100% Leased Investment Opportunity: Prime Shields & Brawley Corner location offering ±7,000 SF of multi-tenant retail shop spaces on ±0.537 acres in the center of Fresno, CA. Offers (4) easy-to-rent retail spaces leased to long-term tenants - including Papa Murphy's & Total PCS - on professionally drafted Triple Net leases. The property sits comfortably in Fresno’s primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Located in a very thirsty market for Retail spaces due to just over 15 new SFR developments underway in West Fresno (0.9% vacancy per CoStar). Great visibility, convenient parking & easy access to CA-99 on/off ramps. Many front parking spaces available, and excellent existing corner signage. The value-add opportunity consists of addressing the under-market rent of (3) tenants, and experiencing (1) lease extension over the next 6-12 months. Value-add opportunity with actual rents of $96,240/year collected plus upside potential. After addressing the undermarket rents, the annual income is $112,680/year (117% upside). Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Papa Murphy's spent TI’s to improve the space and signed a 5-year lease with a 10% rent bump (every term) occurring 8/2022, then escalating to $1.45/SF at the end of the options. Total PCS signed a lease during the 2020 pandemic featuring $50/month increase per annum escalating to $1.14/SF at the end of the term. A Sky Threading & Boutique spent TI’s to improve the space and signed a 5-year lease with 3% rent bumps per annum escalating to $1.41/SF at the end of the term. India Bazaar (Sandhu/Kanf) spent TI’s to improve the space and signed a 5-year lease with 3% rent bumps per annum escalating to $1.24/SF at the end of the term.
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Retail Space
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