Value-Add Retail on High-Traffic Corner 2 Biens Vente aux enchères en ligne Fresno, CA

Secure an income-producing retail center with multiple high-yield growth opportunities with the acquisition of Dakota Plaza at 3761-3791 N Hughes Avenue in Fresno, California.

This 14,400-square-foot facility comprises two buildings with six functional suites currently 38% occupied by a diverse tenant mix that includes a restaurant, a bakery, and a smoke shop. Built in 1994, the property is situated on a 1.04-acre lot with approximately 40 on-site parking spaces. An additional neighboring paved lot measuring 1.22 acres will also convey with the sale. Built as a parking lot and currently in disrepair, the site can be renovated to provide further high-capacity surface parking to support the center.

Discover the versatile growth potential that sets this asset apart from competitors in the area. The current tenancy of Dakota Plaza carries a weighted average lease term (WALT) of 1.68 years, providing existing income and supporting the quick implementation of several different growth strategies. Value-add investors will be able to leverage elevated demand in the Midtown-South Retail Submarket to easily tenant the property. Currently, vacancy rates in the submarket sit at just 4.7%, with five-year annual average rent growth of 3.3%. There is also robust upside for long-term investors as a carried land play for future redevelopment, with flexible zoning allowing for a variety of different commercial projects.

Placed at the busy signalized corner of N Hughes Avenue and W Dakota Avenue, Dakota Plaza stays at top of mind in the local market, with direct exposure to more than 12,000 daily vehicles. The building’s prominent pylon signage offers heightened brand visibility to tenants, and two convenient access points allow for easy customer entry. The surrounding area draws potential customers with nearby traffic-driving retail locations for national brands such as Save Mart, dd’s Discounts, O’Reilly Auto Parts, CVS, McDonald's, Starbucks, and more. Additionally, the property is easily accessible from a large customer base in Downtown Fresno, just 6 miles away.

Benefit from the impressive demographic profile that supports this thriving investment market. A growing population of more than 146,000 lives within 3 miles of Dakota Plaza, offering a dependable customer base to tenants of the property. The average household income for the region exceeds $78,000, and with over $1 billion in retail spending during 2024, there is abundant retail demand that creates an environment of success for tenants and investors in this vibrant Central Valley hub.