100 1st Street

100 1st Street is a single-tenant office investment in Coalinga, CA, within the Coalinga submarket. The 1,504 SF building is 100% occupied, giving a buyer an established tenant and an income-producing position from the outset.

Built in 1979, the building includes a communal lobby, an open reception area, a warehouse storage area and two private bathrooms. The property also has a fenced outdoor storage area and an open dirt lot on 0.26 acres. CalNeva Broadband has operated at this location since 2016, with its lease running through September 2031. That combination of office and storage space supports the tenant’s existing use, while the single-tenant arrangement gives an investor a straightforward property to oversee.

The property fronts 1st Street and East Forest Avenue, near CA 198. Visibility from those streets and access to the highway serve a tenant whose work extends beyond the office. Nearby businesses include Save Mart, O’Reilly Auto Parts, Starbucks and Tractor Supply Co. This setting places the building among familiar commercial destinations rather than relying on the office space alone to define its location.

Offered at $265,000, or $176.20 PSF, the property has $30,561 in gross annual in-place rent, $22,561 in NOI and a 9% cap rate. For an investor, the central proposition is current income from a tenant with a long operating history at the address and a lease extending through September 2031. Review the Offering Materials for the next step in examining the investment.

Highlights

• Gross Annual Rent of $30,561
• ±1,504 SF Office Building in Coalinga
• CA
• CalNeva Has Operated At This Location Since 2016
• Fully Leased Investment Property
• Lease Through 2031
• Functional Office Space
• Easy To Rent
• Long-Term Tenant
• Low Turnover
• Low Maintenance
• Ample Indoor And Outdoor Storage Space
• Fenced Outdoor Yard Area
• Ample Available Street Parking
• Requires Little Management or Maintenance
• Great Access & Visibility w/ Easy Highway Access

Property details

• Market: Fresno
• Tenant: CalNeva Broadband
• Tenant lease expiration: September 2031
• Tenant occupancy since: 2016
• Interior: open reception space
• warehouse storage area
• two private bathrooms
• Exterior: fenced outdoor storage area and open dirt lot area
• Location: 1st Street and East Forest Ave
• near CA 198
• Nearby retailers: Taco Bell
• KFC
• McDonalds
• Subway
• Save Mart
• O'Reilly Auto Parts
• Starbucks
• Little Caesars Pizza
• Tractor Supply Co.
• Burger King
• Big 5 Sporting Goods
• Annual base rent: $30561
• Annual gross income: $30561
• Annual property insurance: $3000
• Capital reserve: $2000 (7%)
• Annual operating expenses: $8000
• Population (1/5/10 miles): 10133 / 13359 / 17947
• Average age (1/5/10 miles): 35 / 35 / 36
• Average male age (1/5/10 miles): 34 / 34 / 36
• Average female age (1/5/10 miles): 36 / 36 / 36
• Households (1/5/10 miles): 3316 / 4141 / 4534
• Persons per household (1/5/10 miles): 3.1 / 3.2 / 4
• Average household income (1/5/10 miles): $83199 / $85521 / $87976
• Average house value (1/5/10 miles): $299239 / $304126 / $294230
• Hispanic population (1/5/10 miles): 70.2% / 69.4% / 68.3%
• Coalinga population (2020 census): 17590
• Coalinga population (2010 census): 13380
• Nearby landmarks: Pleasant Valley State Prison and Coalinga State Hospital
• Tenant occupancy start: 2016
• Property insurance expense: $3,000