For Sale
$1,050,000

481 Pollasky AveClovis, CA 93612

Prime Old Town Clovis storefront, fully leased.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fully leased, multi-tenant retail building situated on a prominent corner lot in Old Town Clovis, California. The 5,125 square foot building, constructed in 1940 and zoned C3-Commercial, sits on a 0.12-acre lot (APN: 492-205-83 & -84) at 481 Pollasky Ave, Clovis, CA 93612. The property boasts three retail units, currently occupied by two long-term tenants, including a bridal shop that has been at this location for 14 years. Recent tenant improvements in two suites include new flooring, upgraded restrooms, crown molding, energy-efficient LED lighting, fresh paint, and updated HVAC systems (two 5-year-old units). The building features separate HVAC and utility meters for each unit, simplifying management and offering flexibility. Ample parking and mature landscaping enhance the property's curb appeal. The property benefits from excellent visibility and accessibility, with easy access to Highway 168. Current gross annual rents total $94,416.00, representing a 6.25% cap rate, with potential for increased income through lease renewals and rent adjustments to market rates, potentially reaching $109,200 annually (a 15.67% increase). This well-maintained property offers a strong cash flow and significant upside potential, making it an ideal investment for those seeking a stable, low-maintenance income stream in a desirable location. The property's prime location and strong tenant occupancy make it an excellent SBA loan candidate.

Highlights

  • Fully leased retail investment property with two long-term tenants.
  • Three retail spaces totaling 5,125 square feet in a prime corner location.
  • Tenants recently completed a full remodel of two suites.
  • Madeline's Bridal has occupied its space for 14 years.
  • Property features separate meters and HVAC systems for each unit.
  • Generating $94,416 in annual gross rent, with potential for increase.

Property Details for 481 Pollasky Ave

Property type
Retail properties, Retail space
Square Feet
5,125 SF
Year Built
1940
Lot Size (sq. ft)
5,227 SF
Units
3

Location Insight

City
Clovis
County
Fresno
State
California
Latitude
36.8240998
Longitude
-119.7018117
481 Pollasky Ave, Clovis, California

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481 Pollasky Ave
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