190 Van Ness Ave Fresno, CA 93701
- Automotive properties
- 0.07 lot acres
Current Use by Public Records
- The Accident Guys / Personal Injury Attorney
- Quick Plates Vehicle Registration Service / Auto Tag Agency
Property Details for 190 Van Ness Ave
- Lot size
- 0.07 lot acres
- Zone code
- RS5
- Property type
- Automotive properties
- APN
- 459-311-02
- APU
- 45931102
Description
This exceptional investment opportunity presents a 12-unit, single-story office building located at 190 N Van Ness Ave, Fresno, CA 93701. The property, totaling 3,747 square feet on an 11,775 square foot lot, boasts a strong 92% occupancy rate with 12 tenants. Built in 1966 and completely remodeled in early 2023, the building features two structures and is classified as a Class B property. The current asking price is $698,000, reflecting a 6.65% cap rate and a pro-forma cap rate of 6.66%. The property's net rentable area is 2,915 square feet, with a price per square foot of $186.28 and a price per unit of $58,167. The lease type is gross, and rent bumps are in place. The property includes one parking space per unit, gated parking, and gated access to offices and common areas. Fully automated access is also available. Further enhancing its value, the building features fully owned solar panels added in August 2024. The property is fully ADA compliant and zoned NMX (with additional parking zoned RS-5). This stabilized investment offers significant upside potential due to the lack of comparable individual office suites in the area and the absence of rent control, allowing for market-rate rent increases. The property is ideal for a variety of tenants, including those in beauty services, tech, legal, and insurance. Financial details are available upon request.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $450,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $450,000
- 6.5%
- $490,000
- 7%
- $475,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $465,000
- Geo Method
- $500,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $425,000
- Retail
- $545,000
- Mixed-Use
- $465,000
- Hospitality
- $400,000
- Educational
- $490,000
- Residential Income
- $525,000
- Energy
- $490,000
- Income-Based Land
- $455,000
- Food Service
- $440,000
Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.798
- Latitude
- 36.7457
- CBSA code
- 23420
- CBSA name
- FRESNO, CA METROPOLITAN STATISTICAL AREA
