Description
Come join us for a private tour of this immaculate office property that just had a LARGE PRICE REDUCTION! Tours are by appointment only Wednesday Sept 27, 3pm-6pm. Call or text the listing agent for an appointment. 190 Van Ness Professional Office Suites is a 12 individual unit single story office building that was completely remodeled in early 2023. It is ideally located in Downtown Fresno and is well positioned with upside potential. Current pricing reflects a pro-forma 6.2 Cap Rate. The property is almost finished being leased up and rents per square foot have risen over 20% since April 2023 when the property was able to be leased. Rents are expected to continue to rise quickly due to a lack of individual office suites in this area. With no rent control on office space, future rent increases can be raised according to market rents and are not subject to incremental rent raises. Property is fully ADA compliant. Ideal tenants include esthetician and beauty services, barbers and salons, therapists, tech services, e-commerce, legal services, notary's, insurance services, realtors, and more. Contact your agent or the listing agent for the property brochure which includes the current rent roll and pro-forma financials.
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0BEDS
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0.27ACRES
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2BATHS
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01/2 BATHS
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3,747SQFT
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$212$/SQFT
School Ratings & Info
Description
Come join us for a private tour of this immaculate office property that just had a LARGE PRICE REDUCTION! Tours are by appointment only Wednesday Sept 27, 3pm-6pm. Call or text the listing agent for an appointment. 190 Van Ness Professional Office Suites is a 12 individual unit single story office building that was completely remodeled in early 2023. It is ideally located in Downtown Fresno and is well positioned with upside potential. Current pricing reflects a pro-forma 6.2 Cap Rate. The property is almost finished being leased up and rents per square foot have risen over 20% since April 2023 when the property was able to be leased. Rents are expected to continue to rise quickly due to a lack of individual office suites in this area. With no rent control on office space, future rent increases can be raised according to market rents and are not subject to incremental rent raises. Property is fully ADA compliant. Ideal tenants include esthetician and beauty services, barbers and salons, therapists, tech services, e-commerce, legal services, notary's, insurance services, realtors, and more. Contact your agent or the listing agent for the property brochure which includes the current rent roll and pro-forma financials.
© 2023 Fresno Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2023-09-27T06:46:45.607.