High Exposure Retail/Office Space Located on Blackstone Ave

Highlights

Description

Owner/User or Value add investment opportunity: Freestanding building totaling ±3,480 SF on ±0.165 AC of retail or office spaces off Blackstone Ave & CA-180. Offers (4) economical ±1,000 SF separate spaces with unique addresses leased to long-term tenants on Modified Gross lease forms. Value-add opportunity with actual rents of $24,400/year collected plus upside potential. Unique investment offering where an owner/user can occupy the vacant and/or MTM units with easy-to-rent small spaces within an under-built market offering a strong need for these type of spaces. After leasing the vacancies and extending leases, the realistic 6-12 month stabilized gross annual income is $52,200 (2.14x existing rent). Once stabilized, the deal offers a 7.14% CAP rate and a 1.88 Debt Coverage Ratio when leveraged with 30% down!

The value-add opportunity consists of leasing (1) vacancies of 1,030 SF, addressing the under-market rent of the (2) MTM tenants, extending lease length over the next 6-12 months, and charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger.
Unique flexibility offering configurations ranging from ±750 – 1,030 SF with the ability to combine spaces to create larger units via existing connecting doors between the units. Clean spaces with newer paint, hard-surface flooring, LED lighting, newer HVAC units, quality roof (zero leaks), & new doors/hinges/fixtures! Access to high speed Internet, separate meters, private ADA restrooms, private entrances (w/ secured entry), outdoor LED lights during the night hours, and consists of demising walls (can be combined). Building offers a full exterior lit private rear parking, excellent existing signage, great visibility & easy access to CA-180 ramps.

±3,480 SF office/retail building located in Central Fresno offering an excellent SBA owner/user opportunity. Unit #444 of ±900 SF consists of (3) open rooms & private restroom with direct access to the rear fenced yard & parking lot. The unit offers direct access to nice restrooms, high speed internet, signage & abundant parking. The building offers ample parking in the back as well as street parking. This address IS zoned for cannabis retail (CMX), outside the Exclusion Area, and IS more than 800 feet from a sensitive use located in District 7. This property features direct access to Shaw & Blackstone Avenues bringing a total of ±49,261 Cars Per Day within .5 miles of the subject property with an additional ±225,112 Cars Per Day from nearby CA-180. Value-add investor or owner-user opportunity with easy-to-rent small office spaces within an under-built market offering a strong need for these types of spaces. Convenient location, visibility, and access located on along Blackstone Ave. Offering (4) separately metered offices with various configurations/sizes. #444 of ±900 SF & #446 of ±900 SF are currently the sellers printing company consisting of multiple offices and a reception area, currently combined but can be separated. #448 was formally a church & #450 is currently a barber shop, each of ±900 SF.. Owner currently occupies #444 & #446 and is willing to do a lease back or vacate (buyers choice). #450 barber shop has a 1-year lease.

Office building strategically located off CA-41 and N Blackstone Ave. Location is at the intersection of Belmont Ave & N Blackstone Ave. Just North of E McKenzie Ave, East of N Fulton Street, West of N Fresno Street and South of E Olive Ave. Centrally located to all major freeways and surrounded by many national retailers including Richard's Prime Rib & Seafood, Harley-Davidson, McDonalds, Carl's Jr, Community Regional Medical Center, Starbucks and many more!

Documents

Units for Lease