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Value Add Grocery Anchored Community Center 5418-5422 N Blackstone Ave 130,769 SF 92% Leased Retail Building Fresno, CA 93710 $17,500,000 ($133.82/SF) 7% Cap Rate
Investment Highlights
- Priced Below Replacement Cost at $134/sf
- Value Add through Lease Up of Vacant former Drive-Thru Restaurant
- Dense Infill Area with Over 382,000 People Within a 5-Mile Radius
- FoodMaxx Sales Rank #1 of 17 Save Mart/FoodMaxx Stores in Fresno-Clovis
- Over 78% of the GLA is Occupied by National, Regional or Franchised Brands
Executive Summary
Commercial Retail Associates, Inc. is pleased to have been selected as the exclusive listing agent for the sale of the Blackstone-Barstow Center, a high-performing grocery anchored community shopping center located at the signalized high-traffic intersection of Blackstone and Barstow Avenues in Fresno, California. The center is comprised of ±130,769 square feet of commercial space situated on seven separate tax parcels totaling ±11.22 acres of land and is 97.4% leased to 8 tenants with over 78% of the GLA being occupied by national, regional or franchised tenants. The subject property is well-positioned on a stretch of North Blackstone Avenue that has a dense core of retail and commercial buildings. Neighboring tenants at or near the intersection include Target, Smart & Final, Burlington, Dollar Tree, AutoZone, Guitar Center, Chevron, McDonald’s, Taco Bell, Panda Express, and several national car dealerships and national hotel chains. This offering presents an investor with an opportunity to acquire a successful community shopping center located in one of California’s largest cities.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
130,769 SF
Building Class
B
Year Built
1974
Price
$17,500,000
Price Per SF
$133.82
Cap Rate
7%
NOI
$1,225,000
Percent Leased
92%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
11.22 AC
Opportunity Zone
Yes
Amenities
- Pylon Sign
Space Availability
- Space
- Size
- Space Use
- Position
- Available
5815 SF is available.
| Space | Size | Space Use | Position | Available |
| 5418-8 | 5,815 SF | Retail | In-Line | Now |
5418-8
| Size |
| 5,815 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
5418-8
| Size | 5,815 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
5815 SF is available.
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,578,307 | |
| Land Assessment | $2,989,396 | Total Assessment | $7,567,703 |
Property Taxes
Parcel Numbers
Land Assessment
$2,989,396
Improvements Assessment
$4,578,307
Total Assessment
$7,567,703
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Value Add Grocery Anchored Community Center | 5418-5422 N Blackstone Ave
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