373 Fresno StFresno, CA 93701

Property Details for 373 Fresno St

Year built

1920

Construction

TILT-UP CONCRETE

Lot size

0.06 AC

Property size (Sq ft)

7,319 SF

Zone code

NMX

Property type

Retail properties

Property subtype

Retail space

APN

459-173-14

APU

45917314

Description

This 7,319 square foot mixed-use property at 373 N. Fresno St., Fresno, CA 93701, is a unique investment opportunity. The building, constructed in 1920 and 1948, and currently undergoing renovations completed in 2024, boasts 5 units: three commercial spaces on the ground floor and two 3-bedroom, 1-bathroom apartments on the second floor. Recent upgrades include new fire sprinklers, electrical, plumbing, and roof repairs, showcasing exposed original brick architecture. The sale includes key fixtures and appliances to be installed by the buyer. The property sits on a 9,963 square foot lot and includes a security-gated parking lot with approximately 12 spaces. One commercial unit is currently leased under a triple-net (NNN) 10-year lease (commencing November 1, 2022, expiring October 31, 2032) with an 8-year remaining term and a 5-year renewal option, featuring a 4% annual rent increase. The property is zoned NMX (Neighborhood Mixed Use) and is ideally situated near Downtown Fresno and the Tower District, offering easy access to major freeways (180, 41, and 99), public transit, the future High-Speed Rail station, and Fresno Yosemite International Airport. The asking price is $750,000, sold as-is, with the buyer responsible for completing remaining renovations. Seller financing may be available. This heritage-designated property may qualify for funding to support preservation and restoration efforts. Further details on this opportunity can be found through the City of Fresno Historic Preservation page.

• CAP approach

  CAP return

  Valuation

  6%

  $1,525,254

  6.5%

  $1,407,926

  7%

  $1,307,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,449,166

  Geo Method

  $5,144,182

• Alternative Use

  Use

  Valuation

  Residential

  $1,187,639

  Hospitality

  $1,087,871

  Educational

  $905,096

  Medical

  $936,223

  Retail

  $1,407,926

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7484

Longitude

-119.782

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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