255 El Paso AveFresno, CA 93711

Property Details for 255 El Paso Ave

Year built

2001

Construction

TILT-UP CONCRETE

Lot size

3.66 AC

Property size (Sq ft)

92,446 SF

Zone code

CR

Property type

Retail properties

Property subtype

Retail space

APN

303-670-14S

APU

30367014S

Description

This exceptional investment opportunity presents a freestanding, 89,080-square-foot Fashion Furniture store in Fresno, California. Located at 255 W El Paso Ave, 93711, this property sits on a 3.66-acre lot and boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $1,278,298. The property is subject to a 15-year absolute NNN lease with 14 years remaining, featuring a tenant, Fashion Furniture, with a proven 60-year operating history and a personal and corporate guaranty. Rent increases annually at 2.5%, ensuring consistent income growth. The lease includes one 5-year renewal option. This prime retail location benefits from its adjacency to Sprouts and Ross, and its proximity across the street from Lowe's and Sam's Club. The area is characterized by a high concentration of Class A retail space (over 2M+ SF) and strong demographics, with average household incomes within a 3-mile radius exceeding $116,476. Numerous nearby shopping centers anchored by national retailers like Costco, Target, Kohl's, Best Buy, Dick's Sporting Goods, Trader Joe's, and In-N-Out contribute to significant daily foot traffic. The asking price is $15,979,000, representing a price per square foot below replacement cost at $179.38. This is a rare opportunity to acquire a high-performing, net-leased retail asset in a thriving retail corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $29,827,078

  6.5%

  $27,532,686

  7%

  $25,566,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $34,255,420

  Geo Method

  $64,975,968

• Alternative Use

  Use

  Valuation

  Residential

  $23,224,852

  Hospitality

  $21,273,840

  Educational

  $17,699,584

  Medical

  $18,308,300

  Retail

  $27,532,686

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.8452

Longitude

-119.795

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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