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Prospero Building - 635 Fairfield Dr Merced 635 Fairfield Dr 23,341 SF 4% Leased Retail Building Merced, CA 95348 $2,800,000 ($119.96/SF) 6.10% Cap Rate
Investment Highlights
- 7,676 SF fully renovated commercial retail condominium
- Strong Tenant Commitment - Brand new 15-year Triple Net (NNN) lease
- Ideal investment for 1031 exchange buyers, private investors, family offices, and passive income portfolios
- 100% leased to the Merced County Department of Workforce Investment
- Scheduled rental increases beginning in Year 3
- Adjacent to the 53-acre Marketplace Merced redevelopment and The Shoppes at Merced
Executive Summary
Here is an opportunity to acquire a "LOCAL" Government-Leased Retail Investment with a brand new 15-Year (NNN) lease in-place! This is a fully renovated 7,676-square-foot modern commercial retail condominium strategically located in the heart of Merced's rapidly revitalizing retail corridor. Currently occupied by the Merced County Department of Workforce Investment, providing investors with long-term, predictable cash flow backed by a government agency tenant. The lease structure offers some landlord responsibilities while featuring scheduled rental increases beginning in Year 3, providing steady income growth throughout the lease term. Positioned within one of Merced's premier regional retail destinations, the property benefits from its location between Marketplace Merced (formerly the Merced Mall) and The Shoppes at Merced. The surrounding 53-acre grocery-anchored regional shopping center is undergoing a significant redevelopment, bringing new retailers, renewed consumer activity, and long-term investment into one of the city's most prominent commercial corridors. The property is in a highly visible location with multiple points of ingress and egress, abundant parking, and exposure to thousands of vehicles each day. This offering represents a rare opportunity to acquire a stabilized, government-occupied investment featuring a long-term lease, passive management structure, and exceptional positioning within one of California's fastest-growing Central Valley markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
23,341 SF
Building Class
C
Year Built/Renovated
1969/2026
Price
$2,800,000
Price Per SF
$119.96
Cap Rate
6.10%
NOI
$170,800
Percent Leased
4%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
1.96 AC
Zoning
P-D - Planned Development, intended to promote creativity in building design, flexibility in permitted land uses, innovation in development concepts.
Parking
200 Spaces (25.98 Spaces per 1,000 SF Leased)
Frontage
184’ on Fairfield Dr
Amenities
- Tenant Controlled HVAC
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Public Administration
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Merced County is county located in the heart of the San Joaquin Valley (also known as the Central Valley) of California. As of the 2010 United States Census, the population was 255,793, up from 210,554 at the 2000 census and the total area of the county is approximated 1,980 square miles.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Public Administration | - | $9.99 | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 236-220-016 | Total Assessment | $1,420,146 |
| Land Assessment | $1,420,146 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
236-220-016
Land Assessment
$1,420,146
Improvements Assessment
$0
Total Assessment
$1,420,146
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
Prospero Building - 635 Fairfield Dr Merced | 635 Fairfield Dr