1830 Clovis AveClovis, CA 93612

Property Details for 1830 Clovis Ave

Year built

1964

Construction

TILT-UP CONCRETE

Lot size

5.41 AC

Property size (Sq ft)

67,020 SF

Zone code

C2

Property type

Retail properties

Property subtype

Strip malls

APN

497-223-11

APU

49722311

Description

This exceptional investment opportunity presents the leasehold interest in the Bonanza Shopping Center, a 69,623-square-foot grocery-anchored shopping center located in Clovis, California. Situated on 6.01 acres at the southwest corner of Clovis Avenue and Shaw Avenue, this 100% occupied center boasts a diverse mix of 16 tenants providing essential daily needs and services. The property benefits from a strong anchor tenant, a high-performing Grocery Outlet, complemented by recession-resistant tenants such as Octapharma Plasma and The Salvation Army. Other tenants include a variety of fitness, restaurant, and personal care businesses, catering to the thriving community. Clovis is experiencing significant population growth, exceeding 20% since 2010, and demonstrates strong demographics with an average household income of $97,984 within a three-mile radius. This prime location, coupled with the center's resilient tenant mix, offers a compelling investment opportunity with a current NOI of $1,028,044 and an 8.16% cap rate. The ground lease extends until January 31, 2057, providing long-term stability. The asking price is $12,600,000, representing a price per square foot of $180.97. This is a Core+ leasehold investment with significant upside potential in a rapidly expanding market.

• CAP approach

  CAP return

  Valuation

  6%

  $21,623,550

  6.5%

  $19,960,200

  7%

  $18,534,472

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,833,938

  Geo Method

  $47,105,220

• Alternative Use

  Use

  Valuation

  Residential

  $16,837,176

  Hospitality

  $15,422,762

  Educational

  $12,831,557

  Medical

  $13,272,854

  Retail

  $19,960,200

Location Insight

City

Clovis

County

Fresno

State

California

Latitude

36.8095

Longitude

-119.701

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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