Listing Agency: KW Commercial | Central California Show Phone

Listed By: Jared Ennis Show Phone

Source: Moodyscre

Added: Dec 26, 2023 Changed: Oct 26 Last Checked: Oct 30 at 6:20PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial | Central California

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Investment Insights

Based on property information with market context.

This fully leased freestanding office/warehouse property features approximately 15,500 square feet, along with a fenced yard. The property is an absolute-net lease with zero landlord responsibility. The location is considered superior with limited competition in a strategic trade area, offering excellent access to major freeways and close proximity to major traffic generators. The property includes 14,000 square feet of warehouse/parts room space and 1,500 square feet of office space. It features quality construction, is well maintained, and offers economical spaces. The building has clear span construction with a small office and parts room. There are 13 ground-level doors with 16' clear height, along with 6 pull-through truck bays. The property is equipped with heavy 600 AMPS, 3-phase power. City utility services are available. The property is a prime alternative to new construction.

Key Highlights

• Absolute‑Net Lease w/ Zero Landlord Responsibility
• Fully Leased Investment w/ Long‑Term Tenancy
• Cash Cow w/ Scheduled Gross Rents of $192,000

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$138,289

Cap Rate

7.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,765,780 $2.8M

Cap Rate 7%

$1,975,557 $2.0M

Cap Rate 9%

$1,536,544 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,500 SF

Gross rent

$165.5K $10.68/SF

− Vacancy

−$2.8K −$0.18/SF

EGI

$162.7K $10.50/SF

− OpEx

−$24.4K −$1.57/SF

NOI

$138.3K $8.92/SF

Area

Fresno, CA

Vacancy

1.72%

Lease Rate

$10.68 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,765,780

Cap Rate 7%

$1,975,557

Cap Rate 9%

$1,536,544

Alternative Uses

Best Use

Flex RnD

$2.95M

$2.58M – $3.45M (±1% cap)

NOI $206,739 @ 7.0% cap · market cap 10.91%

Second Best

Warehouse

$1.98M

$1.73M – $2.30M (±1% cap)

NOI $138,289 @ 7.0% cap · market cap 7.30%

Theoretical Best

Office A

$4.57M

$4.00M – $5.33M (±1% cap)

NOI $319,734 @ 7.0% cap · market cap 16.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Pombo Automotive & Truck Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic Pharmacy Spa & Massage Center Electrical Service Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,473

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Similar Off Market Nearby

• Swift Cold Storage — 2950 E California Ave, Fresno, CA 93721
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Frequently Asked Questions

What type of property is this?

Warehouse - Fully leased investment property with long-term tenancy and high traffic.

Where is this warehouse located?

The property is located at 2304 Monterey St Fresno, CA.

What is the asking price?

The asking price for this property is $1,895,000.

What are key features of this property?

This property features: Absolute‑Net Lease w/ Zero Landlord Responsibility; Fully Leased Investment w/ Long‑Term Tenancy; Cash Cow w/ Scheduled Gross Rents of $192,000