Description

We are offering NEC of Belmont Ave & N First St in Fresno, California, for sale at $110,000. The property is approximately 0.05 acres (about 2,178 square feet) of fully paved corner land parcel with a leased billboard. That works out to about $2,200,000 per acre. The site is zoned NMX - Neighborhood Mixed Use and carries Assessor's Parcel Number 454-261-16.

Outfront Media has leased the site for its billboard for more than 15 years and recently extended through December 2037. Rent is $7,000 a year until 2030 and $9,000 after that, and the tenant pays utilities and insurance. Current net operating income is $5,900, a 5.36% cap rate. Title is clear of redevelopment agency restrictions, and the paved lot could also host a food truck for extra income.

The parcel is at the northeast corner of Belmont Avenue and North First Street, close to the Highway 41 and 180 ramps. About 45,937 cars per day pass the corner. The area has a walk score of 75, and nearby tenants include Starbucks, McDonald's and Grocery Outlet. Fresno is in Fresno County, part of the Fresno metropolitan area.

Jared Ennis and Kevin Land of Central CA Commercial represent this offering on behalf of ownership. We are glad to share the full offering memorandum and the lease details, along with additional photos and property details, and to answer questions about the property and the surrounding area. Contact us to discuss the opportunity or to schedule a tour.