100% Leased Freestanding Building w/Quality Tenants

100% Leased Freestanding Building w/Quality Tenants

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Listing was updated on: 07/18/2023

1041 E Shields Ave # E, Fresno, CA 93704, USA

LocationAttractive 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).Sale100% 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 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.

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