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Airport Plaza Shopping Center REDUCED $1695000

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Airport Plaza Shopping Center REDUCED $1695000 FOR SALE > RETAIL STRIP CENTER Airport Plaza Shopping Center FRESNO, CALIFORNIA REDUCED $1,795,000 $1,695,000 Property Features > Strong Employment Generators. > HWY 180 & HWY 168 Nearby. > Close to Fresno Yosemite International Airport. > McLane High School/VA Hospital on Clinton Ave. > Seller Leaseback Available. CHESTNUT AVE > Fresno 5th Largest City in California! > Local Management Available. CLINTON AVE AGENT: STEVE RONTELL COLLIERS INTERNATIONAL 559 221 1271 | EXT. 113 7485 N. Palm Avenue, #110 [email protected] Fresno, CA 93711 License No. 00932510 www.colliers.com/fresno FOR SALE > Property Summary Location: Southwest corner of Clinton and Chestnut Avenues, Fresno, CA (“Airport Area”) APN: 447-221-55, County of Fresno Parcel Size: 35,276.32 SF (County Records) Building Size: 9,577 SF (County Records) Year of Construction: 1988 Zoning: CC - Commercial Community Customer Traffic: Approximately 35,000 cars per day, intersection. Fresno Yosemite SHIELDS AVE International Customer Airport Demographics: Population Avg. HH Income Daytime Pop. 1 Mile: 15,592 $51,411 4,074 41 2 Miles: 67,287 $47,215 15,765 3 Miles: 166,818 $47,252 42,524 CLINTON AVE 4 Miles: 280,449 $51,791 90,428 5 Miles: 401,089 $58,746 138,511 Asking Price: $1,795,000 MAPLE AVE MCKINLEY AVE CHESTNUT AVE CHESTNUT CSU Fresno Fashion SHAW AVE Sierra 41 Fair Mall 168 Vista Mall ASHLAN AVE Manchester McLane Mall High Fresno Veteran School Yosemite Hospital Fresno CLINTON AVE International City Airport College MCKINLEY AVE FOWLER AVE FOWLER Tower District 180 Community Belmont Golf County Club Medical Center Roosevelt UCSF High School PEACH AVE PEACH KINGS CANYON Downtown Sunnyside Fresno High School Sunnyside Golf 99 County Club CEDAR AVE CEDAR AVE CHESTNUT AVE CLOVIS AGENT: STEVE RONTELL COLLIERS INTERNATIONAL 559 221 1271 | EXT. 113 7485 N. Palm Avenue, #110 [email protected] Fresno, CA 93711 License No. 00932510 www.colliers.com/fresno FOR SALE > Airport Plaza Employment Generators Nearby AIRPORT PLAZA SHOPPING CENTER | FRESNO, CA Fresno was founded in 1872. It was incorporated in 1885. The city has since become an economic hub of Fresno County and the San Joaquin Valley, with much of the surrounding areas in the Metropolitan Fresno region predominantly tied to large-scale agricultural production. With a census estimated 2019 population of 527,438, Fresno is the fifth-most populous city in California, and the 34th-most populous city in the nation. www.fresno.gov www.fresnoedc.com www.fresnochamber.com www.playfresno.org Fresno Yosemite International Airport is a joint civil-military airport in Fresno, California. It is the primary commercial airport for the San Joaquin Valley and three national parks: Yosemite, Sequoia and Kings Canyon. It offers scheduled passenger flights to several major airline hubs in the United States and international service to Mexico. The airport handled almost 1,300,000 passengers in 2019. The Fresno Air National Guard Base on the southeast corner of the airport is home to the 144th Fighter Wing of the California Air National Guard. Other government and military operators with facilities at the airport include the California Army National Guard, the California Highway Patrol, the Fresno County Sheriff’s Office, and the Fresno Police Department. The airport is located about one mile away from Freeway 180, with vehicles using Peach Avenue to connect between the airport and the freeway. Millions of square feet of professional office, office warehouse and industrial buildings surround the airport with thousands of employees. www.flyfresno.com VA Hospital/Veterans Affairs California Health Care System was founded in 1950 and is located on Clinton Avenue west 2.5 miles from Airport Plaza. There are over 1,000 related employees, doctors and staff with 114 beds and 60 rehabilitation beds on an 18.5 acre campus. www.fresno.va.gov McLane High School was built in 1959, is a public high school of the Fresno Unified School District located in Fresno at Clinton and Chestnut Avenues one mile west of Airport Plaza Shopping Center. It has 1,812 students in grades 9th through 12th. It has a student teacher ratio of 23.42 to 1. It is a AVID high school facility that also includes a large football stadium. www.fresnounifiedorg/schools/mclane Fresno Airport Office and Industrial Market. Airport Plaza is close to over 1,700,000 square feet of profes- sional office space and 10,000,000 SF in industrial warehouse buildings creating a large daytime employment base. Fresno Southeast Growth Area covers 14 square miles with approximately 45,000 existing and future homes consisting of approximately projected 110,000 residents. The recent Freeway 180 extension has been a large part of the catalyst of the growth connecting the Airport Area/Southeast Fresno/Sunnyside to the rest of the Fresno/Clovis Market. The future Fancher Creek Industrial Park and regional power center is expected to spur further growth. www.calthorp.com www.fresno.gov www.sunnyside4u.org AGENT: STEVE RONTELL COLLIERS INTERNATIONAL 559 221 1271 | EXT. 113 7485 N. Palm Avenue, #110 [email protected] Fresno, CA 93711 License No. 00932510 www.colliers.com/fresno FOR SALE > Financial Information AIRPORT PLAZA SHOPPING CENTER | FRESNO, CA 4770 E. RENT LEASE LEASE CLINTON MONTHLY SQUARE PER RENT START EXP. DEPOSITS AVENUE TENANT RENT FEET SF/MO INCREASES DATE DATE OPTION(S) HELD 101 Lety’s Mexican Restaurant $2,983.51 2,400 $1.21/mo 3/1/2021: 3/01/2007 3/28/2028 N/A $0.00 $3,073.01 3/1/2022: $3,165.20 3/1/2023: $3,260.16 3/1/2024: $3,357.96 3/1/2025: $3,458.70 3/1/2026: $3,562.46 3/1/2027: $3,669.33 104 Herbal Life $900.00 800 $1.13/mo 8/1/2021: 4/01/2020 7/31/2025 1-5 yr. $1,000.00 $840.00 5% Annual 8/1/2022: Increases $880.00 8/1/2023: $920.00 8/1/2024: $960.00 105 Olga Beauty Salon $1,080.00 1,350 $0.80/mo 4/1/2005 3/31/2021 N/A $875.00 106 Seller Leaseback $825.00 660 $1.25/mo N/A 6 mo. N/A N/A 107 Smoke-N-Vape Smoke $556.00 540 $1.03/mo 6/1/2018 5/31/2021 N/A $556.00 Shop 108 - 109 Seller Leaseback $2,500.00 2,000 $1.25/mo N/A 6 mo. N/A N/A 110 All Inked Up $950.00 800 $1.19/mo 1/2/2010 mo-to-mo N/A $800.00 111 #1 Barber Shop $743.00 650 $1.14/mo 6/3/2008 6/30/2020 $650.00 TOTALS $10,537.51 9,200 SF Total Proforma Monthly Rent $ 10,537.51 x 12 Months • Locally Managed. Pro Forma Annual Rent $126,450.12/yr. • NNN approximately $0.20 SF/Mo. currently. Minus 3% Vacancy Factor <$ 3,793.50> • Seller will leaseback #106 and #108-109 at $1.25 NNN Minus 2% Reserves <$ 2,529.00> for 6 months from close of escrow. Adjusted Total Rent $120,127.62 Price/Cap Rate - 7.1% $1,695,000 (N.A.P.) (N.A.P.) This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, war- ranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the informa- tion. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved. Disclosures: Seller is also a licensed real estate broker in the State of California. Fast Strip and Carniceria Colima are not a part of the Property for sale..
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