2908 Mooney BlvdVisalia, CA 93277

Property Details for 2908 Mooney Blvd

Year built

1978

Property size (Sq ft)

11,015 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 11,015-square-foot, four-unit retail center in Visalia, California, presents a compelling investment opportunity. Located at 2908 S Mooney Blvd, this single-story building, constructed in 1978 and extensively renovated in 2016, boasts 100% occupancy with a strong tenant roster. The property features a fee simple ownership structure and is offered at $5,632,000, representing a 7.00% cap rate and a pro-forma cap rate of 7.10%. The Net Operating Income (NOI) is $394,036, with a pro-forma NOI of $400,150. Leases are NNN, with built-in rental increases of 3% annually and 10% every five years, ensuring consistent cash flow growth. The property sits on a 48,787-square-foot lot and benefits from over 150 feet of frontage on Mooney Boulevard, a high-traffic area with 28,000 cars per day. The strong demographics of the area, with over 131,000 people within a 5-mile radius and average household incomes exceeding $91,000, further enhance the investment potential. The majority of tenants (86%) have occupied the space since the 2016 renovation, demonstrating exceptional tenant retention and commitment. This turnkey investment offers a blend of strong current performance and significant future growth potential. The APN is 122-320-077-000. The property is suitable for a 1031 exchange.

Location Insight

City

Visalia

County

Tulare

State

California

Latitude

36.3049

Longitude

-119.313

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