37 Main StPorterville, CA 93257

Property Details for 37 Main St

Year built

1957

Construction

TILT-UP CONCRETE

Lot size

0.21 AC

Property size (Sq ft)

7,500 SF

Zone code

C2

Property type

Retail space

APN

261-121-001-000

APU

261121001000

Description

This 7,500 square foot commercial property located at 37 Main Street in the heart of Porterville, California, presents a compelling investment or owner-user opportunity. Built in 1957, this double retail storefront occupies a prominent position on Main Street, a vibrant downtown thoroughfare known for its architecturally significant buildings and bustling commercial activity. The property sits on a 0.22-acre lot (9,259 square feet) zoned C2. The building features a basement level in addition to the main ground floor space. Please note that the property sustained fire damage in 2013, resulting in a partially collapsed roof and damage to sections of the flooring. This requires significant renovation and presents a unique opportunity for a buyer to completely customize the space to their specific needs. The ongoing Main Street Reconstruction Project further enhances the long-term potential of this location, promising increased foot traffic and revitalized commercial activity in the area. The asking price for this property is $325,000. This is a chance to acquire a substantial commercial space in a prime downtown location with significant upside potential. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,562,974

  6.5%

  $1,442,745

  7%

  $1,339,692

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,509,734

  Geo Method

  $3,594,024

• Alternative Use

  Use

  Valuation

  Residential

  $1,217,009

  Hospitality

  $1,114,774

  Educational

  $927,479

  Medical

  $959,376

  Retail

  $1,442,745

Location Insight

City

Porterville

County

Tulare

State

California

Latitude

36.0658

Longitude

-119.017

CBSA code

47300

CBSA name

VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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