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Shopping Neighborhood

Princeton Square

2701-2741 North Blackstone Avenue, Fresno, CA 93703

Listing Price: $3,750,000

Cap Rate
5.15%
Gross SF
26,782
Rentable SF
26,782
Price/Gross SF
$140.02
Lot Size
1.57 acres
Year Built
1979

Investment Overview

Marcus & Millichap is pleased to present Princeton Square, a value-add neighborhood shopping center located on Blackstone Avenue in Fresno, the most heavily traveled commercial corridor in Central California. Built in 1979 Princeton Square includes 26,782-SF of gross leasable area on a 1.57-Acre parcel. The center is offered at 82% occupancy providing an opportunity for added value through lease up of vacant suites; in-place rents are well below market ensuring additional upside upon lease turnover. All in-place leases are NNN and allow for management expense recapture and all include scheduled rate increases. The Subject has benefited from extensive capital expenditures over the last three years including a new stucco facade, a new roof on the entire building, new exterior and parking lot lighting, lot sealing and striping, new HVAC units on most suites, new sidewalks and ADA ramps on both the Blackstone Ave and Princeton Ave frontage, new landscaping, a new pylon sign, and a new block wall and trash enclosure. Princeton Square offers an investor the opportunity to acquire an asset with strong intrinsic value, located on a primary commercial corridor, at a fraction of replacement cost with a direct path to stabilization.

Investment Highlights

  • Every day Needs Center with Diverse Tenant Mix
  • Substantial Value Add Potential
  • Substantial Capex Recently Completed
  • Located on Blackstone Ave, the Busiest Commercial Corridor in Central California
  • Direct Path to Stabilization

Exclusively Listed By

Financing By

Shopping Neighborhood

Princeton Square

Listing Price: $3,750,000

Cap Rate
5.15%
Gross SF
26,782
Rentable SF
26,782
Price/Gross SF
$140.02
Lot Size
1.57 acres
Year Built
1979

Investment Highlights

  • Every day Needs Center with Diverse Tenant Mix
  • Substantial Value Add Potential
  • Substantial Capex Recently Completed
  • Located on Blackstone Ave, the Busiest Commercial Corridor in Central California
  • Direct Path to Stabilization

Investment Overview

Marcus & Millichap is pleased to present Princeton Square, a value-add neighborhood shopping center located on Blackstone Avenue in Fresno, the most heavily traveled commercial corridor in Central California. Built in 1979 Princeton Square includes 26,782-SF of gross leasable area on a 1.57-Acre parcel. The center is offered at 82% occupancy providing an opportunity for added value through lease up of vacant suites; in-place rents are well below market ensuring additional upside upon lease turnover. All in-place leases are NNN and allow for management expense recapture and all include scheduled rate increases. The Subject has benefited from extensive capital expenditures over the last three years including a new stucco facade, a new roof on the entire building, new exterior and parking lot lighting, lot sealing and striping, new HVAC units on most suites, new sidewalks and ADA ramps on both the Blackstone Ave and Princeton Ave frontage, new landscaping, a new pylon sign, and a new block wall and trash enclosure. Princeton Square offers an investor the opportunity to acquire an asset with strong intrinsic value, located on a primary commercial corridor, at a fraction of replacement cost with a direct path to stabilization.

Exclusively Listed By

Financing By

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