Description

We are offering 617 N Fulton St in Fresno, California, for sale at $350,000, or about $152.17 per square foot. The property is a 2,300-square-foot three-unit office building built in 1953 on approximately 0.951 acres. The site is zoned CMS - Commercial Main Street.

The building is divided into three units, each with an open floor plan and its own restroom, and all three are occupied by long-term tenants. Two of the units have remote-controlled wrought iron gates at the rear for a secure private entrance. Current net operating income is $23,740, a 6.78% cap rate at the asking price, and we project a 7.83% cap rate on about $43,000 in annual rents once the one below-market lease is brought up to market over the next six to twelve months.

The property sits on North Fulton Street near Belmont Avenue in the Tower District, an area known for its restaurants, arts and entertainment. State Routes 41, 99 and 180 are close by, Downtown Fresno is a short drive south and Fresno Yosemite International Airport is about 7.5 miles away. 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.