Prime Retail Redevelopment of True Value | 14975 Olympic Dr
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Prime Retail Redevelopment of True Value 14975 Olympic Dr
8,505 SF Retail Building Clearlake, CA 95422 £1,018,290 (£120/SF)
Investment Highlights
- Large multi-parcel lot with a combined 2.0 acreage with a variety of options including multi-tenant retail, drive-thru, car wash
- Strongest retail corner across from Safeway and Grocery Outlet and a newly constructed Rite Aid Pharmacy
- Existing 8,505 square foot building will be delivered vacant
- Excellent street visibility and 595 feet of combined frontage
- Hard, signalized corner with ingress/egress access on both Olympic Drive and Old Highway 53
Executive Summary
Opportunity to acquire 2.0 acres of land in Clearlake, CA at 14975 Olympic Drive. The property is comprised of 3 parcels at the signalized, hard corner of Olympic Drive and Old Highway 53. For the past three decades, the property has been the home to Four Corners True Value Hardware in an 8,508 square foot building with additional storage and warehouse space.
The property, situated on a prime retail corner with high visibility and retail synergy, is ideally suited for redevelopment. Located across from the main grocery stores for the city, Safeway and Grocery Outlet on Olympic Drive and from a recently constructed Rite Aid on Old Highway 53. Nearby retailers benefit from limited competition and achieve strong sales.
The location would be well served with multitenant retail and drive-thru, car wash, or other commercial uses. The building could also be an owner/user opportunity in combination with redevelopment.
The property, situated on a prime retail corner with high visibility and retail synergy, is ideally suited for redevelopment. Located across from the main grocery stores for the city, Safeway and Grocery Outlet on Olympic Drive and from a recently constructed Rite Aid on Old Highway 53. Nearby retailers benefit from limited competition and achieve strong sales.
The location would be well served with multitenant retail and drive-thru, car wash, or other commercial uses. The building could also be an owner/user opportunity in combination with redevelopment.
Data Room Click Here to Access
Property Facts Under Contract
Sale Type
Investment or Owner User
Sale Condition
Development Sale
Property Type
Retail
Property Subtype
Building Size
8,505 SF
Building Class
C
Year Built
1953
Price
£1,018,290
Price Per SF
£120
Tenancy
Single
Number of Floors
1
Building FAR
0.10
Lot Size
2.00 AC
Opportunity Zone
Yes
Zoning
General Commercial - General commercial uses which are diverse and convenient.
Frontage
254 ft on Olympic Dr.
Amenities
- Signalised Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £323,107 | |
| Land Assessment | £29,521 | Total Assessment | £352,628 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£29,521
Improvements Assessment
£323,107
Total Assessment
£352,628
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Prime Retail Redevelopment of True Value | 14975 Olympic Dr
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