Fully Leased: Old Town Clovis Corner Building

For Sale

481 Pollasky Ave & 617 5th St, Clovis, CA 93612

This Clovis property for sale is located at 481 Pollasky Ave & 617 5th St. The current listed sale price for Fully Leased: Old Town Clovis Corner Building is $1,050,000. Fully Leased: Old Town Clovis Corner Building is situated on a lot that is 0.12 acre in size.

Contacts

broker

Jared Ennis

KW Central California

Property Details

  • Property Type Retail - Freestanding
  • Property Size 5,125 SF
  • Units 3
  • Lot Size 0.12 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Multi-Tenant
  • Year Built 1940
  • Date Updated Aug 6, 2024
This property is located on the corner of Pollasky & 5th St off CA-168 in Clovis, CA. The property is located North of 5th St, South of 4th St, West of Clovis Ave and East of Pollasky Ave. Centrally located near many national retailers they include Jack in the Box, Burger King, Sonic, Dutch Bros, Starbucks, Walmart, Taco Bell, Food Maxx, Red Robin, Ross, Burlington, Wells Fargo, Dollar Tree, Old Navy, Vons, Bank of the Sierra, Chase, & many others!100% Leased Investment Opportunity: Prime Pollasky & 5th Street Corner location in Old Town Clovis offering ±5,200 SF of multi-tenant retail shop spaces on ±0.12 acres. Offers (3) easy-to-rent retail spaces leased to (2) long-term tenants - including Madeline's Bridal & Maxwell House Antiques - on Modified Gross MTM leases. Madeline's Bridal Boutique has proudly served customers for 67 years, establishing its presence at this specific location for the past 14 years. The first-class recent remodel performed by the tenants in suites 457 & 481 includes brand-new hard-surface flooring throughout, clean and upgraded restrooms, crown molding throughout, updated energy efficient features, LED lighting, fresh interior/exterior paint (2) 5 year-old HVAC's, & new coating on roof with zero leaks over the recent 5-day consecutive downpour. The property sits comfortably in Clovis' primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Great visibility, convenient parking & easy access to CA-168 on/off ramps. Many front parking spaces available, and excellent existing corner signage. Value-add opportunity with actual rents of $94,416/year collected (6.91% CAP rater) plus upside potential. After addressing the under-market rent of (1) tenant and extending the leases past their MTM status, the annual income can be $109,200/year (15.67% increase) providing a proforma 8.42% CAP rate. Unique investment offering easy-to-rent spaces within an under-built market offering a strong need for these type of units. The deal offers a 10.02% cash-on-cash return when leveraged with 30% down, producing a 1.56 DCR!

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Highlights

  • Fully Leased Investment w/ (2) Longstanding Tenants
  • Functional Retail Spaces | Easy To Rent | Prime Corner
  • Tenant Paid For Complete Remodel in Suites 457 & 481
  • Madeline's Bridal Has Been At This Location for 14 Years
  • Easy Access | Separate Meters | Multiple Configurations
  • Cash Cow Producing Current Gross Rents of $94,416
  • Long-Term Tenants | Low Turnover | Low Maintenance
  • Easy Access from Surrounding Major Corridors
  • Excellent Existing Signage | Requires Little Management
  • Easy Access to Highway 168 On/Off Ramps
  • Ample Parking, Quality Tenants, & Great Exposure
  • Building Equipped w/ Separate HVAC's & Meters
  • Excellent SBA Loan Candidate w/ Built In Passive Income
  • Well-Known Retail Strip Center @ Corner Location
  • Ample Parking and Mature Landscaping
  • 6.91% Existing Cap & 8.42% Cap After Rent Increases

Attachments

Getting around

  • 93/100

    Walk Score ®

  • 28/100

    Transit Score ®

  • 77/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Clovis, CA
  • Zip Code 93612
  • Market Central Valley

Points of Interest

  • El Prado

    5.71 miles

  • Shell

    0.09 miles

  • ChargePoint

    0.78 miles

  • Tesla Supercharger

    0.90 miles

  • Chevron

    0.97 miles

  • Arco

    0.98 miles

  • Costco Gasoline

    1.24 miles

  • Von's Gas Station

    1.28 miles

  • Vallero

    1.79 miles

  • Valero

    2.44 miles

  • eVgo

    4.20 miles

  • Temperance Park and Ride

    2.42 miles

  • Cell Phone Waiting Lot

    4.13 miles

  • Parking Lot B

    4.46 miles

  • Parking Lot C

    4.49 miles

  • Parking Lot A

    4.53 miles

  • Parking Lot D

    4.56 miles

  • Parking Lot M1

    4.61 miles

  • Fowler Ave Park N Ride

    5.11 miles

  • Fresno City College Parking Structure

    6.28 miles

  • Parking Lot F

    6.67 miles

  • House of Juju

    0.04 miles

  • B.S. Cafe

    0.66 miles

  • El Pueblito

    0.70 miles

  • Taco Bell

    0.83 miles

  • In-N-Out Burger

    0.89 miles

  • Burger King

    0.89 miles

  • McDonald's

    0.97 miles

  • Carl's Jr.

    0.98 miles

  • Denny's

    0.99 miles

  • Jimmy John's

    1.00 miles

  • Peacock Market

    0.67 miles

  • Sprouts Farmers Market

    0.86 miles

  • Grocery Outlet

    1.02 miles

  • Walmart Supercenter

    1.12 miles

  • Target

    1.23 miles

  • Vons

    1.23 miles

  • ALDI

    1.29 miles

  • Save Mart Supermarket

    1.47 miles

  • Walmart Neighborhood Market

    1.65 miles

  • TJ Maxx

    1.77 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Jared Ennis

KW Central California