9471 N Fort Washington Rd - Freestanding FOR SALE


Fresno, CA 93730- Woodward Park
$26,067,000 USD
916-724-1326
9471 N Fort Washington Rd, Fresno, CA for Sale
$26,067,000 USD
Freestanding - FOR SALE
1/15
null | 7.5% Cap Rate

9471 N Fort Washington Rd
Fresno, CA 93730
Woodward Park


HIGHLIGHTS

  • 9-Individual Parcels with 5-Separate Buildings (Individual Building Sell off Opportunity)
  • Development Opportunity (0.99 Acre Parcel) on Hard Signalized Corner Sold together or Separately
  • Highly Visible Location Along One of Fresno's Main Thoroughfares (N Friant Road)
  • Tenants are on Triple-Net Leases

OVERVIEW

Riverview Shopping Center is a 108,425-square-foot multi-tenant neighborhood shopping center situated on 9 parcels totaling 11.50 acres in Fresno, California. The property is located at the signalized intersection of North Fort Washington Road and North Friant Road, which experiences a traffic volume of approximately 42,000 vehicles per day. Constructed in 2004, the shopping center is currently 92% occupied, with 31 tenants leasing 33 suites (some tenants occupy multiple suites). There are four vacant suites available, ranging in size from 1,400 to 2,800 square feet, totaling 8,720 square feet of vacant space. The property also generates additional rental income from a Texgreen clothing bin. Additionally, there is a undeveloped 0.99-acre parcel located at the prime hard corner of the shopping center that is being offered for $1,100,000. The additional land can be purchased with the shopping center or separately. Riverview Shopping Center has historically maintained a high occupancy rate, with several tenants having operated there for five years or more. The most recent lease, signed in February 2025, is with Tappan Tora Sushi Restaurant at a rental rate of $2.16 per square foot (PSF) on a triple-net (NNN) basis. The restaurant occupies 5,005 square feet. The average rental rate for the center is $2.15 PSF on a triple-net (NNN) basis, providing investors with confidence that current rental rates align with market value. All tenants are on NNN leases with staggered expiration dates. The center features a diverse and internet-resistant tenant mix, including: Restaurants: Woodward Restaurant, Starbucks, Panda Express, Café 86, Eagle Sandwich Co., Healthy Fix, Starving Artist Bistro, Tappan Tora Sushi, La Kebrada Mexican Restaurant, Aadar Indian Bistro, VYXN Restaurant & Lounge, and The Standard Restaurant & Nightclub. Personal Services: Top Dog Pet Wash, Venus Nail & Spa, Sports Clips, Sola Salon Studio, and Fort Washington Fitness. Retail & Professional Services: Friant Liquor, Paradise Cleaners, Patrick’s Music School, Tutoring Club, River Park Vet Hospital, The Bike Shop, Fleet Feet, and One Cruit. Riverview Shopping Center presents an opportunity for investors to acquire a well-located neighborhood shopping center at a price significantly below replacement value. Additionally, the investment offers potential "upside" through the development of the 0.99-acre parcel. Lastly, there are five buildings within the center that can be split off and sold separately.

FOR SALE DETAILS

PRICE

$26,067,000 USD

PRICE/SF

$738 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverview Shopping Center (9415-9471)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

400

LAND DETAILS

LAND ACRES

11.5 AC

LAND SF

500,940 SF

ZONING

C-2

APN/PARCEL ID

401-830-01,401-830-02,401-830-04,401-830-05,401-830-06,401-830-07,401-830-08,401-830-09,401-830-10

ASK ABOUT THIS PROPERTY

Edward NelsonMarcus & Millichap Real Estate Investment ServicesMore Info
916-724-1326

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Edward NelsonMarcus & Millichap Real Estate Investment ServicesMore Info
916-724-1326

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.