Available For Sale - Retail

6,000 SF | Show Pricing $

LISTED BY

Jared Ennis
Central CA Commercial, 559-705-1000

AVAILABILITY DETAILS

Size
6,000 SF
Price/SF
Show Pricing $
Listing ID
SA521216
Notes
Multi-Tenant Investment Opportunity: Shields & West corner retail shop spaces w/ 5 separately metered units totaling ±6,000 SF on ±0.32 AC. Offers 1 freestanding building w/ easy-to-rent units leased to long-term tenants. Property sits in dense Central Fresno, and its close proximity to major highway access is easily accessible to motorists. Value-add deal w/ actual rents of $77,871.26/year collected plus upside potential. While #1228 has the potential for future market rate adjustments, after experiencing built-in increases for (2) suites (1208 & 1216-1220), extending lease length & addressing the under-market rent of the (2) suites (1212 & 1224), the realistic 6-12 month stabilized gross annual income is $91,769.40 (18% upside). Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of spaces. Once stabilized, the deal offers an 8.29% CAP rate/return and a 1.40 CDR when leveraged w/ 30% down!



#1208 and #1216-1220 are on long term AIR commercial agreements with 3% increases per annum. #1212 and #1224 expire December of 2023, which has been experienced for similar sized beauty spaces on Shields. #1228 has a lease continuing until December 2025 with no pre-negotiated options; the current market rate of $1.30/SF/month which is only an average increase of 3% per annum from their start date.



Multiple configurations ranging from 782 SF up to 2034 SF and the ability to combine spaces to create larger units. Clean spaces with fresh paint, newer flooring, and move-in ready spaces! Excellent Owner/User with Passive Income, or Investment. Each unit has access to high speed Internet, is separately metered, has private restrooms, private entrances, and consists of demising walls (can be combined). Operational HVAC's, sealed roof, full exterior lit private parking (24 spaces plus street), excellent existing corner signage, great visibility and easy access to CA-41 and CA-99 on/off ramps. Many front parking spaces available, and excellent existing signage. All restaurant equipment in #1216-1220 is Landlord owned and transfers with the sale.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jared Ennis, Central CA Commercial
BRE# 01945284