3838 1st St Fresno, CA 93726-4301

Property Details for 3838 1st St

Year built

1975

Construction

TILT-UP CONCRETE

Lot size

0.90 lot acres

Property size

8,371 SF

Zone code

O

Property type

Medical offices

Property subtype

Medical centers

APN

436-302-24

APU

43630224

Description

This 8,371-square-foot medical office building in Fresno, CA, presents a compelling owner-user or investment opportunity. Located at 3838 N First St, 93726, this 1975-built property boasts a prominent location between CA-99 and CA-41, offering excellent visibility and accessibility. The building features four quality suites with multiple entrances, allowing for flexible configurations to suit various needs. Approximately 6,680 square feet are currently available, divisible into spaces ranging from 825 to 4,064 square feet, and potentially offering up to 21 exam rooms, private offices, a break room, waiting/reception area, conference room, display area, and storage. Existing amenities include high-speed internet access, updated restrooms, ample parking, mature landscaping, and prominent signage. A portion of the building (1,691 square feet) is currently leased to a long-term tenant (Heiner Hearing Center) under a lease extending through 2024, providing immediate passive income. The property is zoned O and has an APN of 436-302-24. The asking price is $997,000 ($119.10/sq ft), with a current NOI of $111,960 and a pro-forma NOI of $125,700, representing a current cap rate of 11.23% and a pro-forma cap rate of 8.81%. This property is an excellent candidate for an SBA loan, offering significant value-add potential through leasing the available space or owner-occupancy. The building's established location, quality tenant mix, and ample parking further enhance its appeal.

Location Insight

City

Fresno

County

Fresno

State

California

Longitude

-119.772

Latitude

36.7875

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments