406 Elm Ave Coalinga, CA 93210-2139
- Office buildings
- 5,140 SF
- 1.03 lot acres
Current Use by Public Records
- Coalinga DMV / Department Of Motor Vehicles
Property Details for 406 Elm Ave
- Year built
- 2004
- Construction
- WOOD
- Lot size
- 1.03 lot acres
- Property size
- 5,140 SF
- Property type
- Office buildings
- APN
- 072-143-21S
- APU
- 07214321S
Description
This exceptional Class A, 3,264 square foot office building in Coalinga, CA, presents a rare investment opportunity. Located at 406 E Elm Ave, this single-story structure, built in 2004 and extensively renovated in 2023, sits on a 1.3-acre lot. Currently leased to a single tenant under a modified 10-year lease commencing March 1, 2024, and expiring February 28, 2034, offering a strong remaining lease term of 9.3 years. The current annual rent is $13,000 per month, with a built-in 5% annual increase for the first two years and 3% annually thereafter. The tenant is investing $148,670 in improvements (commencing November 2023) to upgrade technology, computers, and HVAC systems. The property boasts a strong net operating income (NOI) of $117,022, resulting in an attractive 5.50% cap rate. The asking price is $2,127,000, translating to $651.65 per square foot. This stabilized investment offers a secure and lucrative return with a long-term, creditworthy tenant. The property's location in Fresno County, CA, zip code 93210, provides easy access to local amenities and transportation. This is a turnkey investment ideal for those seeking a stable, high-return asset with minimal management requirements.
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
- Coalinga
- County
- Fresno
- State
- California
- Longitude
- -120.357
- Latitude
- 36.1431
- CBSA code
- 23420
- CBSA name
- FRESNO, CA METROPOLITAN STATISTICAL AREA
