2104 Riggin AveVisalia, CA 93291

Property Details for 2104 Riggin Ave

Year built

2013

Construction

WOOD

Lot size

2.18 AC

Property size (Sq ft)

7,890 SF

Zone code

CSO

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

078-350-042-000

APU

78350042000

Description

This exceptional Class A retail investment opportunity presents a 9,601 square foot property situated on a 2.18-acre lot in Visalia, California. The property, located at 2104 W Riggin Ave (APN 078-350-042), is zoned C-MU and features a Valero gas station, a convenience store, and a quick-service restaurant (QSR). The asking price is $12,250,000, translating to $1,275.91 per square foot. The property boasts long-term NNN leases in place with both local and nationally recognized tenants, providing a stable and substantial income stream. Recent improvements include a newly updated car wash and renewed leases with QSR tenants. The property benefits from its location in a rapidly developing area of Visalia, offering significant potential for future appreciation. This is an ideal opportunity for an owner-user seeking long-term supplemental income from existing NNN leases. Further financial details are available upon request. The property's strong tenant base, recent upgrades, and prime location make it a compelling investment prospect. This turnkey operation offers a rare chance to acquire a high-performing retail asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,644,248

  6.5%

  $1,517,768

  7%

  $1,409,356

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,640,241

  Geo Method

  $3,780,913

• Alternative Use

  Use

  Valuation

  Residential

  $1,280,294

  Hospitality

  $1,172,742

  Educational

  $975,708

  Medical

  $1,009,264

  Retail

  $1,517,768

Location Insight

City

Visalia

County

Tulare

State

California

Latitude

36.357

Longitude

-119.315

CBSA code

47300

CBSA name

VISALIA-PORTERVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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