255-285 El Paso AveFresno, CA 93711

Property Details for 255-285 El Paso Ave

Property size (Sq ft)

110,218 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a 110,218 square foot retail portfolio in Fresno, CA, anchored by Fashion Furniture and Lou Rodman's. The property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $1,629,295. Both tenants enjoy long-term, 15-year net leases with favorable 2.5% annual rent bumps, ensuring consistent income growth. The property is strategically located at 255-285 W El Paso Ave, 93711, directly adjacent to Sprouts and Ross, and across from Lowe's and Sam's Club, benefiting from high foot traffic and a strong retail environment. The area features multiple nearby shopping centers with major national anchors, including Costco, Target, Kohl's, Best Buy, Dick's Sporting Goods, Trader Joe's, and In-N-Out. The affluent demographics, with average household incomes exceeding $116,476 within a 3-mile radius, further enhance the investment's appeal. Fashion Furniture has a remarkable 65-year operating history at this location, while Lou Rodman's boasts 19 years. The asking price of $20,366,000 is priced below replacement cost at $184.78 per square foot, representing a compelling value proposition. This portfolio is available for sale as a whole, offering a secure and lucrative investment opportunity with significant upside potential. The property's prime location, strong tenant history, and favorable lease terms make it an ideal addition to any diversified investment portfolio.

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.8451

Longitude

-119.794

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