Dicks/Planet Fitness - Fresno, CA

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Pricing and Location


Price:   $9,743,144

Address:   3380-3382 West Shaw Avenue, Fresno, CA 93711

Status:   Available

Property Details


CAP Rate: 7.35% Year Built: 1993
Net Rentable Area: 77,431 Price Per Sqft: $125.83
Lot Size (Acres): 6.01 AC NOI: $716,121

Marketing Materials


Property Description


Marcus & Millichap has been selected to exclusively market for sale Dick’s Sporting Goods and Planet Fitness, located at 3380-3382 West Shaw Avenue in Fresno, California. The two tenants comprise 77,431 square feet and are shadow anchored by the 277,574-square-foot Arbor Faire Shopping Center. Both tenants are nationally recognized and offer modified NNN leases with minimal landlord responsibilities, creating an inviting passive investment opportunity for a qualified buyer. Additionally, the owner of the Arbor Faire Shopping Center provides common area maintenance for Dick’s Sporting Goods and Planet Fitness, ensuring pride of ownership and quality care of the grounds.

The asset is located in the heart of an established retail corridor along Shaw Avenue. The property boasts frontage along the heavily traversed corridor, which experiences 40,000 +/- vehicles per day. The long-term viability of the West Shaw corridor is ensured by its location near new and existing housing as well as the lack of suitable sites for new shopping centers on Fresno’s west side. Furthermore, Dick’s Sporting Goods is the only large-format sporting goods retailer on Fresno’s west side, maintaining a dominant market share in the region.

Fresno is the fifth largest city in California, boasting more than 525,000 residents and serving as the economic and cultural core of the San Joaquin Valley. The city also has statewide and national significance as a growing warehousing and distribution hub. In addition to the city’s positive economic impact, the local housing market has experienced favorable trends. Fresno’s housing market was ranked the healthiest in the nation in 2016, according to the Freddie Mac Multi-Indicator Housing Market Index. The housing stock is continuing to expand, especially on the city’s west side and in close proximity to Dick’s Sporting Goods and Planet Fitness. Future investment in the city will partially be driven by the California High Speed Rail Project, which will include a station in downtown Fresno. The high speed rail line will provide passengers access to the state’s largest economic centers, while also improving local traffic patterns along Shaw Avenue and California State Route 99.

The property provides investors the opportunity to acquire an asset with long-term sustainability along a major retail corridor in a city that generates substantial economic activity.

Area Map and Street View


What Clients Are Saying                                     
 

"Lior Regenstreif is a professional broker that achieves real results for his clients. We purchased a transaction from a seller who had not sold a property in many years and wanted the highest price with no hassles. We were the ultimate buyer and Lior got his seller the price he wanted and made the process as smooth as possible."
Brian Fagan, Selective Real Estate Investments

Contact Us

NNN Deal
in association with Marcus & Millichap

16830 Ventura Blvd. Suite 100
Encino, CA 91436

Lior Regenstreif
First Vice President, Investments
Senior Director, National Retail Group
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Rebekah Zweiban Wallack

Senior Research Analyst
Special Projects Coordinator
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Toll Free: 888.NNN.DEAL
Phone: 818.907.9525
Fax: 818.907.8557