FOR SALEimages3.loopnet.com/d2/Myg7AnpBfDKqbLVZFDNftHXuORikmc7f4...Martins Barber Shop 101 600 10/25/2002 MTM 1.31 $800.00 $9,600 Victory Christian Fellowship 103 13,800 11/01/2013

BOESE COMMERCIALContact Us

559-369-2750CalBRE #[email protected]

ROB BOESEPresident/Broker

559-369-2750CalBRE #01922740

[email protected]

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2137 KERN STREET | FRESNO, CA 93721 | 559-369-2750 | BCFRESNO.COM

4910 E ASHLAN AVEFresno, CA 93726

FOR SALE

Presented By:

President/BrokerO: 559.369.2750E: [email protected]

Rob Boese

Contact UsO: 559.369.2750E: [email protected]

Boese Commercial




559-369-2750CalBRE #01922740

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Fresno, CA 937264910 E ASHLAN AVE

TABLE OF CONTENTS

All materials and information received or derived from Boese Commercial its directors, officers,agents, advisors, affiliates and/or any third party sources are provided without representation orwarranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack ofcompliance with applicable governmental requirements, developability or suitability, financialperformance of the property, projected financial performance of the property for any party’s intendeduse or any and all other matters.

Neither Boese Commercial its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the any materialsor information provided, derived, or received. Materials and information from any source, whetherwritten or verbal, that may be furnished for review are not a substitute for a party’s active conduct ofits own due diligence to determine these and other matters of significance to such party. BoeseCommercial will not investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including through appropriatethird party independent professionals selected by such party. All financial data should be verified bythe party including by obtaining and reading applicable documents and reports and consultingappropriate independent professionals. Boese Commercial makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financial data orassumptions. Boese Commercial does not serve as a financial advisor to any party regarding anyproposed transaction. All data and assumptions regarding financial performance, including that usedfor financial modeling purposes, may differ from actual data or performance. Any estimates ofmarket rents and/or projected rents that may be provided to a party do not necessarily mean thatrents can be established at or increased to that level. Parties must evaluate any applicablecontractual and governmental limitations as well as market conditions, vacancy factors and otherissues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions should bediscussed by the party with a title officer or attorney. Questions regarding the condition of theproperty and whether the property complies with applicable governmental requirements should bediscussed by the party with appropriate engineers, architects, contractors, other consultants andgovernmental agencies. All properties and services are marketed by Boese Commercial incompliance with all applicable fair housing and equal opportunity laws.

CONTE NT S CONFIDENTIALITY & DISCLAIMER




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OFFERING SUMMARY

Sale Price: $5,850,000

Price / SF: $128.10

Cap Rate: 6.07%

NOI: $355,154

Lot Size: 2.13 Acres

Year Built: 2000

Building Size: 45,666

Zoning: M1

Boese Commercial is pleased to offer, on behalf of the Owner, thisapproximately 45,666 square foot Professional Multi-Use building forsale. The subject property is located at 4910 E Ashlan Avenue and offersa consistent cashflow and professional tenants. The tenant makeup andbuilding amenities allow use for multiple tenant types including retail,office and warehouse.

PROPERTY OVERVIEW

Located on the border of Fresno and Clovis off of N Willow Avenue, theProperty is situated on the corner of Ashlan and Winery. It is surroundedby a variety of community areas including two small retail centers to theEast and West. Also nearby are a professional office park and residentialneighborhoods to the North.

LOCATION OVERVIEW


EXECUTIVE SUMMARY




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SALE PRICE $5,850,000

LOCATION INFORMATION

Street Address 4910 E Ashlan Ave

City, State, Zip Fresno, CA 93726

County/Township Fresno

Side Of Street South

Cross Streets Ashlan Ave and Winery Ave

Road Type Paved

Nearest Highway Fwy 168

Nearest Airport Fresno Yosemite International Airport

BUILDING INFORMATION

Building Size 45,666 SF

Building Class A

Tenancy Multiple

Number Of Floors 1

Year Built 2000

Condition Excellent

PROPERTY DETAILS

Property Type Mixed Use Building

Property Subtype Office/Retail Building

Zoning M1

Lot Size 2.13 Acres

APN# 493-180-19

Lot Frontage 414.9

Lot Depth 212

Corner Property Yes

Parking Type Surface


PROPERTY DETAILS




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LOCATION MAPS




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4910 E ASHLAN AVE RETAILER MAP




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FINANCIAL SUMMARY

2017 Current Financials include one vacancy2018 - 2020 Projected Financials include full occupancy and existing lease step-ups2019 & 2010 Projected Financials include a 1.5% expected expense increase

INVESTMENT OVERVIEW 2017 CURRENT 2018 PROJECTED 2019 PROJECTED 2020 PROJECTED

Price $5,850,000 $5,850,000 $5,850,000 $5,850,000

Price per SF $128.10 $128.10 $128.10 $128.10

CAP Rate 6.1% 7.0% 7.2% 7.4%

Cash-on-Cash Return 6.07 % 6.99 % 7.19 % 7.37 %

Total Return $355,154 $408,900 $420,528 $430,924

Gross Income $449,104 $505,200 $518,040 $528,436

Operating Expenses $93,950 $96,300 $97,512 $97,512

Net Operating Income $355,154 $408,900 $420,528 $430,924




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INCOME SUMMARY 2017 2018 2019 2020

Rental Income $430,240 $486,336 $499,176 $509,572

CAM Reimbursement $18,864 $18,864 $18,864 $18,864

Gross Income $449,104 $505,200 $518,040 $528,436

EXPENSE SUMMARY 2017 2018 2019 2020

Insurance-Comprehensive $5,160 $5,315 $5,395 $5,395

Landscaping $9,120 $9,394 $9,535 $9,535

Garbage $6,696 $6,897 $7,000 $7,000

Electricity $6,312 $6,501 $6,599 $6,599

Water $4,320 $4,450 $4,516 $4,516

Property Taxes $30,480 $31,394 $31,865 $31,865

Security Alarm Monitoring $396 $408 $414 $414

Fire & Alarm Dedicated Lines $1,404 $1,446 $1,468 $1,468

Porter $6,816 $7,020 $7,126 $7,126

Annual Backflow $37 $38 $39 $39

Annual Fire Extinguisher Test $25 $26 $26 $26

Property Management $15,600 $15,600 $15,600 $15,600

Bookkeeping, G. Burdette Accounting & Taxes $3,168 $3,263 $3,312 $3,312

Legal Fees (est) $2,016 $2,076 $2,108 $2,108

Miscellaneous (est) $2,400 $2,472 $2,509 $2,509

Gross Expenses $93,950 $96,300 $97,512 $97,512

Net Operating Income $355,154 $408,900 $420,528 $430,924


INCOME & EXPENSES




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TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

START

LEASE

END

% OF

BUILDING

MONTHLY

RENT

ANNUAL

RENT

Martins Barber Shop 101 600 10/25/2002 MTM 1.31 $800.00 $9,600

Victory Christian Fellowship 103 13,800 11/01/2013 10/31/2018 30.22 $10,185.00 $122,220

Pharmerica 111 11,000 03/01/2003 05/31/2020 24.09 $11,868.00 $142,421

AscribeRX America 111A 2,020 06/01/2017 05/31/2020 4.42 $800.00 $9,600

Kings View Behavioral Health 120 8,500 07/15/15 06/30/2020 18.61 $9,011.00 $108,140

Soul Scissors 126 1,282 06/01/2017 05/31/2022 2.81 $1,000.00 $12,000

Vacant 134 3,300 - - 8.01 - -

Quality Home Services 136 3,783 10/01/2015 09/30/2018 8.28 $1,700.00 $20,400

American Ambulance 136A 500 05/17/2010 MTM 1.09 $600.00 $7,200

Totals/Averages 44,785 $35,965.00 $431,581

Victory Christian Fellowship is in lease renewal negotiations.Pharmerica and AscribeRX America are the same tenant and have just expanded.


RENT ROLL




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IMPROVEMENTS

From July 2017 through September 2017, the Sellerhas made approximately $150,000 of improvements tothe Property.

• Installation of protective backflow bollards

• Upgraded landscape

• Rapid Roof III Coating & gutter liner

• Crackfill, re-seal & re-stripe of ADA standards ofparking lot asphalt

• Property lighting repairs and upgrades, including themonument signage


PROPERTY IMPROVEMENTS




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POPULATION 1 MILE 5 MILES 10 MILES

Total population 13,958 384,184 759,115

Median age 29.9 30.4 31.5

Median age (male) 28.2 29.1 30.4

Median age (Female) 31.0 31.9 32.5

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 5,414 127,151 248,798

# of persons per HH 2.6 3.0 3.1

Average HH income $48,234 $55,373 $63,528

Average house value $236,902 $291,752 $306,361

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP

Documents

FOR SALEimages3.loopnet.com/d2/Myg7AnpBfDKqbLVZFDNftHXuORikmc7f4...Martins Barber Shop 101 600 10/25/2002 MTM 1.31 $800.00 $9,600 Victory Christian Fellowship 103 13,800 11/01/2013