2304 Monterey St Fresno, CA 93721
- Warehouses
- 15,500 SF
- 0.86 lot acres
Current Use by Public Records
- Pombo Automotive & Truck / Auto Repair Shop
Property Details for 2304 Monterey St
- Lot size
- 0.86 lot acres
- Property size
- 15,500 SF
- Property type
- Warehouses
- Property subtype
- Mixed-use properties
Description
This exceptional investment opportunity presents a fully leased, ±15,500 square foot industrial property located at 2304 Monterey St, Fresno, CA 93721. The property consists of two freestanding buildings situated on a 0.86-acre lot, zoned DTN - Downtown Neighborhood. The main building encompasses approximately 14,000 square feet of warehouse space and 1,500 square feet of office/showroom area, featuring 13 ground-level loading doors (6 pull-through bays), 16-foot clear height, and 600 amps of 3-phase power. A secondary building adds approximately 5,000 square feet of warehouse space with five ground-level loading doors and a small office. The property boasts a fully fenced yard and ample paved area. Currently 100% occupied under a triple net (NNN) lease with Pombo's Fleet Service, the lease commenced November 1, 2023, and has a remaining term of approximately four years, expiring November 30, 2028. The current annual net operating income (NOI) is $145,000, yielding a 7.27% cap rate, projected to increase to 7.95% pro-forma and 8.6% by July 2026. The asking price is $1,995,000, translating to $128.71 per square foot. This property offers a strong value-add investment opportunity in a desirable location with limited competition, providing excellent access to major Fresno freeways. The tenant has occupied the property for over 45 years.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.779
- Latitude
- 36.7291
