Prime Residential Development Land in Growing Visalia Area

Listing was updated at: 08/09/2020
Property Overview
Price/Rent PSF $ 7,645,000.00
Asset Type Land
Trade Type Sale
Acres Available 68.75
Date Available 06/19/2020
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Property is located off the Northeast quadrant of S Shirk Rd and W Walnut Ave just south of CA-198, east of CA-99, west of Mooney Blvd, and north of Caldwell Ave. When heading north on Freeway 99, take the Caldwell Ave turn off heading east, and north on the next street called Road 29 (S Shirk Rd). Site is located approximately 1/2 of a mile north on the right, just as you approach the prestigious Oak Meadow development. Access to the property is via Shirk Avenue, and east neighborhood streets Jauques, S Roeben St, W Evergreen Ct, and W Whitendale Ave.

Residential building by the production builders has been very active in this area, and other than a few small projects there are no other active lot subdivisions, for sale, or that are in a dense location ready to build on. A survey of homes that have sold in the last 12 months have shown a $20 PSF increase, showing the last home sales reaching $145 PSF.

Prime residential development land totaling ±68.75 Acres ( ±2,994,750 SF) adjacent to the exclusive Oak Meadow housing Development. While the land is a blank and clean canvas for flexible concepts, studies have shown ample room for 345+ SFR homes with lot sizes of 5,000 - 6,000 SF (50' or wider). Site is also ideal for higher end semi-custom homes, mixed use development with apartments/condos, or various variations of single family residences. The property is level, and has already had some development work done on the property several years ago. Road ways leading to the property from neighboring developments are in place and all utilities nearby. 15" sewer main is located on the west side and the nearest water mains to serve the proposed project are a 14-inch main located on W Whitendale Avenue and a 8-inch main located on S Shirk Avenue.