Investment Overview

This sale offers the opportunity to purchase a single-tenant, freestanding, net-leased property occupied by the United States Postal Service. The “Millenium Retail Store” is situated in a desirable location and offers a dependable, low-management investment with attractive underlying value. The subject property, located at 100 North Akers Street in Visalia, California, has been occupied by USPS since it was constructed in 2001. The original lease term was for 20 years with four 5-yr options. The lease is currently in the first option period, with approximately 3.5 years of lease term remaining. At the beginning of the option period, rent was set at fair market value, providing a new owner with a replaceable rent and a desirable underlying property value. The lease is double net in structure, offering a low-management ownership situation: Lessor is responsible for maintenance of the building and property insurance, and the Lessee is responsible for property taxes, association dues and utility payments. The attributes of the site provide a functional property for the post office as well as other uses: reasonably sized building (6,720 SF) with a loading platform, large parking lot with approximately 44 surface stalls, high-visibility site, clean association atmosphere, attractive building, upscale neighbors, growing trade area, etc. This USPS site, known as The Millenium Retail Store, is the #1 post office in the city of Visalia, is in the top 7% of Tulare County and is in the top 25% in the state of California. 100 North Akers Street offers the opportunity to purchase a net-leased, low-management property occupied by the United States Postal Service. The investment has attributes that provide for dependability and attractive underlying value, and is ideal for passive investors.