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616 N Fulton St 3,220 SF 100% Leased Retail Building Fresno, CA 93728 $425,000 ($131.99/SF) 6.64% Cap Rate
Executive Summary
Incredible investment opportunity in Fresno's Tower District. This property is 100% occupied with gross monthly rents totaling $3,650.
There are two offices downstairs and a 2 bedroom, 1 bathroom apartment upstairs. Ample parking lot includes 6-10 stalls.
616 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
618 N Fulton St - Gross Rent $1,200/mo - 2 Bedroom 1 Bathroom Apartment
620 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
Owner's current monthly expenses include:
$78 - Trash/water/sewer
$383.33 - Insurance
$147.91 - PG&E (LL responsible for 25%. this is the average based on last year's PG&E)
$200 - Repairs/Maintenance
$237.50 - Property Tax(net after reimbursement for cell tower reimbursement)
Annual NOI - $28,239
6.64% CAP Rate
Cell tower on property does not provide income. Seller currently pays property tax for cell tower and is reimbursed by that company for property tax portion of cell tower.
There are two offices downstairs and a 2 bedroom, 1 bathroom apartment upstairs. Ample parking lot includes 6-10 stalls.
616 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
618 N Fulton St - Gross Rent $1,200/mo - 2 Bedroom 1 Bathroom Apartment
620 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
Owner's current monthly expenses include:
$78 - Trash/water/sewer
$383.33 - Insurance
$147.91 - PG&E (LL responsible for 25%. this is the average based on last year's PG&E)
$200 - Repairs/Maintenance
$237.50 - Property Tax(net after reimbursement for cell tower reimbursement)
Annual NOI - $28,239
6.64% CAP Rate
Cell tower on property does not provide income. Seller currently pays property tax for cell tower and is reimbursed by that company for property tax portion of cell tower.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,220 SF
Building Class
C
Year Built
1980
Price
$425,000
Price Per SF
$131.99
Cap Rate
6.64%
NOI
$28,239
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.25
Lot Size
0.30 AC
Opportunity Zone
Yes
Zoning
TWR - Commercial office/retail use
Parking
5 Spaces (1.55 Spaces per 1,000 SF Leased)
Frontage
47’ on N Fulton St
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $212,241 | |
| Land Assessment | $345,073 | Total Assessment | $557,314 |
Property Taxes
Parcel Numbers
Land Assessment
$345,073
Improvements Assessment
$212,241
Total Assessment
$557,314
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616 N Fulton St
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