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$ 1,275,000
Est. payment | /mo
3,444 SqFt
$ 1,275,000
Est. payment | /mo
3,444 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,444 sqft
Price per Sqft $370
MLS Listing ID 655754
HOA Y/N No
Year Built 1987
Lot Size 10,528 Sqft
Property Sub-Type Commercial
Property Description
Two-tenant retail investment opportunity located at 444 E Olive Ave in Fresno. The property consists of approximately 3,444 square feetand is occupied by two established tenants: a laundromat and a pizza restaurant. Asking price is $1,275,000. Based on seller-providedestimated NOI of $76,601, the offering reflects an approximate 6.01% cap rate. The property also reflects an approximate 8.11% grossscheduled income yield based on total annual gross billings. Current lease structure includes base rent plus NNN reimbursements,existing 3% yearly rent raises, and tenant reimbursement obligations. Seller is currently negotiating updated long-term leasedocumentation with the existing tenants. The property benefits from a visible Olive Avenue location, established neighborhood traffic,and income from two separate tenants. Please contact listing agent for rent roll, operating statement, lease information, and duediligence materials. Buyer to verify all income, expenses, lease terms, square footage, zoning, permitted uses, taxes, and reimbursableexpense treatment
Location
State CA
County Fresno
Zoning CMS
Interior
Cooling Central Heat/Cool
Exterior
Parking Features 10 - 20 Spaces
Roof Type Flat
Building
Sewer Public Sewer
Water Public
Listed by Gurbeer Sangha Epique Realty
NEARBY SCHOOL & BUSINESS