100% Fully Leased Like-New Investment w/ Blackstone Exposure
2811 N Blackstone Ave
Fresno, CA 93703
Highlights
- Blackstone Ave Exposure & Pylon Signage Near Manchester
- 7.46% Cap & 8.51% Cash-on-Cash Return In Place
- Cash Cow To Produce $95K In Rents ($16.8/SF/Yr)
- Long-Term Tenants | Low Turnover | Low Maintenance
- Newer Quality Roof, 2021 New HVAC's, & Hard Surface Floor
- Well-Known Freestanding Building @ Corner
- Private Lit Parking Lot + Street Parking | Great Visibility
- Convenient Location Between CA-99 and CA-41
- Busy & Established Retail Corridor w/ Access to Manchester
- Close Proximity to Major Traffic Generators (Blackstone Ave)
- Great Access & Visibility w/ Unmatched Level of Consumer Traffic
- Against Newly Upgraded Shields Avenue w/ Bus Stop Access
- Nearby Manchester Center & Blackstone Retailers
- Quality Construction | Well Maintained | Economical Spaces
- Investment Opportunity: Leased Freestanding Commercial Building
- Ample Parking, Quality Tenants, & Great Exposure
- Easy Access | Separate Suites | Multiple Configurations
- Requires Little Management or Maintenance
Description
100% leased investment opportunity: Freestanding building totaling ±6,866 SF on ±0.4 Acres (±17,424 SF) of office or retail space off Blackstone Ave. Offers (9) economical separate spaces each with a private restroom leased to long-term tenants at a modified gross lease rate. (2) suites feature brand new HVAC's. Cash cow with in-place rents of $75,600/year collected plus upside potential. All tenants pay the scheduled base rent plus the actual cost of all customary "pass-through" expenses such as Trash, Water, and Electrical to eliminate these items from the Landlords ledger.
After realizing the scheduled annual increases (3%/ year) and extending leases to the market rate of $1.40/SF/month for the smaller units, the realistic 6-12 month gross annual income is scheduled to be $94,584 (25% upside). Unique investment offering easy-to-rent small office spaces in a under-built market offering a strong need for these type of spaces. The deal offers a 9.87% cash-on-cash return when leveraged with 30% down, producing a 2.01 DCR!
Unique flexibility offering configurations ranging from ±375-1,200 SF with the ability to combine spaces to create larger units via existing connecting doors between the units. Access to high speed Internet, separate meters, private ADA restrooms, full exterior lit private parking lot, excellent existing signage, great visibility & easy access to CA-41 ramps.
Well known freestanding building offering strong demographics and traffic generators. Nearby CA-41 Freeway, State Highway 99, 168 and 180 connect to all parts of central CA. On Blackstone Ave, just north of E Princeton Ave, west of CA-41, & south of E Shields Ave in Fresno, CA. Provides easy access to the newly renovated 1.1 million SF Manchester Center and various Blackstone Ave retail amenities. Professional manicured grounds and surrounded by lush landscaping with ample private parking. Close access to FAX bus stop (preferred Route 1 - Q Rapid Transit BRT with 31 drops every 14 minutes).
3/4 mile from (2) CA-41 on/off-ramps: Shields/41 to the north, and McKinley/41 to the south. Surrounding national tenants are In-n-Out, McDonalds, Regal Cinemas 16, Footlocker, El Pollo Loco, T-Mobile, Cricket, Panda Express, Starbucks, Grocery Outlet, Von’s, Pep Boys, O’Reilly Auto Parts, Hometown Buffet, Denny’s, Quizno’s, Dollar Tree, Planet Fitness, Subway, & Grifols.
