406 Elm AveCoalinga, CA 93210

Property Details for 406 Elm Ave

Year built

2004

Construction

WOOD

Lot size

1.03 AC

Property size (Sq ft)

5,140 SF

Property type

Office properties

Property subtype

Office buildings

APN

072-143-21S

APU

07214321S

Description

This exceptional Class A, 3,264 square foot office building in Coalinga, CA, presents a rare investment opportunity. Located at 406 E Elm Ave, this single-story structure, built in 2004 and extensively renovated in 2023, sits on a 1.3-acre lot. Currently leased to a single tenant under a modified 10-year lease commencing March 1, 2024, and expiring February 28, 2034, offering a strong remaining lease term of 9.3 years. The current annual rent is $13,000 per month, with a built-in 5% annual increase for the first two years and 3% annually thereafter. The tenant is investing $148,670 in improvements (commencing November 2023) to upgrade technology, computers, and HVAC systems. The property boasts a strong net operating income (NOI) of $117,022, resulting in an attractive 5.50% cap rate. The asking price is $2,127,000, translating to $651.65 per square foot. This stabilized investment offers a secure and lucrative return with a long-term, creditworthy tenant. The property's location in Fresno County, CA, zip code 93210, provides easy access to local amenities and transportation. This is a turnkey investment ideal for those seeking a stable, high-return asset with minimal management requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $728,679

  6.5%

  $672,627

  7%

  $624,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $682,542

  Geo Method

  $1,433,597

• Alternative Use

  Use

  Valuation

  Residential

  $834,057

  Hospitality

  $763,992

  Educational

  $635,632

  Medical

  $657,492

  Retail

  $988,761

Location Insight

City

Coalinga

County

Fresno

State

California

Latitude

36.1431

Longitude

-120.357

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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