Investment Highlights
- NOI of $120,000 with CAM Reimbursement from NAPA Genuine Paints. With This NOI, Cap Rate Would Be 8.42%
- Nearly 9,000 Square Feet of Multi-Tenant Retail Space
- NAPA Recently Extended Lease for Two Yrs Reflecting Commitment to Site
- Both Tenants Have Corporate Guaranteed Leases
- At the Intersection of Blackstone Avenue and McKinley Avenue, with a Combined Traffic Count of 45,000 Vehicles Daily
- Within Close Proximity to Yosemite Fwy with a Daily Traffic Count of 140,000 Vehicles, and Sequoia Kings Canyon Fwy with 101,000 Vehicles
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire an Aaron’s & NAPA Genuine Paints located in Fresno, CA with both tenants having corporate guaranteed leases. The current NOI is $114,000, and $120,000 with CAM reimbursement from NAPA Genuine Paints. With this NOI, the cap rate would be 8.42%.
This retail location offers nearly 9,000 square feet of multi-tenant retail space and is located at the intersection of Blackstone Avenue and McKinley Avenue, with a combined traffic count of 45,000 vehicles daily. NAPA Genuine Paints recently extended their lease for two additional years, showing a strong commitment to the site.
The subject property is located within close proximity to Yosemite Freeway with a daily traffic count of 140,000 vehicles, and Sequoia Kings Canyon Freeway with 101,000 vehicles. Property is also located one block from Fresno City College with an enrollment of more than 25,000 students, and five and a half miles from California State University, Fresno with which has an enrollment of nearly 25,000 students. Surrounding national retailers include Taco Bell, O’Reilly Auto Parts, Harbor Freight, Wendy’s and many more.
Aaron’s owns and operates over 1,600 company-operated and franchised stores in 47 states and Canada. Napa Auto Parts operates 57 distribution centers, 6,000 stores, and more than 16,000 collision centers nationwide.
Broker of Record:
Jim Markel
License: 01253407
