2615 Chestnut AveFresno, CA 93725

Property Details for 2615 Chestnut Ave

Year built

2008

Construction

TILT-UP CONCRETE

Lot size

1.42 AC

Property size (Sq ft)

6,840 SF

Zone code

IL

Property type

Retail properties

Property subtype

Retail space

APN

481-140-25

APU

48114025

Description

This exceptional investment opportunity presents a single-tenant, free-standing retail building occupied by AutoZone, a Fortune 500 company. Located at 2615 S Chestnut Ave, Fresno, CA 93725, this 6,480 square foot building sits on a 61,855 square foot lot and boasts a prominent hard corner location with high visibility (approximately 24,000 vehicles per day). The property features a Net Lease (NNN) agreement with a corporate guarantee, offering significant security and minimal landlord responsibilities (landlord responsible for structural maintenance only). The current lease commenced March 1, 2021, and expires November 30, 2033, providing a remaining lease term of approximately nine years. The monthly rent is $12,500, generating a Net Operating Income (NOI) of $150,000, resulting in a 5.04% cap rate. The lease includes two five-year renewal options and a 10% rent increase every five years after December 1, 2028. Built in 2008, the property is zoned CM and benefits from a strong consumer base with approximately 88,000 residents and workers within a three-mile radius. Co-tenants in the immediate area include 7-Eleven, Dollar General, and Subway. The asking price is $2,975,000, translating to $459.10 per square foot. This is a rare opportunity to acquire a high-performing, investment-grade property with a strong tenant and significant upside potential. The property's APN is 481-140-25.

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7065

Longitude

-119.736

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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