Investment Overview

Marcus & Millichap is pleased to offer this two-story, multi-tenant medical office building that presents a rare investment opportunity in the heart of Fresno’s thriving medical corridor. With the building being 22,093 square feet and sitting on a 0.92-acre parcel, the property combines stable income potential with significant upside for investors. Currently 25% occupied, ownership will sign a 2-year NNN master lease on 16,500 square feet of vacant space, ensuring consistent income during the stabilization period. Additionally, ownership occupies 3,500 square feet of the property and plans to enter into a 5-year sale-leaseback agreement, while an internal medicine practice occupies 2,000 on a month-to-month lease. The property has outstanding visibility along Herndon Avenue which is a major medical and commercial corridor with a traffic volume of 66,982 vehicles per day. It is conveniently situated near Highway 41, which sees 108,000 vehicles per day, further enhancing exposure. The surrounding area is a hub for medical services, with Kaiser Permanente located 0.5 miles away, Saint Agnes Medical Center 1.7 miles away, and San Joaquin Valley Rehabilitation Hospital just 2.2 miles away. The Fresno healthcare market remains strong, with a vacancy rate below 4%, ensuring strong demand for medical office space. This property’s location within a healthcare hub positions it for long-term success, especially with its proximity to renowned hospitals, clinics, and specialty practices. Current tenants include Singh Sinus and Breathing, a medical practice specializing in Allergy services and Immunology. Dr. Dharampal Johal, is an internal medicine specialist with over 35 years of experience. Both tenants contribute to the property’s established reputation in the medical community. This medical office offers a compelling investment opportunity with immediate cash flow from the master lease, significant upside potential during the lease-up period, and a prime location within Fresno’s vibrant medical corridor. Contact us today for more information, including the 10-year cash flow model and detailed property insights.