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    319 Van Ness Ave Fresno, CA 93701

    Sponsored
    For Sale
    $790,000

    High-yield retail building, CA-180 exposure

    Property size:
    5,896 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 5,896 square foot multi-tenant retail building in Fresno, CA, presents a compelling value-add investment opportunity. Located on a 0.29-acre lot at 319 N Van Ness Ave (APN 443-184-20), this 1952-built property offers eight separate office spaces, averaging 900 square feet each. Currently, 44% of the space is leased to long-term tenants under gross lease agreements, generating an annual income of $45,600. A significant value-add potential exists through leasing the vacant units (three 575 sq ft spaces) and renegotiating existing leases to achieve a projected stabilized annual income of $96,342 within 6-12 months. This translates to a pro-forma NOI of $69,830 and an 8.84% pro-forma cap rate. The property boasts excellent visibility and accessibility, situated near CA-180 and CA-99 freeway on/off ramps. Each unit features multiple sinks, private restrooms, private entrances, and high-speed internet access. The building requires some cosmetic updates (paint and flooring) to maximize rental income. The property offers ample parking and is well-maintained, with a functional roof and HVAC systems. This investment presents a strong cash flow opportunity with significant upside potential, making it ideal for both owner-users and investors seeking a high return on investment. The current asking price is $790,000, with a current NOI of $21,460 and a current cap rate of 2.72%.

    Property Features for 319 Van Ness Ave

    General Information

    Property type
    Neighborhood centers
    Square Feet
    5,896 SF
    Lot Size
    12,632 SF

    Building Details

    Year Built
    1952

    HighLights

    • 8.84% projected cap rate and 11.42% projected cash‑on‑cash return after lease stabilization.
    • Projected annual rent of $96,000 ($16.34/SF/year).
    • Eight easily rentable, small office spaces.
    • Long‑term tenants with significant upside potential through lease‑up of vacant units.
    • Well‑maintained building with functional roof and HVAC systems.
    • High‑visibility freestanding building on Van Ness Ave.
    Property Profile Location Intelligence

    Current Use by Public Records

    Viareal Music School ... Music School

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.7992001
    Latitude
    36.7478422

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    FAQs

    What type of property is this?
    Neighborhood center - High-yield retail building, CA-180 exposure
    Where is this neighborhood center located?
    The property is located at 319 Van Ness Ave Fresno, CA.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: 8.84% projected cap rate and 11.42% projected cash-on-cash return after lease stabilization.; Projected annual rent of $96,000 ($16.34/SF/year).; Eight easily rentable, small office spaces.
    (559) 705-1000
    Request Owner's contact information
    319 Van Ness Ave Fresno, CA 93701
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    Fresno, CA 93701
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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
    319 Van Ness Ave Fresno, CA 93701
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