For Sale
$2,127,000

406 Elm AveCoalinga, CA 93210

High-yield, stabilized investment opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A, 3,264 square foot office building in Coalinga, CA, presents a rare investment opportunity. Located at 406 E Elm Ave, this single-story structure, built in 2004 and extensively renovated in 2023, sits on a 1.3-acre lot. Currently leased to a single tenant under a modified 10-year lease commencing March 1, 2024, and expiring February 28, 2034, offering a strong remaining lease term of 9.3 years. The current annual rent is $13,000 per month, with a built-in 5% annual increase for the first two years and 3% annually thereafter. The tenant is investing $148,670 in improvements (commencing November 2023) to upgrade technology, computers, and HVAC systems. The property boasts a strong net operating income (NOI) of $117,022, resulting in an attractive 5.50% cap rate. The asking price is $2,127,000, translating to $651.65 per square foot. This stabilized investment offers a secure and lucrative return with a long-term, creditworthy tenant. The property's location in Fresno County, CA, zip code 93210, provides easy access to local amenities and transportation. This is a turnkey investment ideal for those seeking a stable, high-return asset with minimal management requirements.

Highlights

  • $2,127,000 asking price for a stabilized Class A office building.
  • Single-tenant, government office (DMV) lease with 9.3 years remaining.
  • 3,264 square feet on a 1.3-acre lot in Coalinga, CA.
  • $651.65 per square foot; 5.50% cap rate; $117,022 annual NOI.
  • 10-year lease commencing March 1, 2024, with rent increases built in.
  • Recently renovated in 2023; originally built in 2004.

Property Details for 406 Elm Ave

Property type
Office properties, Government properties
Square Feet
3,264 SF
Class
A
Year Built/Renovated
2004/2023
Buildings
1
Stories
1
Lot Size (sq. ft)
56,628 SF

Location Insight

City
Coalinga
County
Fresno
State
California
Latitude
36.14322208
Longitude
-120.3570797
406 Elm Ave, Coalinga, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
406 Elm Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message