2015 Mariposa StFresno, CA 93721

Property Details for 2015 Mariposa St

Year built

1970

Construction

TILT-UP CONCRETE

Lot size

0.28 AC

Property size (Sq ft)

10,018 SF

Zone code

DTC

Property type

Retail space

APN

466-171-11

APU

46617111

Description

This exceptional value-add opportunity consists of three buildings totaling 55,258 square feet in Fresno's vibrant Fulton District. The portfolio includes a mix of retail and restaurant spaces, currently housing six tenants across three buildings situated on three separate parcels (APN: 466-171-11,12,13) with a combined lot size of 30,771 square feet. Built in 1948, these three buildings, featuring a three-story mixed-use structure and two single-story buildings, offer significant upside potential. The property boasts a current NOI of $200,245 and a pro-forma NOI of $483,443, translating to a 7.42% cap rate and a pro-forma cap rate of 13.37%, respectively. The asking price is $2,700,000, representing a price per square foot of $48.86. The permitted zoning is DTC. The prime location offers ample street parking and proximity to major attractions, including the Brewery District, Fresno Convention & Entertainment Center, Saroyan Theatre, and Robert A. Schoettler Conference Center. The surrounding area has a population of over 305,000 within a 5-mile radius, with an average household income of $54,040. This presents a compelling investment opportunity for buyers or owner-users seeking to capitalize on the growth and potential of Downtown Fresno. The portfolio's strategic location and significant upside potential make it an attractive addition to any investment portfolio. The buildings are situated at 2015 Mariposa St, 1118 Fulton St, and 1130 Fulton St, Fresno, CA 93721. One building features a unique Art Deco design. This fee simple ownership opportunity is priced well below replacement cost.

• CAP approach

  CAP return

  Valuation

  6%

  $2,087,716

  6.5%

  $1,927,122

  7%

  $1,789,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,352,336

  Geo Method

  $7,041,184

• Alternative Use

  Use

  Valuation

  Residential

  $1,625,600

  Hospitality

  $1,489,041

  Educational

  $1,238,864

  Medical

  $1,281,471

  Retail

  $1,927,122

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7353

Longitude

-119.791

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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