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711 N Court St 25,319 SF 100% Leased Office Building Visalia, CA 93291 $3,800,000 ($150.08/SF) 8.43% Cap Rate
INVESTMENT HIGHLIGHTS
- Ample parking
- Exposed brick interior and exterior
- Atrium with a lot of natural light
EXECUTIVE SUMMARY
711 N Court St is a three- story commercial/ office building, located in downtown Visalia, near shopping, dining, and public transit. The subject properties include four parcels that are all situated in the same block and are zoned C-MU by the City of Visalia as part of a commercial mixed-use zone. Visalia has two mixed use zones and together they are intended to encourage a wide variety of land uses that create vibrant, walkable environments. Parcels Two and Three are improved with a multi-tenant office building and parking lot, while Parcels One and Four are vacant and could support additional buildings. The building was renovated from the old historic Rainbow Bread factory. It features old relics that were tastefully incorporated into the renovation. A large atrium area graces the entry and lobby allowing amply light and large specimen indoor plants and trees.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
25,319 SF
Building Class
B
Year Built
1950
Price
$3,800,000
Price Per SF
$150.08
Cap Rate
8.43%
NOI
$320,340
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
8,440 SF
Building FAR
0.52
Lot Size
1.11 AC
Opportunity Zone
Yes
Zoning
C-MU - C-MU - commercial mixed-use zone
Parking
75 Spaces (2.96 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Atrium
- Controlled Access
- Courtyard
- Fenced Lot
- Security System
- Signage
- Skylights
- Wheelchair Accessible
- Reception
- Roof Terrace
- Storage Space
- Air Conditioning
- Balcony
- Smoke Detector
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Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 094-015-014-000 | Improvements Assessment | $2,765,675 |
| Land Assessment | $481,641 | Total Assessment | $3,247,316 |
PROPERTY TAXES
Parcel Number
094-015-014-000
Land Assessment
$481,641
Improvements Assessment
$2,765,675
Total Assessment
$3,247,316
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711 N Court St
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