Description

We are offering 444 N Blackstone Ave in Fresno, California, for sale at $529,900, or about $152.27 per square foot. The property is a 3,480-square-foot freestanding four-suite retail and office building built in 1949 on approximately 0.165 acres. The site is zoned CG and carries Assessor's Parcel Number 459-071-19.

The building has four suites with separate addresses, all leased to long-term tenants on modified gross leases for $3,250 per month, or $39,000 a year. Suites range from about 750 to 1,030 square feet and connecting doors allow combining them. Updates include paint, hard-surface flooring, LED lighting, newer HVAC units and a sound roof. Each suite has a separate meter, a private ADA restroom and a secured entrance, and we project a 9.43% cap rate on $49,969 of pro forma net income.

The property is at Blackstone and Belmont Avenues near Highways 180 and 41 in central Fresno. Nearby are Community Regional Medical Center, Harley-Davidson, McDonald's and Starbucks, and there is a private lit parking lot. Fresno is in Fresno County, part of the Fresno metropolitan area. Small suites like these are in strong demand in this under-built market.

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.