Description

We are offering 2377 W Shaw Ave in Fresno, California, for sale at $775,000, or about $103.20 per square foot. The property is a 7,510-square-foot six-suite office building built in 1979 on approximately 0.23 acres. The site is zoned C-P and carries Assessor's Parcel Numbers 424-590-04, -05, -09.

The building is a portfolio of six condo suites of about 979 to 1,569 square feet, leased on modified gross terms to long-term occupants, with one 1,173-square-foot suite vacant. Net operating income is $57,174, a 7.38% cap rate, and once the vacancy is leased and two month-to-month tenants are extended we project about $101,603 in gross rents and a 7.58% cap rate. Each suite has its own meter, HVAC, restroom and entrance.

The building is in the landscaped Shaw Court Office Complex, south of Shaw Avenue, north of Fairmont Avenue, east of Hughes Avenue and west of Sequoia Avenue, with lit parking and corner signage. The Highway 41 and 99 ramps are close by, and an owner-user could occupy part of the building and keep the remaining income. 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 rent roll, 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.