2801-2819 N Blackstone Ave, Fresno, CA

This freestanding building offers a 100% leased investment opportunity, totaling approximately 6,866 square feet on approximately 0.4 acres (approximately 17,424 square feet) of office or retail space off Blackstone Avenue. The property features nine economical, separate spaces, each with a private restroom and leased to long-term tenants at a modified gross lease rate. Two suites include brand new HVAC systems. The property generates in-place rents of $75,600 per year with upside potential. Tenants pay the scheduled base rent plus the actual cost of customary pass-through expenses such as trash, water, and electrical. After realizing the scheduled annual increases (3% per year) and extending leases to the market rate of $1.40 per square foot per month for the smaller units, the realistic 6-12 month gross annual income is scheduled to be $94,584, representing a 25% upside. This unique investment offers easy-to-rent small office spaces in an under-built market with a strong need for these types of spaces. The deal offers a 9.87% cash-on-cash return when leveraged with 30% down, producing a 2.01 DCR. The property provides unique flexibility, offering configurations ranging from approximately 375 to 1,200 square feet with the ability to combine spaces to create larger units via existing connecting doors between the units. It includes access to high-speed internet, separate meters, private ADA restrooms, a full exterior lit private parking lot, excellent existing signage, great visibility, and easy access to CA-41 ramps.