Bonanza Shopping Center 4 Retail Properties Offered at $11,750,000 in Clovis, CA
INVESTMENT HIGHLIGHTS
- RECESSION-RESISTANT TENANT MIX ANCHORED BY TOP-PERFORMING GROCERY OUTLET
- HIGH-QUALITY ASSET AT ATTRACTIVE BASIS
- PRIME LOCATION IN HIGH-GROWTH CALIFORNIA MARKET
- DIVERSE TENANT MIX OF DAILY NEEDS AND SERVICES
EXECUTIVE SUMMARY
Institutional Property Advisors (“IPA”) is pleased to present the opportunity to acquire the leasehold interest in Bonanza Shopping Center (the “Property” or “Bonanza”), a 69,623 square foot grocery-anchored shopping center located at the southwest corner of Clovis Avenue and Shaw Avenue in Clovis, California.
Bonanza Shopping Center is a dominant grocery-anchored shopping center situated on 6.01 acres and was built in 1963. Major tenants include Grocery Outlet, Octapharma Plasma, The Salvation Army, and Certus Cross Fit.
The Property provides daily and essential needs retail services to its densely populated trade area, which is comprised of 128,794 people earning an average household income of $97,984 within a three-mile radius. With limited shopping center competition nearby, Bonanza is one of the most visited neighborhood centers within its submarket, as evidenced by its occupancy rate of 100%.
Bonanza Shopping Center is a dominant grocery-anchored shopping center situated on 6.01 acres and was built in 1963. Major tenants include Grocery Outlet, Octapharma Plasma, The Salvation Army, and Certus Cross Fit.
The Property provides daily and essential needs retail services to its densely populated trade area, which is comprised of 128,794 people earning an average household income of $97,984 within a three-mile radius. With limited shopping center competition nearby, Bonanza is one of the most visited neighborhood centers within its submarket, as evidenced by its occupancy rate of 100%.
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PROPERTY FACTS
| Price | $11,750,000 |
| Price / SF | $176.61 / SF |
| Sale Condition | Ground Lease (Leasehold) |
| Cap Rate | 8.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 66,529 SF |
| Total Land Area | 12.49 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 699 E Shaw Ave, Clovis, CA 93612 | Retail | 1,200 SF | - | - |
| 1752 Clovis Ave, Clovis, CA 93612 | Retail | 13,409 SF | 2006 | - |
| 1828-1830 Clovis Ave, Clovis, CA 93612 | Retail | 20,000 SF | 1963 | - |
|
Bonanza Shopping Center
1848-1928 Clovis Ave, Clovis, CA 93612 |
Retail | 31,920 SF | 1964 | - |
