1830 Clovis Ave Clovis, CA 93612
- Strip malls
- 67,020 SF
- 5.41 lot acres
Current Use by Public Records
- Certus CrossFit / Gym
Property Details for 1830 Clovis Ave
- Year built
- 1964
- Construction
- TILT-UP CONCRETE
- Lot size
- 5.41 lot acres
- Property size
- 67,020 SF
- Zone code
- C2
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 497-223-11
- APU
- 49722311
Description
This exceptional investment opportunity presents the leasehold interest in the Bonanza Shopping Center, a 69,623-square-foot grocery-anchored shopping center located in Clovis, California. Situated on 6.01 acres at the southwest corner of Clovis Avenue and Shaw Avenue, this 100% occupied center boasts a diverse mix of 16 tenants providing essential daily needs and services. The property benefits from a strong anchor tenant, a high-performing Grocery Outlet, complemented by recession-resistant tenants such as Octapharma Plasma and The Salvation Army. Other tenants include a variety of fitness, restaurant, and personal care businesses, catering to the thriving community. Clovis is experiencing significant population growth, exceeding 20% since 2010, and demonstrates strong demographics with an average household income of $97,984 within a three-mile radius. This prime location, coupled with the center's resilient tenant mix, offers a compelling investment opportunity with a current NOI of $1,028,044 and an 8.16% cap rate. The ground lease extends until January 31, 2057, providing long-term stability. The asking price is $12,600,000, representing a price per square foot of $180.97. This is a Core+ leasehold investment with significant upside potential in a rapidly expanding market.
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
- Clovis
- County
- Fresno
- State
- California
- Longitude
- -119.701
- Latitude
- 36.8095
- CBSA code
- 23420
- CBSA name
- FRESNO, CA METROPOLITAN STATISTICAL AREA
