Industrial•Flex Space•For Sale
Value Add Investment 3 Freestanding Buildings + Development Land
1570-1580 Menlo Ave, Clovis, California 93611
±14,850 SF commercial service multi-tenant complex on 1.07 Acres (46,609 SF) in Clovis, CA. Total of (3) freestanding buildings (w/ room for a 4th) offering (6) economical separately metered spaces leased to long-term tenants on AIR Industrial Gross leases. Value-add opportunity with actual rents of $90,840/year collected plus upside potential. The realistic 6-12 month stabilized gross annual income is $117,312. Unique investment offering easy-to-rent warehouse spaces within an under-built market offering a strong need for these type of spaces. Once stabilized, the deal offers TEEN cash-on-cash returns when leveraged. Great visibility, convenient parking & easy access to CA-168 on/off ramps. Many front parking spaces available and excellent existing corner signage.
Multiple configurations ranging from 1,250 SF up to 3,700 SF with contiguous potential of 4,950 SF per building. Setup to have a office/showroom, shop, and fenced yard. Equipped w/ ample power, roll up doors, restrooms, sky lights, air vents, evap coolers, heaters, security, separate meters, and have the ability to be combined.
(2) tenants are at market rents w/ leases for another year. The value-add opportunity consists of increasing rent and extending lease length over the next 6-12 months on (4) MTM units of 10,525 SF. Proposed market rates are $0.65/SF for the larger units and $0.70/SF for the smaller units on a modified gross basis providing an upside of 29% in overall cash-flow. Further opportunity consist of passing along the water/trash cost as per market standards resulting in an additional $4,800 in annual expense reduction.
Various Lease opportunities: ± 1960-3600 SF within a commercial service multi-tenant complex on 1.83 Acres (79,606 SF) between Fresno and Merced in Madera, CA. Offering a variety of move in ready warehouse spaces within an under-built market on reasonable lease terms. Great visibility, convenient parking & easy access to CA-99 on/off ramps. Many front parking spaces available and excellent existing corner signage. Suites offer multiple configurations and are setup to have a office/showroom, shop, and fenced yard area. Spaces equipped w/ ample power, roll up doors, restrooms, sky lights, air vents, evap coolers, heaters, security, separate meters, and have the ability to be combined.
This property is located just east of Sunnyside Ave, south of Herndon Ave, north of Tollhouse Rd, and west of Fowler Ave. It is situated in the middle of the industrial park of Clovis, Ca. Located in the northeast quadrant of the Fresno-Clovis Metropolitan Area, Clovis is situated in the midst of the agriculturally rich San Joaquin Valley. Since its incorporation in 1912, Clovis has been the “Gateway to the Sierra.”
Clovis is dedicated to promoting planned growth while retaining its unique western atmosphere, the City’s population has more than doubled since 1985, reaching the current level of close to 114,000, and encompassing over 23 square miles in area. Clovis has a long history as a western town known for its slogan, "Clovis – A Way of Life". Since 1914, the Clovis Rodeo has been held on the last weekend in April, with a parade on Saturday morning, followed by the rodeo that afternoon and all-day Sunday. Also contributing to the "Clovis way of life" are a number of street festivals, including Big Hat Days, Clovis Fest, and the weekly Friday Night Farmer's Market held between mid-May and mid-September every year. This community pride, combined with Clovis’ unique growth opportunities, continues to attract new residents, developers, businesses, and industries to the City. Property serves all surrounding communities including Fresno, Chowchilla, Ahwahnee, Bass Lake, Bonadelle Ranchos-Madera Ranchos, Coarsegold, Fairmead, La Vina, Madera Acres, Nipinnawasee, Oakhurst, Parksdale, Parkwood, Rolling Hills, and Yosemite Lakes.
- TEEN Cash-on-Cash Returns After Stabilized
- Investment Opportunity: Leased Industrial Buildings
- Long-Term Tenants | Low Turnover | Low Maintenance
- ±14,850 SF On ±1.07 Acres w/ Ample Yard Area
- Cash Cow To Produce $89,404 In Rents
- Metal Construction - Well Maintained Buildings
- Long Term Tenants w/ Upside Potential Via Leasing
- Easy Access from Surrounding Major Corridors
- Functional Warehouse Spaces
- Requires Little Management or Maintenance (Metal Buildings)
- Easy Access to Highway 168 On/Off Ramps
- Excellent Existing Signage On 3 City Street Corners
- Shop with Roll Up Doors + Fully Improved Yard Area
- Ample Parking, Quality Tenants, & Great Exposure
- Building Equipped w/ Evaporative Coolers & Heaters
- Median HH income of $63,662/year.
- ±1960-3600 SF Available: 4 Units with Multiple Configurations
- Large Complex On ±1.83 Acres w/ Ample Yard Area
- Well Maintained Buildings | Functional Warehouse Spaces
- Easy Access to Highway 99 On/Off Ramps
- Shop with Roll Up Doors + Yard Area
- Flexible Zoning That Allows Many Uses - Large Parking Area
- Great Signage & Exposure
- Frontage on North "E" Street
2/5/2020 2:02:46 PM
2/26/2020 3:10:03 AM