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Freestanding Value Add Owner/User or Investor Opportunity @ Chinatown

Property Overview

Price/Rent PSF $ 1,688,888.00
Asset Type Hospitality
Trade Type Sale
SQ. FT. Available Inquire
Date Available 04/01/2022
Additional URL Link
Floors 2
Building size 15325
Search Demographic Data LandCheck Explore financing options
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Description

Location
Located on F Street in Fresno's historic Chinatown District directly across the street from the entrance to the Fresno High Speed Rail Station. The building is on the corner of Fresno Street and Mariposa Street. The property is located North of Tulare Street, South of Tuolumne Street, West of "G" Street and East of "E" Street. 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 near by like: the ±190,000 SF IRS building, The Grand 1401, Warnors Theatre, CVS, Club One Casino, Fresno County Superior Court, Fresno County Sheriff's Office, Chuckchansi Park, Joe's Steak House, Tioga Sequoia Brewing Company, Within walking distance to the Fulton Mall and Chukchansi Triple AAA Ballpark.




Sale
Value-add Opportunity: ±15,325 SF Freestanding building on ±0.258 acres within Chinatown - adjacent to the CA High Speed Rail - in Downtown Fresno. Former Basque Hotel offering an existing bar, restaurant, large kitchen and multiple dining rooms on the first floor, (28) hotel rooms on the second floor and a large handball court with viewing gallery. The Basque Hotel was built in 1932 near the Central Pacific Railroad and designed by Master Architect Eugene Mathewson. The property is located in Historic Downtown China and sits directly across from the main Central CA High Speed Rail Station. The first floor is ideal for a restaurant, bar, nightclub or brewery with the second floor being utilized as a hotel, AirBNB, apartments, and/or private office suites. Downtown Fresno and Chinatown are slated to receive $70M in cap trade redevelopment funding intended to jump start the revitalization of the area ahead of the high speed rail construction. Multiple projects are currently under consideration for funding including a $20M mixed use development featuring housing and retail directly adjacent to the subject property.


Unique investment offering potential to convert the upstairs into easy-to-rent office/retail spaces or apartments 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-99 and CA-180 on/off ramps. Many front parking spaces available, private access to the 2nd floor, and excellent existing corner signage. Convenient location, visibility, and access.

Location (Click here to view the location on the map.)
The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.

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