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    1830 Clovis Ave Clovis, CA 93612

    For Sale
    $12,600,000

    Grocery-anchored retail center; high growth market.

    Property size:
    69,623 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents the leasehold interest in the Bonanza Shopping Center, a 69,623-square-foot grocery-anchored shopping center located in Clovis, California. Situated on 6.01 acres at the southwest corner of Clovis Avenue and Shaw Avenue, this 100% occupied center boasts a diverse mix of 16 tenants providing essential daily needs and services. The property benefits from a strong anchor tenant, a high-performing Grocery Outlet, complemented by recession-resistant tenants such as Octapharma Plasma and The Salvation Army. Other tenants include a variety of fitness, restaurant, and personal care businesses, catering to the thriving community. Clovis is experiencing significant population growth, exceeding 20% since 2010, and demonstrates strong demographics with an average household income of $97,984 within a three-mile radius. This prime location, coupled with the center's resilient tenant mix, offers a compelling investment opportunity with a current NOI of $1,028,044 and an 8.16% cap rate. The ground lease extends until January 31, 2057, providing long-term stability. The asking price is $12,600,000, representing a price per square foot of $180.97. This is a Core+ leasehold investment with significant upside potential in a rapidly expanding market.

    Property Features for 1830 Clovis Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    69,623 SF
    Lot Size
    261,796 SF

    HighLights

    • Leasehold interest in a 69,623 square foot grocery‑anchored shopping center in Clovis, CA.
    • Recession‑resistant tenant mix anchored by a high‑performing Grocery Outlet, Octapharma Plasma, and The Salvation Army, plus diverse daily needs tenants.
    • Prime location in a high‑growth California market; Clovis has experienced over 20% population growth since 2010, with a $97,984 average household income within a 3‑mile radius.
    • 100% occupancy with 16 tenants, generating a Net Operating Income (NOI) of $1,028,044 and an 8.16% cap rate.
    • $12,600,000 asking price, $180.97 per square foot.
    • Ground lease expiring January 31, 2057.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Certus CrossFit Gym

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.7016451
    Latitude
    36.8098804

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    FAQs

    What type of property is this?
    Lifestyle center - Grocery-anchored retail center; high growth market.
    Where is this lifestyle center located?
    The property is located at 1830 Clovis Ave Clovis, CA.
    What is the asking price?
    The asking price for this property is $12,600,000.
    What are key features of this property?
    This property features: Leasehold interest in a 69,623 square foot grocery-anchored shopping center in Clovis, CA.; Recession-resistant tenant mix anchored by a high-performing Grocery Outlet, Octapharma Plasma, and The Salvation Army, plus diverse daily needs tenants.; Prime location in a high-growth California market; Clovis has experienced over 20% population growth since 2010, with a $97,984 average household income within a 3-mile radius.
    Request Owner's contact information
    1830 Clovis Ave Clovis, CA 93612
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1830 Clovis Ave Clovis, CA 93612
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