2304 Monterey StFresno, CA 93721

Property Details for 2304 Monterey St

Lot size

0.86 AC

Property size (Sq ft)

15,500 SF

Property type

Warehouses

Property subtype

Mixed-use properties

Description

This exceptional investment opportunity presents a fully leased, ±15,500 square foot industrial property located at 2304 Monterey St, Fresno, CA 93721. The property consists of two freestanding buildings situated on a 0.86-acre lot, zoned DTN - Downtown Neighborhood. The main building encompasses approximately 14,000 square feet of warehouse space and 1,500 square feet of office/showroom area, featuring 13 ground-level loading doors (6 pull-through bays), 16-foot clear height, and 600 amps of 3-phase power. A secondary building adds approximately 5,000 square feet of warehouse space with five ground-level loading doors and a small office. The property boasts a fully fenced yard and ample paved area. Currently 100% occupied under a triple net (NNN) lease with Pombo's Fleet Service, the lease commenced November 1, 2023, and has a remaining term of approximately four years, expiring November 30, 2028. The current annual net operating income (NOI) is $145,000, yielding a 7.27% cap rate, projected to increase to 7.95% pro-forma and 8.6% by July 2026. The asking price is $1,995,000, translating to $128.71 per square foot. This property offers a strong value-add investment opportunity in a desirable location with limited competition, providing excellent access to major Fresno freeways. The tenant has occupied the property for over 45 years.

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7291

Longitude

-119.779

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