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Shops at The Marketplace at El Paseo 6451 N Riverside Dr 11,000 SF 100% Leased 4-Star Retail Building Fresno, CA 93722 $7,854,000 ($714/SF) 6% Cap Rate
Investment Highlights
- Stable Strip Center – ±11,000 SF, multi-tenant strip center
- Strong Income Growth – excellent income growth projected to be more than $108,000 (23%) over the anticipated hold period
- Long Term Leases – All tenants enjoy long-term leases with an average weighted lease term of approximately nine years
Executive Summary
- Stable Strip Center – ±11,000 SF, multi-tenant strip center featuring tenants including, Capriotti’s Sandwich Shop, The Joint Chiropractic, Roll’em Up Taquitos, Lux Floral, Luxe Salon, Teriyaki Madness, and Paris Baguette
- NNN & Admin Fees – All of the tenants are on NNN leases plus 10-15% administration fee recapture resulting in minimal, if any, income slippage
- Long Term Leases – All tenants enjoy long-term leases with an average weighted lease term of approximately nine years, providing an investor a low maintenance investment for the foreseeable future
- Strong Income Growth – Despite being 100% leased, Shops at the Marketplace at El Paseo enjoys excellent income growth projected to be more than $108,000 (23%) over the anticipated hold period
- Synergistic Co-Anchors – The Marketplace at El Paseo is anchored by Target and Burlington and includes a variety of national and local retailers including, Floor & Décor, Regal Cinemas, Bath & Body Works, Ross, Marshalls, Old Navy, Hobby Lobby, Olive Garden, Petco, Tesla Motor Charging Station, and ULTA Beauty
- Freeway Access & Visibility – Highly visible and provides ease of access from SR-99 (±81,469 cars per day), the Marketplace at El Paseo is arguably the premier super regional center in the trade area that serves a population of more than 530,000 in its trade area
- NNN & Admin Fees – All of the tenants are on NNN leases plus 10-15% administration fee recapture resulting in minimal, if any, income slippage
- Long Term Leases – All tenants enjoy long-term leases with an average weighted lease term of approximately nine years, providing an investor a low maintenance investment for the foreseeable future
- Strong Income Growth – Despite being 100% leased, Shops at the Marketplace at El Paseo enjoys excellent income growth projected to be more than $108,000 (23%) over the anticipated hold period
- Synergistic Co-Anchors – The Marketplace at El Paseo is anchored by Target and Burlington and includes a variety of national and local retailers including, Floor & Décor, Regal Cinemas, Bath & Body Works, Ross, Marshalls, Old Navy, Hobby Lobby, Olive Garden, Petco, Tesla Motor Charging Station, and ULTA Beauty
- Freeway Access & Visibility – Highly visible and provides ease of access from SR-99 (±81,469 cars per day), the Marketplace at El Paseo is arguably the premier super regional center in the trade area that serves a population of more than 530,000 in its trade area
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,000 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2024
Price
$7,854,000
Price Per SF
$714
Cap Rate
6%
NOI
$471,247
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
1.60 AC
Zoning
CR - Commercial Regional
Nearby Major Retailers
1 of 7
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Shops at The Marketplace at El Paseo | 6451 N Riverside Dr
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