220 S Akers St - Medical FOR SALE


Visalia, CA 93291- Western Visalia
$4,575,000 USD
559-905-0025
220 S Akers St, Visalia, CA for Sale
$4,575,000 USD
Medical - FOR SALE
1/18
null | 6.46% Cap Rate

220 S Akers St
Visalia, CA 93291
Western Visalia


HIGHLIGHTS

  • Conveniently located near CA Highway 198.
  • Easy access at the Akers St. exit.

OVERVIEW

Located on the north side of W. Mineral King Ave., with 326 feet of frontage, and 43 feet east of Akers St., this property is conveniently located near CA Highway 198 with easy access at the Akers St. exit. The property is conveniently located near shopping, dining, hotels, and other office complexes. The property contains a two-story office building on 1.31+/- acres with much of the area paved to accommodate 63 parking stalls. The parking lot is surrounded by concrete curbing. Constructed in 2009, the building is fully leased under triple net leases consisting primarily of medical offices, with a staffing agency and computer programming company taking up the remaining space. The leases have terms remaining in the 16 to 56 months range, with most of the tenants having options to extend their lease through 2028 to 2042 at increased rents or rents to be negotiated at the time of extension. The office building includes 14,194 square feet, with rentable square feet identified as 12,382. Suites A, B, and C are located on the main floor, with their own separate entrance/exit doors. Suites D, E, and F are located on the second floor and accessed by a separate entrance with a stairwell and elevator. A stairwell for egress is located on the second floor at the opposite end of the hallway. The suites on the first floor contain their own bathroom facilities. Suite D has its own bathroom facilities, but also shares common bathroom facilities in the upstairs hallway with Suites E & F. The remodeling of Suite C was completed in May 2022. Suites E and F were unfinished until September 2022, with the tenant paying for many of the upgrades to the office space. Suite D was remodeled in 2023, with the tenant paying for all of the tenant improvements.

FOR SALE DETAILS

PRICE

$4,575,000 USD

PRICE/SF

$330 USD /SF

CAP RATE

6.46%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

1.31 AC

LAND SF

57,064 SF

ZONING

CH Cup

APN/PARCEL ID

085-190-008-000

ASK ABOUT THIS PROPERTY

Mark PetersonKefa Capital Inc.More Info
559-905-0025

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Mark PetersonKefa Capital Inc.More Info
559-905-0025

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.