2261 Lungren Court - Development Land Off HWY-99 with 63,000+ VPD
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2261 Lungren Court - Development Land Off HWY-99 with 63,000+ VPD
2.08 Acres of Commercial Land Offered at $874,530 CAD in Kingsburg, CA 93631
Investment Highlights
- Highly Visible Potential Development Site along CA-99 in Kingsburg, CA
- High Traffic and Visibility with over 63,000 Cars Per Day on Hwy-99
- Originally Planned for Hotel Use
- Over 2 AC of CH Highway Commercial Land with Many Potential Uses Including: Casual Dining, Drive Thru, Hotel, Car Wash, Retail
- The City of Kingsburg has Numerous Incentives for New Development, Including Reduced Fees, Tax Rebates, and Expedited Approvals
Executive Summary
Ovaness-Rostamian Group of Marcus & Millichap has been chosen to exclusively market for sale a highly visible potential development site along California State Route 99 in Kingsburg, California. The opportunity comprises of 2 acres, or just over 90,000 square feet. The land is zoned CH Highway Commercial which allows for your next casual dining spot, drive through, hotel, car wash or any other number of large format businesses with a view from CA Highway 99. With over 63,000 average daily drivers, Kingsburg is just 20 mins south of the city of Fresno and halfway between Sacramento and Los Angeles. Known as the Gem of the Valley, it is home to the Swedish Coffee Pot Water Tower and Public Park, and the World’s Largest Box of Raisins.
NEW DEVELOPMENT INCENTIVES
The City of Kingsburg currently has five incentives for new development:
• 25% Reduction in the City’s Capital Facilities Fees
• 50% Rebate of the City’s Portion of Real Estate Property Taxes for Three Years
• 50% Rebate of the City’s Portion of Sales Taxes for Three Years
• 21 Day Administrative Approval for Permitting
• A Reduction or Elimination of City Fees Under Certain Criteria
NEW DEVELOPMENT INCENTIVES
The City of Kingsburg currently has five incentives for new development:
• 25% Reduction in the City’s Capital Facilities Fees
• 50% Rebate of the City’s Portion of Real Estate Property Taxes for Three Years
• 50% Rebate of the City’s Portion of Sales Taxes for Three Years
• 21 Day Administrative Approval for Permitting
• A Reduction or Elimination of City Fees Under Certain Criteria
Property Facts
| Price | $874,530 CAD | Property Type | Land |
| Sale Type | Investment or Owner User | Property Subtype | Commercial |
| Sale Conditions | 1031 Exchange | Total Lot Size | 2.08 AC |
| No. Lots | 1 |
| Price | $874,530 CAD |
| Sale Type | Investment or Owner User |
| Sale Conditions | 1031 Exchange |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 2.08 AC |
1 Lot Available
Lot 394-042-05
| Price | $874,530 CAD | Lot Size | 2.08 AC |
| Price Per AC | $420,451 CAD |
| Price | $874,530 CAD |
| Price Per AC | $420,451 CAD |
| Lot Size | 2.08 AC |
90,604 SF Zoned CH Right Off Highway-99 with over 63,000 VPD - Variety of Uses - Originally Planned for Hotel - The City of Kingsburg has Numerous Incentives for New Development, Including Reduced Fees, Tax Rebates, and Expedited Approvals
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PROPERTY TAXES
| Parcel Number | 394-042-05 | Improvements Assessment | $0 CAD |
| Land Assessment | $1,019,640 CAD | Total Assessment | $1,019,640 CAD |
PROPERTY TAXES
Parcel Number
394-042-05
Land Assessment
$1,019,640 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,019,640 CAD
zoning
| Zoning Code | CH (Commercial) |
| CH (Commercial) |
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2261 Lungren Court - Development Land Off HWY-99 with 63,000+ VPD
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