101-111 west main street | Downtown Visalia

Multi-Unit Commercial Asset | Retail & Creative Studio Suites

Offering Price: $3,000,000

Total Building Size: 14,244± SF

Total Units: 20 Units (5 Ground Floor Retail + 15 Second Floor Studios)

Parking: 15 Dedicated Private On-Site Spaces

Investment Overview

Positioned perfectly at the high-traffic, "Main & Main" intersection of Main Street and Court Street, 101–111 W. Main Street is a historic 1920 mixed-use landmark that offers a masterfully balanced combination of stable in-place cash flow and aggressive value-add potential.

Designed for both seasoned portfolio investors and private buyers looking for a legacy asset, this 20-unit building features 100% occupied ground-floor retail paired with an adaptable second-floor studio layout positioned for rapid revenue expansion.

Acquire a piece of Visalia’s history while capitalizing on modern commercial demand. This asset represents a premier, risk-adjusted opportunity to anchor your capital in the city's finest commercial grid.

The Core Strengths

Trophy Location & High-Velocity Market Drivers: Located at the epicenter of Visalia's vibrant downtown district, this iconic corner captures unparalleled daily foot traffic and unmatched visibility. Visalia ranks No. 27 nationally for midsize metro retail establishment growth, making this a highly resilient micro-market insulated by exceptional local demand.

The Private Parking Premium: In a thriving downtown district where parking is highly constrained, the asset includes 15 dedicated, private on-site parking spaces. This single amenity acts as a massive competitive advantage, drastically reducing tenant friction and driving superior commercial retention.

Diversified & Stable Ground-Floor Yield: The ground floor consists of 5 fully leased retail units generating immediate, dependable monthly income. The asset is anchored by long-term local favorites and stable commercial entities, including Cellar Door, Wimpy’s Hamburgers, Root Marketing/Lifestyle Magazine, Last Wave Tattoo, and Raphael's Jewelry.

Immediate Value-Add & Pro-Forma Strategy

The core investment thesis of this property lies in the immediate operational upside of the second floor. Consisting of 15 flexible, second-floor studio suites (currently 7 leased, 8 vacant), this component commands an impressive average premium of $3.75 per square foot due to the high local demand for smaller, affordable micro-spaces.

Two Distinct Paths to Rapid Appreciation:

Lease-Up Capitalization: Capitalizing on the remaining 8 vacant creative studios pushes the property from a gross annual income of $221,412 to a fully stabilized pro-forma gross annual income of $293,412.

Operational Restructuring: The asset is currently operated under a Gross Lease structure, where the landlord absorbs ~32% in operational expenses. A future owner has the immediate opportunity to transition tenants to a Triple Net (NNN) or Modified Gross structure. Implementing a Common Area Maintenance (CAM) reimbursement program for taxes, insurance, and utilities will systematically protect Net Operating Income (NOI) and drive immediate asset valuation growth.

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