Office Space For Lease @ 814 W Center Ave

Value-add investor or owner-user opportunity: Freestanding building totaling ±4,404 SF on ±0.307 Acres (±13,356 SF) of General, Professional, and/or Medical space off Center St in Visalia. The property offers (5) economical separate spaces with 2 units of 1,260 SF leased and 3 units of 3,144 SF available to occupy or lease. Unique investment offering easy-to-rent small office spaces within an under-built market offering a strong need for these type of spaces. Newer 5 Y/O membrane + tar roof ($40K) and 7 ice cold HVAC's (frequently serviced with McGee Refrigeration). Once stabilized, the deal offers a 8.93% cash-on-cash return when leveraged with 30% down, which produces a 1.49 Debt Coverage Ratio!

The value-add opportunity consists of leasing (3) vacancies, addressing the under-market rent of the (2) MTM tenants and extending lease length over the next 6-12 months, and charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger to provide a stabilized gross annual income of $71,340 (566% upside). #A-D various suites currently combined via connecting doors (can be separated) offering various offices, reception areas, conference rooms, and private restrooms. #G has 3 offices and a reception. #F has 4 offices and a reception. #E & H have brand new floor and paint with an open space with rear office. Units #G-H utilize 2 shared restrooms adjacent to the parking lot.

Multiple configurations ranging from 650 SF up to 1,654 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, newer flooring, and move-in ready spaces! Excellent Owner/User with Passive Income, or Investment. Each unit has access to high speed Internet, has private restrooms, private entrances, and consists of demising walls (can be combined). This space offers accomodations for: office building.