Retail

4248 S Mooney Blvd


4248 S Mooney Blvd
VisaliaCA 93277

4248 S Mooney Blvd

Retail: Big Box

4248 S Mooney Blvd, VisaliaCA 93277

Details

Total Size
23,820 SF
Land
1.71 Acres
Building Status
Existing
Number of Buildings
1
Number of Floors
1
Occupancy Type
Single Tenant
Percentage Leased
100
County
Tulare

Current Listings

Michael's - New 10 Year Corp Net Lease

$6,560,000
Cap Rate: 6.2%
CBRE

Michael's - SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

4248 South Mooney Boulevard, Visalia, CA 93277

Price: $6,560,000

Square Footage: 23,820 ft²

Lot Size: 1.78 acres

Cap Rate: 6.20%

Year Built: 2004

Parking Information: Reciprocal

Lease Expiration: June 30, 2029

Tenant/Lessee: Michaels (Michaels Stores, Inc.)

Increases: 10% / 5 Yrs. (Next Increase July 1, 2024)

Lease Type: NNN

Ownership: Fee Simple (Land & Building)

NOI (Year 1): $406,704 *estimated NOI after Prop 13 leakage

Traffic Counts: 32,000 VPD ​​​​​​​(S Mooney Blvd & ​​​​​​​Visalia Pkwy)

SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

Sector Leasing Operator | Dominant Brand

Michaels Stores, Inc. is the largest American arts and crafts retail chain. The company operates 1,300 stores throughout the United States and Canada. Michaels produces (10) exclusive private brands which represents over 50% of net fiscal sales, these products are only available at Michaels which allows them to differentiate their merchandise and enhance product margins.

High Credit Tenancy / Recent Long-Term Renewal

100% leased to Michaels Arts and Crafts (NASDAQ: MIK) [BB- / Ba2 (S&P / Moody's)]

North America's largest Arts & Crafts retailer on a recently extended ten (10) year Corporate Lease.

CBRE

Michael's - SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

4248 South Mooney Boulevard, Visalia, CA 93277

Price: $6,560,000

Square Footage: 23,820 ft²

Lot Size: 1.78 acres

Cap Rate: 6.20%

Year Built: 2004

Parking Information: Reciprocal

Lease Expiration: June 30, 2029

Tenant/Lessee: Michaels (Michaels Stores, Inc.)

Increases: 10% / 5 Yrs. (Next Increase July 1, 2024)

Lease Type: NNN

Ownership: Fee Simple (Land & Building)

NOI (Year 1): $406,704 *estimated NOI after Prop 13 leakage

Traffic Counts: 32,000 VPD ​​​​​​​(S Mooney Blvd & ​​​​​​​Visalia Pkwy)

SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

Sector Leasing Operator | Dominant Brand

Michaels Stores, Inc. is the largest American arts and crafts retail chain. The company operates 1,300 stores throughout the United States and Canada. Michaels produces (10) exclusive private brands which represents over 50% of net fiscal sales, these products are only available at Michaels which allows them to differentiate their merchandise and enhance product margins.

High Credit Tenancy / Recent Long-Term Renewal

100% leased to Michaels Arts and Crafts (NASDAQ: MIK) [BB- / Ba2 (S&P / Moody's)]

North America's largest Arts & Crafts retailer on a recently extended ten (10) year Corporate Lease.

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