2971 Maroa Ave Fresno, CA 93704

Property Details for 2971 Maroa Ave

Year built

1968

Construction

WOOD

Lot size

0.79 lot acres

Property size

7,924 SF

Zone code

CC

Property type

Office buildings

APN

443-080-15

APU

44308015

Description

This exceptional freestanding office building, totaling 8,219 square feet, presents a compelling investment opportunity in Fresno, California. Located at 2971 N Maroa Ave, this single-story, 1968-built Class B property sits on a 0.66-acre lot (APN 443-080-15) and is zoned CC - Commercial - Community. Currently housing four tenants, the building offers a modified lease structure with a 49.94% occupancy rate (as of May 11, 2020). The current NOI is $47,217, with a pro-forma NOI of $62,127, yielding a 7.00% cap rate and a pro-forma cap rate of 9.20%. The asking price is $675,000, translating to $82.13 per square foot. The property boasts 54 parking spaces, plus 129 feet of street frontage, providing ample parking for tenants and visitors. The four separately metered office suites offer various configurations and sizes, ranging from approximately 1,224 square feet to 2,890 square feet, making them easily adaptable to diverse business needs. Each unit features high-speed internet access and secure entrances. The building's convenient location off CA-41, coupled with its excellent visibility and ample parking, makes it an attractive option for businesses seeking a well-maintained and easily accessible space. This property presents a strong value-add opportunity for an owner-user or investor seeking a stable income stream with significant upside potential through increased occupancy and rent growth. The existing tenant mix is characterized by long-term leases and low turnover, minimizing management and maintenance requirements.

Location Insight

City

Fresno

County

Fresno

State

California

Longitude

-119.8

Latitude

36.7773

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments