Retail Space For Lease @ 5048 N Blackstone Ave

100% Leased Investment Opportunity : Prime Shaw & Blackstone Corner location offering ±51,451 SF of multi-tenant retail shop and pad spaces on ±3.23 acres in the center of Fresno, CA. Offers (10) easy-to-rent retail spaces leased to long-term tenants - including Cookies, Papa Murphy's & Advanced America - on professionally drafted Triple Net leases. The property sits comfortably in Fresno’s primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Just over 2 miles away, is Fashion Fair Mall featuring over 130 retailers and drawing consumers from surrounding communities. Deal offers a DCR of 1.90 with 30% down, 8.45% capitalization rate, and an 13.29% cash-on-cash return.

Value-add opportunity with actual rents of $681,253/year plus upside potential. After factoring out NNN slippage from #5060 and 5048, the recapture is 38.15% or $66,266.80/year collected. Cookies lease was signed during the pandemic (2/2020) and features increases of 2% per annum. Papa Murphy's Pizza invested into solar panels August 2020, showing their commitment to the space; the rent increases again in July 2021 based off CPI (min 2%, max 4%). El Basha Restaurant expanded 2,550 SF more in April 2018; the 5-year renewal is expected to be $1.40/SF with continued $0.05/SF annual increases. US Furniture’s next increase is projected to increase by $3K/annum for the next 24-months. Fresno Suit Outlet just extended for an additional 5-years with 3% increases per annum. Mahlmann Outdoor Advertising’s increase is anticipated to be 20% again for the next 5-year extension. Both Ting Ting (Cell Phone Repairs and Sales) and Skin Décor’s rent increases by 2% per annum, increasing July 2021. SuCasa Valley Insurance Services, LLC is set to renew for 3-years at FMV August 2021. Advance America bumps are 5% for another 3-years (same as previous extensions). After the above pre-existing and future lease negotiations are performed, the realistic 6-18 month stabilized gross annual income is $742,929.72 in base rent and NNN's of $66,266.80/year.

Unique investment offering easy-to-rent retail spaces within an under-built market offering a strong need for these type of spaces. Each unit has access to high speed Internet, is separately metered, has private restrooms, private entrances, and consists of demising walls (can be combined). Great visibility, convenient parking & easy access to CA-41 and CA-168 on/off ramps. Many front parking spaces available, and excellent existing corner signage.

BONUS: The parking easement is set to expire in 2021 for the rear northeast unused parking (behind the Sketchers building). A buyer will have the ability to renegotiate this easement to potentially eliminate it (for further development), or potentially charge rent for the use of it (whether it be to the adjacent center or a tenant in need of land). This space offers accomodations for: strip center.