQs

What type of property is this?
Office property - High-yield office building, 100% occupied.
Where is the office property located?
The property is located at 10953 14Th Ave Armona, CA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: $690,000 asking price for a 2,998 sq ft office building.; 7.10% cap rate with a $49,000 NOI.; 100% occupancy with a new 3.5-year lease.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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10953 14Th Ave
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