1055 Van Ness Ave - Hospitality FOR SALE


Fresno, CA 93721- Fulton Mall
$19,500,000 USD
775-414-9433
1055 Van Ness Ave, Fresno, CA for Sale
$19,500,000 USD
Hospitality - FOR SALE
1/26
null | Request Cap Rate

1055 Van Ness Ave
Fresno, CA 93721
Fulton Mall


HIGHLIGHTS

  • Dual-Path Redevelopment: Execute a 197-key hotel repositioning or pursue a 197-unit apartment conversion, with potential expansion to approximately 23
  • Opportunity Zone: Located within a federally designated Opportunity Zone offering potential long-term tax advantages for qualifying investors.
  • Plans Ready to Execute: Professional hotel renovation design package completed with multiple FF&E bids secured.
  • Recent Capital Improvements: Roofing and waterproofing completed, along with fire alarm and fire sprinkler system improvements.
  • Prime Downtown Location: Near the Fresno County Courthouse, future high-speed rail infrastructure and Historic Chinatown, with approximately 50% of un

OVERVIEW

1055 Van Ness Avenue presents a rare redevelopment opportunity in the heart of Downtown Fresno. The vacant, former Radisson Hotel consists of a nine-story, 130,358 SF concrete-and-steel building with 197 existing hotel keys on approximately 0.90 acres. The property provides investors with two compelling execution strategies: reposition the asset as a full-service hotel utilizing completed professional design plans and FF&E bids, or convert the existing rooms into 197 apartments with potential expansion to approximately 234 units. Located within a federally designated Opportunity Zone, the property also benefits from significant public investment and revitalization efforts underway throughout Downtown Fresno.

FOR SALE DETAILS

PRICE

$19,500,000 USD

PRICE/SF

$150 USD /SF

# OF ROOMS

197

PRICE/ROOM

$98,985 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Radisson by Choice Fresno Conference Center

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

9

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

C-4, Fresno

APN/PARCEL ID

466-240-08

ASK ABOUT THIS PROPERTY

Benjamin DreicerPremier Realty AssociatesMore Info
775-414-9433

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Benjamin DreicerPremier Realty AssociatesMore Info
775-414-9433

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.