319 N Van Ness Ave, Fresno, CA

This freestanding building offers an investment or owner-user opportunity, totaling approximately 8,100 square feet of general, professional, and/or medical space. Situated on approximately 0.29 acres (approximately 12,675 square feet), the property features eight economical, separate spaces. Currently 44% leased to long-term tenants on gross lease forms, the average unit size is 900 square feet. The property presents a value-add opportunity with existing rents of $45,600 per year and potential for increased income. Each unit has multiple sink locations, access to high-speed internet, separate metering, private restrooms, private entrances, and demising walls that allow for combining spaces. There are seven identical units of 575 square feet each, which can be combined via existing connecting doors to create larger units. The offices require fresh paint and flooring to be move-in ready. Excellent signage, great visibility, and easy access to CA-180 and CA-99 on/off ramps. The property is suitable for an owner/user seeking passive income or as an investment. The realistic 6-12 month stabilized gross annual income is $96,342. The value-add opportunity includes leasing three vacancies of 575 square feet each, addressing under-market rent for four month-to-month tenants, extending lease lengths, and charging customary pass-through expenses for water, sewer, trash, and gardening.