444 Blackstone AveFresno, CA 93701

Property Details for 444 Blackstone Ave

Year built

1949

Construction

TILT-UP CONCRETE

Lot size

0.17 AC

Property size (Sq ft)

3,480 SF

Zone code

CMX

Property type

Retail properties

Property subtype

Retail space

APN

459-071-19

APU

45907119

Description

This exceptional 3,480 square foot retail/office building is ideally situated on Blackstone Avenue in central Fresno, California. The property, built in 1949, boasts a Class B designation and features eight units, each approximately 900 square feet, offering a unique opportunity for both investors and owner-occupiers. Currently, the building has 20% occupancy, with one unit under a one-year lease. The building is zoned CG and permits cannabis retail, located outside the exclusion area and more than 800 feet from sensitive uses. The property includes ample parking in the rear, along with street parking, and features direct access to Blackstone and Shaw Avenues, experiencing high daily traffic volume. Four separately metered offices provide flexibility in configuration and size. Units 444 and 446 are currently occupied by the seller's printing company, easily divisible into separate units. Unit 448 was formerly a church, and unit 450 houses a barbershop. The seller is open to a leaseback arrangement or vacating the premises, providing the buyer with options. This property presents a strong value-add opportunity, with easy-to-rent small office spaces in a high-demand market. The asking price is $529,900, translating to $152.27 per square foot. The 0.165-acre lot offers a secure, established location with a quality tenant mix. High-speed internet and ethernet connections are available. The property's prominent location and high visibility make it an attractive investment, potentially suitable for an SBA loan. The APN is 459-071-19.

• CAP approach

  CAP return

  Valuation

  6%

  $725,220

  6.5%

  $669,434

  7%

  $621,617

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,164,517

  Geo Method

  $2,445,929

• Alternative Use

  Use

  Valuation

  Residential

  $564,692

  Hospitality

  $517,255

  Educational

  $430,350

  Medical

  $445,151

  Retail

  $669,434

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7496

Longitude

-119.79

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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