Office•Office Building•For Sale
100 Leased Freestanding Building w Quality Tenants
1041 E Shields Ave, Fresno, California 93704
100% Leased Investment Opportunity: ±3,264 SF freestanding building on ±0.26 Acres (±11,514 SF) of General, Professional, and/or Medical space off Blackstone on Shields Ave. Offers (5) economical separately metered spaces leased to long-term tenants on AIR lease forms. Value-add opportunity with actual rents of $34,974.31/year collected plus upside through rent increases. After Suite #A and #B’s under-market rates are addressed and the built-in rental increases are experienced, the realistic 12-18 month stabilized gross annual income is $40,260 (15.12% upside). Unique investment offering easy-to-rent small office spaces within an under-built market (replacement value of $546K) with a strong need for these type of spaces. Once stabilized, the deal offers a 11.75% cash-on-cash return when leveraged with 30% down (1.76 DCR).
Features a functional floor plan that each tenant has made substantial tenant improvements to. Multiple configurations ranging from 493 SF up to 816 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, new hard-surface flooring, and move-in ready spaces! Each unit has access to high speed Internet, separate meters, access to clean restrooms, private entrances (w/ secured entry gate), 20+ outdoor LED lights during the night hours, and consists of demising walls (can be combined). Brand new asphalt slurry coat, HVAC's and roof are less than 10 years old, full LED exterior lit private parking (plus street), excellent corner signage, great visibility and easy access to CA-41 and CA-99 on/off ramps.
Suite #C of ±493 SF and Suite #E of 520 SF offers clean office space in excellent condition and is move-in ready. Spaces feature a large open front waiting/reception/meeting room, and (1) large rear private office (Suite #E also has a side office). Easy access to abundant parking in the rear, spacious men and womans restrooms, and direct signage/exposure to the newly upgraded Shields Avenue. Building features ample private parking, security fencing, 20+ outdoor LED lights during the night hours, and is directly in front of a Fresno Area Express bus stop (Route 41).
Attractive building perfectly positioned to offer easy access, strong demographics and traffic generators. Nearby CA-41 Freeway, State Highway 99, 168 and 180 connect to all parts of central California. On the North side of Shields Avenue, just west of Blackstone Avenue, east of Maroa Avenue, and south of Andrews Avenue in Fresno, CA. Location provides easy access to the newly renovated 1.1 million sq. ft. Manchester Center and various Blackstone Ave retail amenities. Professional manicured grounds and surrounded by lush landscaping with ample private parking. Directly in front of a Fresno Area Express bus stop (Route 41).
- Long Term Tenants In Place With Existing Occupancy.
- 1 Block off Blackstone Ave, North of Shields Ave
- Investment Opportunity: Leased Freestanding Office Building
- 100% Leased w/ Long-Term Leases Through 2022
- Easy Lease-able Units w/ Low Vacancy Turnover
- Newer Roof, HVAC's, Asphalt, Hard Surface Floor, & Paint!
- Well-Known Freestanding Office Building @ Entrance
- Private Offices, Conference Room, Reception Areas
- 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
- Economical Space Available | Fresh Paint & Flooring
- Suite #C: 493 SF & Suite #E: 520 SF
- Economical Space Available - Move-In Ready
- Quality Mens/Womans Restrooms
- Move-In Ready: Fresh Paint & Carpet
- Well-Known Freestanding Office Building
- Private Office, Open Room/Large Bullpen
- Private Parking Lot + Street Parking
- Excellent Shields Presence Surrounded with Quality Tenants
- Against Newly Upgraded Shields Avenue
9/5/2019 8:37:36 PM
1/20/2020 4:39:22 PM