Retail•Free Standing Building•For Sale

Corporate Guaranteed 100 Occupied United Health Care WIC Building

901 N Blackstone Ave, Fresno, California 93701

Sale Price $695,000
Sale Type Investment
Zoning NMX Neighborhood Mixed Use
Bldg Type Single Tenant
Year Built 2008
Year Renovated 2018
Stories 1
Cap Rate 5.96%
Vacancy 100%
Gross Bldg 4,760 SqFt
Land Area .33 Acres
Net Op Inc $41,402.26
Market Central Fresno
Sub-Market Downtown Fresno Retail
100% Leased Investment Opportunity: Freestanding Corporate Guaranteed 5-year lease with 3% annual increases through May 31, 2023 on an AIR lease form. Retail services have occupied this space for various years with "United Health Centers of the San Joaquin Valley" recently inking a lease through November 2023 offering a return of 5.96%, 6.19%, and 6.43% Years 1, 2, and 3, respectively. Conservative/replaceable rents of only $0.90/SF allow future rent growth. The building just received a full remodel in 2018, and the tenant recently invested $25,000 of additional interior improvements showing their commitment to the market and location, while occupying all 4 separately metered suites within the 4,760 SF building on 0.325 Acres. The vibrant area of Central Fresno attracts various quality tenants surrounding the location bringing great synergy for UHC to flourish. Unique investment offering the tenant paying expenses direct and easy-to-rent retail space within an under-built market with a strong need for these type of spaces off Blackstone Ave. The deal offers a 1.28 DCR when leveraged with 30% down. Well known and established wide-open high exposure ±1,200 SF freestanding retail building on a corner with vehicle access in a very walk-able area (dense location). This property is located in downtown Fresno, just blocks away from where High Speed Rail will be. Newly remodeled interior, fresh exterior, and a lit front sign. The visibility offers a tremendous draw of traffic from the neighboring Fresno High school on top of the ±18,157 cars per day. Sale does NOT include businesses - they are wonderful tenants that will secure your investment. The vibrant downtown of Fresno attracts various quality tenants surrounding the location bringing great synergy for UHC to flourish. Well known and established building in a highly traveled area. Fresno's downtown zoning motivates businesses to be located (and thrive) within the downtown area through incentives and zoning allowances. Located in the most desirable area of Downtown Fresno, which encompasses about 72 square blocks of downtown, on the southwest corner of Blackstone Ave and E Englewood Ave. The property is west of N Abby St, east of N San Pablo Ave, south of E Olive Ave, and north of Hwy 180. Central location with close proximity to many restaurants, government agencies, services and many other amenities. The vibrant downtown of Fresno attracts various quality tenants surrounding the location bringing great synergy for UHC to flourish. Well known and established building in a highly traveled area. Fresno's downtown zoning motivates businesses to be located (and thrive) within the downtown area through incentives and zoning allowances.
  • Corporate Backed Lease w/ Minimal Landlord Responsibility
  • National Tenant | Occupied Over Years | Recent Remodel
  • United Health Care Guarantee w/ Big Upside in Rents At End Of Options
  • Currently in 2nd of 5th Year to May 2023 + Options
  • 4-Unit Remodel Designed Specifically For The Tenant
  • Superior Location w/ Limited Competition | Strategic Trade Area
  • Located just off HWY 180 with the Blackstone Exit
  • Over 133,000 People Living Within A Five Mile Radius Of The Property
  • Over 22,000 College Students at FCC Within A Five Minute Drive
  • Regional Bus System Provides Easy Access Within Fresno County
  • Fresno County's Dominate Metropolitan Area
  • Security-Gated Parking Lot, Recently Remodeled, Newer Construction
  • Tenant Established in 1971 w/ Over 26 Locations in Central CA
  • New HVAC’s, Gates, Floor, Lights, Quality Roof
12/18/2019 7:59:56 PM 1/20/2020 6:11:59 PM
Jared Ennis
Senior Commercial Associate
KW Commercial | Central California
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