6451 N Riverside Dr - Retail FOR SALE


Fresno, CA 93722
$8,200,000 USD
949-725-8473
6451 N Riverside Dr, Fresno, CA for Sale
$8,200,000 USD
Retail - FOR SALE
1/6
null | 5.75% Cap Rate

6451 N Riverside Dr
Fresno, CA 93722


HIGHLIGHTS

  • Stable Strip Center – ±11,000 SF, multi-tenant strip center
  • Long Term Leases – All tenants enjoy long-term leases with an average weighted lease term of approximately nine years
  • Strong Income Growth – excellent income growth projected to be more than $108,000 (23%) over the anticipated hold period

OVERVIEW

- 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

FOR SALE DETAILS

PRICE

$8,200,000 USD

PRICE/SF

$745 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shops at The Marketplace at El Paseo

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

CR

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

949-725-8473

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949-725-8473

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