Grocery-Anchored Retail Shopping
For Sale
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720 W Shaw Ave, Clovis, CA 93612
Willow Plaza is an 81,079 SF grocery-anchored shopping center anchored by Smart & Final Extra! and Dollar Tree.
Property Size81,079 SF
Price / SF$212.14
Days on Market108
Property Features for 720 W Shaw Ave
General Information
Standard status
Active
Size
81,079 SF
Property subtype
RETAIL
Occupancy
100%
Site & Location
Traffic Count
104,648 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Colliers | Fresno
(559) 221-1271
Listed By:
Zack Kaufman · License #01902869
(559) 256-2448
Source:
Moodyscre
Added: May 28
Changed: Sep 10
Last Checked: Sep 12 at 6:46AM
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 Colliers | Fresno
Investment Insights
Based on property information with market context.
Willow Plaza is an 81,079 SF grocery-anchored shopping center offered for sale. The property is 100% occupied and is anchored by Smart & Final Extra! and Dollar Tree, with a necessity-based tenant mix that includes U.S. Army Recruiting, Cricket Wireless, and multiple food and service operators.
The center is located at the signalized corner of Shaw and Willow Avenues in Clovis, California, with high visibility and access at a heavily traveled intersection. Willow Plaza offers ample parking and multiple ingress/egress points.
The property sits just off Highway 168, an east-west corridor connecting Clovis to the broader Fresno metro, and is minutes from California State University, Fresno.
The center is located at the signalized corner of Shaw and Willow Avenues in Clovis, California, with high visibility and access at a heavily traveled intersection. Willow Plaza offers ample parking and multiple ingress/egress points.
The property sits just off Highway 168, an east-west corridor connecting Clovis to the broader Fresno metro, and is minutes from California State University, Fresno.
Key Highlights
- 81,079 SF grocery‑anchored shopping center in Clovis, CA
- Anchored by Smart & Final Extra! and Dollar Tree
- 100% occupied with tenants including U.S. Army Recruiting and Cricket Wireless
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,102,472
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$22,049,440
$22.0M
Cap Rate 7%
$15,749,600
$15.7M
Cap Rate 9%
$12,249,689
$12.2M
Market Conditions
NOI Build-Up for 81,079 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.70M $21.00/SF
− Vacancy
−$127.7K −$1.58/SF
EGI
$1.57M $19.43/SF
− OpEx
−$472.5K −$5.83/SF
NOI
$1.10M $13.60/SF
Area
Clovis, CA
Vacancy
7.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$22,049,440
Cap Rate 7%
$15,749,600
Cap Rate 9%
$12,249,689
Alternative Uses
Best Use
Retail
$15.75M
$13.78M – $18.37M
NOI $1,102,472 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$20.43M
$17.87M – $23.83M
NOI $1,429,844 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
104,648 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
356k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 26%
Home Improvements & Furnishings 17%
Groceries 9%
The Home Depot
Home Improvements & Furnishings
60,178 visits/mo
0.2 miles
McDonald's
Dining
38,681 visits/mo
0.5 miles
Smart & Final
Groceries
32,415 visits/mo
0.1 miles
Jack in the Box
Dining
27,376 visits/mo
0.5 miles
dd's DISCOUNTS
Shops & Services
27,238 visits/mo
0.5 miles
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Willow Plaza is an 81,079 SF grocery-anchored shopping center anchored by Smart & Final Extra! and Dollar Tree.
Where is this shopping center located?
The property is located at 720 W Shaw Ave Clovis, CA.
What is the asking price?
The asking price for this property is $17,200,000.
What are key features of this property?
This property features: 81,079 SF grocery‑anchored shopping center in Clovis, CA; Anchored by Smart & Final Extra! and Dollar Tree; 100% occupied with tenants including U.S. Army Recruiting and Cricket Wireless
