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Value Add Grocery Anchored Center 6 Retail Properties Offered at $24,861,550 CAD in Fresno, CA
Investment Highlights
- Priced Below Replacement Cost at $134/sf
- Value Add through Lease Up of Vacant former Drive-Thru Restaurant
- Dense Infill Area with Over 382,000 People Within a 5-Mile Radius
- FoodMaxx Sales Rank #1 of 17 Save Mart/FoodMaxx Stores in Fresno-Clovis
- Over 78% of the GLA is Occupied by National, Regional or Franchised Brands
Executive Summary
Commercial Retail Associates, Inc. is pleased to have been selected as the exclusive listing agent for the sale of the Blackstone-Barstow Center, a high-performing grocery anchored community shopping center located at the signalized high-traffic intersection of Blackstone and Barstow Avenues in Fresno, California. The center is comprised of ±130,769 square feet of commercial space situated on seven separate tax parcels totaling ±11.22 acres of land and is 97.4% leased to 8 tenants with over 78% of the GLA being occupied by national, regional or franchised tenants. The subject property is well-positioned on a stretch of North Blackstone Avenue that has a dense core of retail and commercial buildings. Neighboring tenants at or near the intersection include Target, Smart & Final, Burlington, Dollar Tree, AutoZone, Guitar Center, Chevron, McDonald’s, Taco Bell, Panda Express, and several national car dealerships and national hotel chains. This offering presents an investor with an opportunity to acquire a successful community shopping center located in one of California’s largest cities.
Property Facts
| Price | $24,861,550 CAD | Number of Properties | 6 |
| Price / SF | $190.12 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 130,769 SF |
| Sale Type | Investment | Total Land Area | 14.55 AC |
| Status | Active |
| Price | $24,861,550 CAD |
| Price / SF | $190.12 CAD / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 130,769 SF |
| Total Land Area | 14.55 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 5418-5422 N Blackstone Ave, Fresno, CA 93710 | Retail | 82,500 SF | 1974 | - |
| 102 E Barstow Ave, Fresno, CA 93710 | Retail | 21,990 SF | 1975 | - |
| 5404-5412 N Blackstone Ave, Fresno, CA 93710 | Retail | 11,319 SF | 1978 | - |
| 5488 N Blackstone Ave, Fresno, CA 93710 | Retail | 10,000 SF | 1970 | - |
| 5420 N Blackstone Ave, Fresno, CA 93710 | Retail | 3,372 SF | 2005 | - |
| 44 E Barstow Ave, Fresno, CA 93710 | Retail | 1,588 SF | 1982 | - |
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Value Add Grocery Anchored Center
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