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Fashion Furniture | 255 W El Paso Ave
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Fashion Furniture 255 W El Paso Ave
89,080 SF Retail Building Fresno, CA 93711 $15,979,000 ($179/SF) 8% Cap Rate
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INVESTMENT HIGHLIGHTS
- 15-year absolute net lease with 2.5% annual rental increases
- Priced below replacement cost – $179.38/SF
- Heavy retail presence in the trade area directly benefits from the affluent demographics – $116,476 average household incomes within a 3-mile radius
- Replaceable market rent
- Subject property directly adjacent to Sprouts & Ross and across the street from Lowe’s & Sam’s Club
- Multiple nearby shopping centers with large national anchors including Costco, Target, Kohl’s, Best Buy, Dick’s Sporting Goods, Trader Joe’s
EXECUTIVE SUMMARY
High yield investment with 60-year operating history and robust unit level performance.
A 15-year absolute net lease with personal and corporate guaranty from the operator with 2.5% annual rental increases in an A+ retail corridor node with over 2M+ SF of class A retail.
A 15-year absolute net lease with personal and corporate guaranty from the operator with 2.5% annual rental increases in an A+ retail corridor node with over 2M+ SF of class A retail.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
89,080 SF
Building Class
C
Year Built
2001
Price
$15,979,000
Price Per SF
$179
Cap Rate
8%
NOI
$1,278,298
Tenancy
Single
Building Height
1 Story
Building FAR
0.56
Lot Size
3.66 AC
Zoning
CM
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | 303-670-14S | Improvements Assessment | $5,908,644 |
Land Assessment | $1,978,876 | Total Assessment | $7,887,520 |
PROPERTY TAXES
Parcel Number
303-670-14S
Land Assessment
$1,978,876
Improvements Assessment
$5,908,644
Total Assessment
$7,887,520
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Fashion Furniture | 255 W El Paso Ave
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