1150 West Henderson Avenue, Porterville, CA 93257
CAP Rate: 7.25%
Net Operating Income: $104,211
Market: San Joaquin Valley
The subject offering is a net leased Fast Auto Loan in Porterville, California. The tenant recently signed an 8 year net lease, with the net lease calling for minimal landlord obligations. The tenant has 2% annual increases in rent and two 5 year options to renew. The subject property is well situated on West Henderson Avenue just off of Highway 65 and is surrounded by major retailers including Walmart, OfficeMax, Target, Kohl’s, and Food For Less. In the event a governmental agency makes it illegal for Tenant to operate its business, Tenant may terminate the lease subject to the terms and conditions set forth in the lease.
Porterville is a city in the San Joaquin Valley, in Tulare County, California. It is part of the Visalia-Porterville metropolitan statistical area.
Since its incorporation in 1902, the city’s population has grown dramatically as it annexed nearby unincorporated areas. The city’s July 2014 population (not including East Porterville) was estimated at 55,466.