1563 Olive AvePorterville, CA 93257

Property Details for 1563 Olive Ave

Lot size

0.36 AC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

259-070-028-000

APU

259070028000

Description

This exceptional property offers three newly renovated office suites, totaling 2,822 square feet, available for lease. Situated at the intersection of West Olive and Newcomb, this single-story building boasts a convenient location near two high schools, ample shopping, and diverse restaurants. Each of the three suites offers flexible space ranging from 857 to 1,116 square feet, suitable for various uses including traditional office, executive office, creative office, or even medical office settings. The building underwent a complete renovation in 2024, ensuring modern and updated spaces for tenants. Ample parking is provided with 22 spaces available. The property features a Multiple Tenancy structure. Tenants are responsible for electricity and internet, while a triple net (NNN) lease covers taxes, insurance, common area maintenance, water, and garbage. The lease rate is $1.50 per square foot, with $1.11 representing base rent and $0.39 covering NNN expenses. This prime location and versatile space make this an excellent opportunity for businesses seeking a convenient and well-maintained office environment. The APN is 359-070-028-000/359-070-034-000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,261,196

  6.5%

  $3,010,335

  7%

  $2,795,311

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,236,644

  Geo Method

  $7,499,051

• Alternative Use

  Use

  Valuation

  Residential

  $2,539,330

  Hospitality

  $2,326,013

  Educational

  $1,935,215

  Medical

  $2,001,770

  Retail

  $3,010,335

Location Insight

City

Porterville

County

Tulare

State

California

Latitude

36.0654

Longitude

-119.052

CBSA code

47300

CBSA name

VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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