238 Fresno StFresno, CA 93701

Property Details for 238 Fresno St

Year built

1956

Construction

TILT-UP CONCRETE

Lot size

0.13 AC

Property size (Sq ft)

2,650 SF

Zone code

NMX

Property type

Office properties

Property subtype

Office buildings

APN

459-271-19

APU

45927119

Description

This exceptional redevelopment opportunity presents a 2,650 square foot building situated on a 0.39-acre lot in Fresno, CA. Located at 238 N Fresno St, this property boasts a prime location directly across from Fresno Community Hospital. The existing building, constructed in 1956, is currently vacant, offering a blank canvas for a variety of uses. The property comprises three separate parcels and is zoned NMX (Neighborhood Mixed Use), allowing for residential, retail, office, and industrial development. The land value is $30 per square foot, and the asking price for the entire property is $489,000. This presents a unique investment opportunity within Census Tract 5.02, designated as an Opportunity Zone, providing potential tax advantages for investors under the Tax Cuts and Jobs Act of 2017. The property's central location and flexible zoning make it an ideal candidate for adaptive reuse or new construction, catering to a wide range of development possibilities. Further details are available in the offering memorandum.

• CAP approach

  CAP return

  Valuation

  6%

  $375,681

  6.5%

  $346,782

  7%

  $322,012

• Comparable approach

  Method

  Valuation

  Relative Method

  $351,894

  Geo Method

  $739,112

• Alternative Use

  Use

  Valuation

  Residential

  $430,010

  Hospitality

  $393,887

  Educational

  $327,709

  Medical

  $338,980

  Retail

  $509,770

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7457

Longitude

-119.781

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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