Available For Sale - Retail

5,125 SF | Show Pricing $

LISTED BY

Jared Ennis
Central CA Commercial, 559-705-1000

AVAILABILITY DETAILS

Size
5,125 SF
Price/SF
Show Pricing $
Listing ID
SA532779
Notes
100% Leased Investment Opportunity: Prime Pollasky & 5th Street Corner location in Old Town Clovis offering ±5,200 SF of multi-tenant retail shop spaces on ±0.12 acres. Offers (3) easy-to-rent retail spaces leased to (2) long-term tenants - including Madeline's Bridal & Maxwell House Antiques - on Modified Gross MTM leases. Madeline's Bridal Boutique has proudly served customers for 67 years, establishing its presence at this specific location for the past 14 years. The first-class recent remodel performed by the tenants in suites 457 & 481 includes brand-new hard-surface flooring throughout, clean and upgraded restrooms, crown molding throughout, updated energy efficient features, LED lighting, fresh interior/exterior paint (2) 5 year-old HVAC's, & new coating on roof with zero leaks over the recent 5-day consecutive downpour. The property sits comfortably in Clovis' primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Great visibility, convenient parking & easy access to CA-168 on/off ramps. Many front parking spaces available, and excellent existing corner signage.



Value-add opportunity with actual rents of $94,416/year collected (6.91% CAP rater) plus upside potential. After addressing the under-market rent of (1) tenant and extending the leases past their MTM status, the annual income can be $109,200/year (15.67% increase) providing a proforma 8.42% CAP rate. Unique investment offering easy-to-rent spaces within an under-built market offering a strong need for these type of units. The deal offers a 10.02% cash-on-cash return when leveraged with 30% down, producing a 1.56 DCR!
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jared Ennis, Central CA Commercial
BRE# 01945284