Great Owner User/Investment Opportunity
617 N Fulton St
Fresno, CA 93728
Highlights
- Owner User/Investment Opportunity | Value Add Potential
- Upside Potential: 7.83% CAP Rate & $43K In Rents
- Three Existing Long Term Tenants In Place
- (3) Spaces Totaling ±2,300 SF In The Tower District of Fresno
- Potential to Lease Out One Section For Income Potential
- Direct Fulton St Visibility | Surrounded w/ Quality Tenants
- Excellent Location, Great Tenant Mix, High Traffic Flows
- Close Proximity to Major Traffic Generators & All Fwy Ramps
- Great Access & Visibility w/ Unmatched Level of Consumer Traffic
- Well-Known Retail Strip Mall in Downtown Fulton District
- Street Frontage Provides Additional Parking
- Highly Visible Intersection w/ Ample Parking & Easy Access
- Great Visibility, Access, & Exposure | Busy Intersection
- Close Proximity to Fresno City College & CSU Fresno
- Regional Bus System Provides Easy Access Within Fresno & Clovis
Description
This owner-user/investment opportunity presents a unique blend of versatility and income potential, with three established long term tenants already occupying the space. The property offers a strategic advantage for an owner-user seeking a functional space with existing rental income streams. Investors will appreciate the stability provided by the current tenants, creating an attractive proposition for those looking to diversify their portfolio in a thriving location. Each unit offers an open floor plan with a private restroom. Unique investment offering easy-to-rent spaces on high visibility Fulton St, with easy access to major freeways.
The value-add opportunity consists of addressing the under-market rent of the (1) tenant, extending lease length over the next 6-12 months. Value-add opportunity with actual rents of $39,600/year collected plus upside potential. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $43,260. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 7.83% CAP rate and a 8.05% cash-on-cash return.
Prime location on N Fulton St & Belmont Ave servicing the Downtown Fresno markets. Located in close proximity to CA-41, CA-99 and CA-180 in the Tower District of Fresno. This area is known for its historic charm, diverse restaurants, vibrant arts and entertainment scene. Located north of Belmont Avenue, east of N Broadway Street, south of E Thomas Avenue and west of N Fulton Street. This property is situation 7.5 miles from the Fresno Yosemite International Airport & a quick 5 minute drive to the Fresno Amtrack Station. This Building is in close proximity to CA-41, CA-180/168 and CA-99 and is a tremendous draw and well supports the tenants nearby like: the 190,000 SF IRS building, TheGrand1401, Warnors Theatre, CVS, Club One Casino, Fresno County Superior Court, Fresno County Sheriff's Office, Chukchansi Park, Joe's Steak House, Tioga Sequoia Brewing Company, Fulton District and Chukchansi Triple AAA Ballpark.
