Description

1407 North Van Ness Avenue is a freestanding retail property in Fresno’s Midtown West submarket, offering 9,250 SF of gross leasable area at a hard corner with Van Ness Avenue frontage. The building is 100% occupied, giving an investor an in-place income stream.

Built in 1937, the multi-tenant property comprises four fully leased spaces, including three retail spaces and a larger warehouse space. That mix gives the building more than one tenant relationship while retaining a single, freestanding retail presence. Surface parking serves the property, and an additional shared parking lot is included in the sale. The 0.28 acres and CMS: Commercial Main Street zoning define the site behind the existing operation.

The Midtown West location places the building on Van Ness Avenue, north of Floradora Avenue and south of McKinley Avenue. Its hard-corner position and frontage give the occupied spaces a visible presence for customers arriving from the surrounding streets. The property sits between CA-180 and CA-41, with access to major corridors that matters to tenants serving customers from beyond the immediate neighborhood.

The asking price is $795,000, or $85.95 PSF. In-place NOI of $41,400 supports a 5.21% in-place cap rate; stabilized NOI of $78,932 and a 9.45% stabilized cap rate present a separate income scenario rather than the current result. In-place rents are $41400 per year, compared with market rents of $105480 per year total. For a buyer, the distinction between current income and the stabilized case is central to the investment story. Review the Offering Materials for the transaction detail.

Highlights

Investment/Owner User Opportunity: ±9,250 SF Retail Building w/ Private Parking
Freestanding Building On Hard Corner
Great Visibility
(4) Fully Leased Spaces w/ Longstanding Tenants
Additional Shared Parking Lot Included In Sale
Excellent Presence Surrounded with Quality Tenants
Ample Private Parking w/ Van Ness Ave Frontage
Convenient Location Between CA-180 & CA-41
Prime Corner
Functional Retail Spaces
Low Maintenance
Easy Access from Surrounding Major Corridors

Property details

Tenant: Chase Flower Shop (1405 N Van Ness) · 1500 SF · annual rent $8400 · market rent $22500 · MTM
Tenant: Resistance Gallery (1407 N Van Ness) · 1050 SF · annual rent $7200 · market rent $15750 · MTM
Tenant: Wonderland Comics (1409 N Van Ness) · 1050 SF · annual rent $7800 · market rent $15750 · MTM
Tenant: Roger Rockas (1411-1415 Van Ness) · 5720 SF · annual rent $18000 · market rent $51480 · MTM
Rent roll totals: 9320 SF · annual rent $41400 · market rent $105480
Spaces: (3) retail spaces & (1) large warehouse space
Shared parking lot: additional 20 stalls
Market: Fresno
Location: north of Floradora Ave
west of Van Ness Ave
south of McKinley Ave
east of Maroa Ave
2026 Proforma gross rents: $105480
2026 Proforma property taxes: $10000
2026 Proforma insurance: $6000
2026 Proforma capital reserve & vacancy 10%: $10548
2026 Proforma operating expenses: $26548
2026 Proforma price: $835000
2026 Proforma price per SF: $90
2026 Proforma cash-on-cash return (yr 1): 9.45%
Population: 19612 (1 mi)
165108 (3 mi)
376109 (5 mi)
Average age: 37 (1 mi)
35 (3 mi)
35 (5 mi)
Total households: 7456 (1 mi)
52308 (3 mi)
120341 (5 mi)
Persons per HH: 2.6 (1 mi)
3.2 (3 mi)
3.1 (5 mi)
Average HH income: $74306 (1 mi)
$62583 (3 mi)
$69241 (5 mi)
Average house value: $318442 (1 mi)
$295102 (3 mi)
$313879 (5 mi)
Hispanic: 60.4% (1 mi)
66.1% (3 mi)