2990 Nees AveFresno, CA 93720

Property Details for 2990 Nees Ave

Year built

2006

Construction

WOOD

Lot size

1.67 AC

Property size (Sq ft)

17,272 SF

Zone code

CC

Property type

Retail space

APN

403-770-23S

APU

40377023S

Description

This exceptional retail property, a former Rite Aid, presents a compelling opportunity for owner-users or investors. Located at 2990 E. Nees Ave in Fresno, California, 93720, this freestanding building boasts 17,272 square feet on a 1.67-acre lot. Built in 1974, the property is zoned CC by the City of Fresno and is currently vacant, offering immediate occupancy. The building's design includes a convenient drive-thru, a significant advantage for various retail uses. Situated in the thriving Northeast Fresno/Clovis submarket, the property benefits from high traffic counts due to its location on a signalized intersection. Ample parking is available for customers and employees. The surrounding area is affluent, boasting an average household income of $128,004, and falls within the highly regarded Clovis Unified School District. This prime location and substantial square footage make this property an ideal investment or a perfect space for a new retail venture. The property's size and features make it suitable for a variety of retail uses.

• CAP approach

  CAP return

  Valuation

  6%

  $5,572,694

  6.5%

  $5,144,026

  7%

  $4,776,595

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,400,056

  Geo Method

  $12,139,680

• Alternative Use

  Use

  Valuation

  Residential

  $4,339,178

  Hospitality

  $3,974,664

  Educational

  $3,306,874

  Medical

  $3,420,602

  Retail

  $5,144,026

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.8526

Longitude

-119.731

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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