Functional Medical Office Spaces in Fresno, CA

Highlights:

• ±8,085 SF Freestanding Building on ±28,755 SF
• Easy Lease-able Units w/ Low Vacancy Turnover | Priced Below Replacement Cost
• Newly Remodeled Building w/ Fresh Interiors | New Roof, Carpet, and Paint
• Busy & Established Corridor w/ Easy Central Location Between CA-99 and CA-41
• Conservative Rents | Upside In Lease Rate Appreciation
• Separately Metered Suites | Tenant's Pay All Utilities
• Great Signage w/ 151' Frontage on First St (2 Curb Cuts)
• Surrounded with Ample Parking and Mature Landscaping
• Secure, Private, Established Location w/ Quality Tenant Mix
• Quality Tenant Guaranteed By The State of CA
• Corner Parcel Provides Excellent Visibility

Description:

Income-producing asset with upside leasing potential through rent appreciation (conservative rents) and very finance-able. Freestanding building in a highly traveled area with (4) easy-to-lease separately metered suites (6 separate meters). Long term tenants in place with existing occupancy. The State of CA suites were remodeled in 2011 to full compliance in excess of $400,000 in specialty improvements.

Building Description:
±8,085 SF Freestanding office on ±0.66 Acres (±28,755 SF) with a private parking lot, well-maintained yard, and professionally maintained building. There are 27 parking spaces (1 ADA), and 15 spaces in front of the building providing ample parking. This building is located on a corner parcel which, provides excellent visibility, and secured via Iron security gates/LED parking lights. New roof/insulation in 2018 (with transferable warranty), all HVAC's less than 10 years old, and interior offers various configurations. Spaces feature a functional floor plan that each tenant has made substantial tenant improvements too.

Tenant Information:

SUITE 104-105: With a Fitch, Moody’s, and S&P credit rating of AA-, Aa3, and AA-, respectively, The State of California has leased the office space plus 2/3rds of the roof since 2011 for the California Air Resources Board (CARB). As the "clean air agency" in the government of California since 1967, the leased premises is utilized to survey and report emissions of various greenhouse gases, identify pollutants, weather tracking, and more. As California counties in the Valley region constantly receive a failing “F” grade in the State of the Air reports, the staying power of this tenant is very strong. The tenant totally gutted the space and spent $425,000 of their own money to build it out to their specs. In addition, they have installed special air quality monitoring equipment on the roof - a huge investment! Never a late payment in 8 years; Lease is up for renewal 11/30/2027.

SUITE 102. The Dental Practice has been continuously there in Suite 102 for 40 years. The practice has sold 2 or 3 times when someone retired, but the business has been continuous with no gaps. Never a day of rent loss in 40 years. The DDS who just bought the practice has 15+ years experience and 2 other seasoned locations and knows how to be on the leading edge of running a dental practice. He put lots of his own money into remodeling the space and installing an electronic business monument sign. Never a late payment in 18 years of owning this property.

This free-standing medical office building is proximity located on the northwest corner of North First Street and Garland Avenues. This prime location provides excellent First Avenue exposure and signage, easy accessibility to Freeway 41 on and off ramps, and close proximity to shopping, restaurants and banking.

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2 Spaces Available

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