For Sale
$12,500,000

2788 Larkin AveFresno, CA 93727

Multi-tenant warehouse, high NOI, strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 114,964 square foot, multi-tenant warehouse complex in Fresno, CA. Comprising two buildings on a 5.2-acre lot, the property boasts 96% occupancy and a strong net operating income (NOI) of $715,000, yielding a 5.72% cap rate. Built in 1983, the property features 97 parking spaces and is zoned for industrial use in Fresno County (APN: 496-202-01). The asking price is $12,500,000, translating to $108.73 per square foot. The property benefits from a stable rent roll with minimal near-term rollover risk (next rollover June 2027), and significant upside potential due to below-market rents. Located in a prime Central Valley location, the property enjoys excellent access to major transportation arteries, including SR-99 and I-5, rail lines, and Fresno-Yosemite International Airport. The area is experiencing robust industrial growth, with projected job increases and high rent growth, making this a compelling investment in a thriving market. The anchor tenant, occupying approximately 80% of the space, has made significant investments in specialized equipment, further enhancing the property's value. This is a stabilized investment with a strong, diversified tenant base in a high-demand location.

Highlights

  • 114,964 SF multi-tenant warehouse complex on a 5.2-acre lot in Fresno, CA. 96% occupancy, $715,000 NOI, 5.72% cap rate. Asking price: $12,500,000 ($108.73/SF).
  • Strong projected job growth in Fresno County (140,000 jobs over 10 years) and significant industrial rent growth (projected >26% over 3 years). Low vacancy rate (2.7%) in a tight industrial market.
  • Excellent location with access to SR-99, I-5, rail lines, and Fresno-Yosemite International Airport. Prime Central Valley location with strong transportation infrastructure.
  • Business-friendly environment with numerous companies and state/federal incentive programs. High-demand location with a stable tenant base and minimal near-term rollover risk (next rollover June 2027). Anchor tenant occupies ~80% of the space.

Property Details for 2788 Larkin Ave

Property type
Warehouses, Industrial properties
Square Feet
114,964 SF
Year Built
1983
Buildings
2
Lot Size (sq. ft)
226,512 SF

Location Insight

City
Fresno
County
Fresno
State
California
Latitude
36.7749994
Longitude
-119.6973086
2788 Larkin Ave, Fresno, California

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2788 Larkin Ave
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