Riverview Shopping Center Portefeuille à vendre 6 biens 20 423 799 € Fresno, CA

Riverview Shopping Center is a 108,425-square-foot multi-tenant neighborhood shopping center situated on 9 parcels totaling 11.50 acres in Fresno, California. The property is located at the signalized intersection of North Fort Washington Road and North Friant Road, which experiences a traffic volume of approximately 42,000 vehicles per day.
Constructed in 2004, the shopping center is currently 87% occupied, with 31 tenants leasing 33 suites (some tenants occupy multiple suites). There are four vacant suites available, ranging in size from 1,400 to 2,800 square feet, totaling 8,720 square feet of vacant space. The property also generates additional rental income from a Texgreen clothing bin. Additionally, there is a undeveloped 0.99-acre parcel located at the prime hard corner of the shopping center that is being offered for $1,250,000. The additional land can be purchased with the shopping center or separately.
Riverview Shopping Center has historically maintained a high occupancy rate, with several tenants having operated there for five years or more. The most recent lease, signed in May 2025, is with Mulligans 1744 (golf simulator and sports bar). Mulligan's signed a 10-year NNN lease occupying 12,480-square feet. Mulligan's is paying for their own tenant improvements (TIs) estimated in the hundreds of thousands demonstrating their long term commitment to this center. The average rental rate for the center is $2.15 PSF on a triple-net (NNN) basis, providing investors with confidence that current rental rates align with market value. All tenants are on NNN leases with staggered expiration dates.
The center features a diverse and internet-resistant tenant mix, including:
Restaurants: Woodward Restaurant, Starbucks, Panda Express, Café 86, Eagle Sandwich Co., Healthy Fix, Starving Artist Bistro, Tappan Tora Sushi, La Kebrada Mexican Restaurant, Aadar Indian Bistro, VYXN Restaurant & Lounge, and The Standard Restaurant & Nightclub.
Personal Services: Top Dog Pet Wash, Venus Nail & Spa, Sports Clips, Sola Salon Studio, and Fort Washington Fitness.
Retail & Professional Services: Friant Liquor, Paradise Cleaners, Patrick’s Music School, Tutoring Club, River Park Vet Hospital, The Bike Shop, Fleet Feet, and One Cruit.
Riverview Shopping Center presents an opportunity for investors to acquire a well-located neighborhood shopping center at a price significantly below replacement value. Additionally, the investment offers potential "upside" through the development of the 0.99-acre parcel. Lastly, there are five buildings within the center that can be split off and sold separately.