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Shopping Neighborhood

Shaw Village

428-498 W Shaw Ave, Clovis, CA 93612

Listing Price: $12,500,000

Cap Rate
2.19%
Gross SF
80,520
Rentable SF
80,520
Price/Gross SF
$155.24
Lot Size
7.59 acres
Year Built
1974

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Shaw Village (the “Property”), a value-add neighborhood shopping center, anchored by dd’s Discounts (Ross Dress-4-Less) and other necessity-based tenants serving the consistently growing city of Clovis, California. Clovis is just North of Fresno, California. Located just east of California State Route 168 (90,000 Vehicles Per Day), the subject property is located on the signalized, hard corner intersection of Shaw Avenue and Peach Avenue (46,000 Vehicles Per Day). Shaw Village compromises of approximately 80,520 square feet of building on approximately 330,723 square feet of land. The strategic positioning of the real estate provides investors a variety of different options to increase value. The opportunity presents investors a neighborhood center at below replacement cost at building price per square foot of $155 & a land price of $38 per square foot, which would cost well over five times to build today. With the right tenant relationships investors will be able to significantly increase their returns. The site benefits from several major daily market drivers along the highly traveled Shaw Avenue, including Sierra Vista mall, a 700,000 square foot shopping mall anchored by Target, Kohl’s, Bath and Body. California State University, Fresno with over 25,000 students enrolled. Nearby national/credit tenants include Walmart Supercenter, Home Depot, Lowe’s Home Improvement, Costco, Target, Smart & Final, Hobby Lobby, Starbucks, Raising Cane’s and more, further increasing consumer traffic to the immediate trade area. In addition, Fresno airport is located just south of Shaw Plaza. The dense trade area has over 360,000 residents in a five-mile radius with the average household income of $82,091

Investment Highlights

  • Well Located Retail Center, Anchored by dd's DISCOUNTS (Ross Dress-4-Less NASDAQ: ROST | Moodys Rated A2)
  • True Value-Add Opportunity, Tremendous Upside and Below Replacement Cost Opportunity
  • Potential Pad Development Opportunities – Contact Agents for Details
  • Near Signalized Hard Corner with Excellent Access and Visibility, Multiple Ingress/Egress Points
  • Close Proximity to California State Route 168 (90,000 Vehicles Per Day) & Sierra Vista Mall (700,000 Square Feet)
  • Prominent Retail Corridor and Synergy– Large National/Credit Tenant Presence
  • Strong Five–Mile Demographics in Trade Area with 360,239 Residents with an Average Household Income of $82,091

Exclusively Listed By

Financing By

Shopping Neighborhood

Shaw Village

Listing Price: $12,500,000

Cap Rate
2.19%
Gross SF
80,520
Rentable SF
80,520
Price/Gross SF
$155.24
Lot Size
7.59 acres
Year Built
1974

Investment Highlights

  • Well Located Retail Center, Anchored by dd's DISCOUNTS (Ross Dress-4-Less NASDAQ: ROST | Moodys Rated A2)
  • True Value-Add Opportunity, Tremendous Upside and Below Replacement Cost Opportunity
  • Potential Pad Development Opportunities – Contact Agents for Details
  • Near Signalized Hard Corner with Excellent Access and Visibility, Multiple Ingress/Egress Points
  • Close Proximity to California State Route 168 (90,000 Vehicles Per Day) & Sierra Vista Mall (700,000 Square Feet)
  • Prominent Retail Corridor and Synergy– Large National/Credit Tenant Presence
  • Strong Five–Mile Demographics in Trade Area with 360,239 Residents with an Average Household Income of $82,091

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Shaw Village (the “Property”), a value-add neighborhood shopping center, anchored by dd’s Discounts (Ross Dress-4-Less) and other necessity-based tenants serving the consistently growing city of Clovis, California. Clovis is just North of Fresno, California. Located just east of California State Route 168 (90,000 Vehicles Per Day), the subject property is located on the signalized, hard corner intersection of Shaw Avenue and Peach Avenue (46,000 Vehicles Per Day). Shaw Village compromises of approximately 80,520 square feet of building on approximately 330,723 square feet of land. The strategic positioning of the real estate provides investors a variety of different options to increase value. The opportunity presents investors a neighborhood center at below replacement cost at building price per square foot of $155 & a land price of $38 per square foot, which would cost well over five times to build today. With the right tenant relationships investors will be able to significantly increase their returns. The site benefits from several major daily market drivers along the highly traveled Shaw Avenue, including Sierra Vista mall, a 700,000 square foot shopping mall anchored by Target, Kohl’s, Bath and Body. California State University, Fresno with over 25,000 students enrolled. Nearby national/credit tenants include Walmart Supercenter, Home Depot, Lowe’s Home Improvement, Costco, Target, Smart & Final, Hobby Lobby, Starbucks, Raising Cane’s and more, further increasing consumer traffic to the immediate trade area. In addition, Fresno airport is located just south of Shaw Plaza. The dense trade area has over 360,000 residents in a five-mile radius with the average household income of $82,091

Exclusively Listed By

Financing By

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