Retail/Office Spaces Available in Downtown Fresno, CA

Located in Downtown Fresno and on the corner entrance to Chinatown. Located on the corner of Tulare Street and "F" Street. The property is located North of Kern Street, South of Fresno Street, West of "G" Street and East of "E" Street. This building is in close proximity to CA-41, CA-180/168 and CA-99 and is a tremendous draw and well supports the tenants near by like: the ±190,000 SF IRS building, The Grand 1401, Warnors Theatre, CVS, Club One Casino, Fresno County Superior Court, Fresno County Sheriff's Office, Chuckchansi Park, Joe's Steak House, Tioga Sequoia Brewing Company, Within walking distance to the Fulton Mall and Chukchansi Triple AAA Ballpark. Nation surrounding tenants include McDonalds, Starbucks, Carls Jr., Jack in the Box, Taco Bell, Wendy's, Burger King, Rally's, Wells Fargo, Bank of the West, Juicy Burger, Triple A Burger, Union Bank and many others!Mixed-use two-story value-add opportunity with existing income: ±29,654 SF consisting of (10) commercial retail/office spaces on ±0.60 acres within Chinatown in Downtown Fresno. Unique investment offering (9) easy-to-rent small spaces and (1) former hotel within an under-built market offering a strong need for these type of spaces. Great visibility, convenient parking & easy access to CA-99 and CA-180 on/off ramps. All units have various access points, ample signage, fire sprinklers, and abundant nearby parking. Many front parking spaces available, quick access to the 2nd floor, and excellent existing corner exposure/signage. The upstairs (former Lincoln Hotel) consist of (52) 12x10 rooms with sinks, (9) restrooms throughout, (10) storage rooms, boiler & material room. The value-add opportunity consists of (i.) investing ±$1,050,000 ($35/SF) into the upstairs and downstairs, (ii.) leasing the (2) commercial vacancies at $0.75/SF (2,240 and 3,024 SF), (iii.) leasing out the former Lincoln Hotel (estimated at $500/month/room), and (iv.) increasing the rent of all commercial units to $0.75/SF over the next 6-12 months. In addition, charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger. The proposed remodel would have a Total Project Cost of $2,450,000, requiring a down payment of ±$980,000, with the balance placed on a 60% LTV construction loan to produce a 3.16 DCR and a 22.76% Cash-on-cash return!±2,240 to 5,264 SF of retail/office space located in Downtown Fresno, CA. There are currently (2) available spaces with the potential to combine units. Unit #938 of ±3,024 SF has the potential to be combined with unit #944 of ±2,240 SF for a total of ±5,264 SF. All units have access to nice restrooms, signage, and abundant parking. This commercial retail building offers close proximity to the future high-speed rail and provides exceptional access to the loading and entrance area. Upcoming Chinatown Urban Greening Project: There are three improvements planned. The first will improve active transportation access to a transit stop in Chinatown located on F and Tulare Streets through the installation of 14 LED streetlights on F Street. Lighting will be installed from Fresno to Ventura Street. The second will increase the urban tree canopy and provide more greenspace in Chinatown. This will be accomplished through planting 26 trees on F Street from Fresno to Mariposa Streets. One parklet will also be installed within these limits. The third will reconstruct China Alley between Kern and Inyo into a permeable green alley and install strand lighting to increase visibility. The City of Fresno will provide the long-term operations and maintenance of the improvements.