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1725 Broadway St

18,750 SF Sports & Entertainment Building Offered at $3,995,000 at a 14.03% Cap Rate in Fresno, CA 93721

Investment Highlights

  • Long Standing Venue (100+ Years) Generating A Profit
  • Everything Is Included: Type 47 Liquor License, Equipment, etc
  • Superior Location w/ Limited Competition | Abundant Parking
  • Flagship Downtown Location Surrounded by Eateries/Events
  • Year-Round Venue w/ Healthy Cash Flow | Value Add Opportunity
  • Fresno County's Dominate Metropolitan Area

Executive Summary

Successful and profitable Ballroom/Concert Venue PLUS the real estate! Opened in 1918 as a Natatorium and later restored as the Rainbow Ballroom in 1924 and the music has never stopped. It is the dominant landmark stitching together a unique and diverse music and entertainment district. The iconic building sits on Broadway St., the former CA-99 through Fresno, CA until the post-war expressway was built. Many nearby buildings were closed during the 1960's realignment project, but the Rainbow Ballroom been a constant throughout the years! The Rainbow Ballroom has become a premier location for live musicians to perform, including Janis Joplin, Creedence Clearwater Revival, Carlos Santana, Ike and Tine Turner Revue, Fleetwood Mac, Snoop Dog, Tyler, The Creator, A$AP Ferg, and many more! The Rainbow Ballroom also offers their venue to other events including Quinceanera's, Weddings, MMA fighting, filming, and Charity Drives.
The Rainbow Ballroom is a ±18,750 SF Entertainment Ballroom/Concert Building on ±0.43 acres; The Rainbow Ballroom consist of 2 levels to offer more space when holding an event. The lower level offers a large 20'x32' stage that's 5' high, a maple flooring dance floor that can fit 600-800 people, Ballroom VIP that has 14 tables, additional VIP table area that hold 64 people, kitchen sitting area, large bar that has recently been remodeled, soft drink sales station, large kitchen with a very clean 5-year-old Ansul system in the kitchen with a 6-burner stove, flat top and 2 ovens, (2) preparation tables, (2) ice cream freezers, walk-in freezer, (2) beer fridges (3-door model), Keg cooler, and ice machine. Features (2) women's restrooms that have been completely remodeled, (1) men's restroom, private restroom for workers and musicians, and an extra area for band members. Upstairs on the second floor there are (2) additional rooms, restroom with a shower, and a large balcony for the DJ. The building is equipped with fire sprinklers throughout. This Turn-key fully operational business including 2 separate parking lots with 100 parking stalls (totaling ±0794 acres), business website, domain, 1- Type 47 Liquor License (allows for catering), tables, chairs, bar and kitchen equipment, and all office equipment.
Centrally located in the fastest growing region in California to proudly serve all of Central California including cities such as Fresno (972,297 metro), Clovis (102,189), Madera (154,998), Visalia (130,753), Tulare (61,170), Hanford (55,840), Lemoore (26,199), Merced (81,743), Sanger (24,270), Selma (23,219), Kingsburg (11,382), and more!
Previous gross sales
2006: $641,788.51
2009: $941,700.70
2010: $1,194,465.60
2011: $1,240,004.19
2018: $548,747.45
2019: $574,037.16

Property Facts

Price $3,995,000
Price Per SF $213
Sale Type Investment
Cap Rate 14.03%
Property Type Sports & Entertainment
Property Subtype Theater/Concert Hall
Building Class C
Lot Size 1.22 AC
Building Size 18,750 SF
No. Stories 1
Year Built 1935
Tenancy Single
Parking Ratio 0.53/1,000 SF
Opportunity Zone Yes
Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (86)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 466-192-11
  • 466-192-07
  • 466-196-02
  • 466-195-02
Land Assessment
$237,480
Improvements Assessment
$305,369
Total Assessment
$542,849

zoning

Zoning Code DTN (Downtown - Neighborhood)
DTN (Downtown - Neighborhood)
  • Listing ID: 22020262

  • Date on Market: 1/20/2021

  • Last Updated:

  • Address: 1725 Broadway St, Fresno, CA 93721

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