Located in the San Joaquin Valley, Madera is the county seat of Madera County. With a city population of 65,508 and county population of 156,890, Madera is the principal city of the Madera–Chowchilla Metropolitan Area. This area encompasses all of Madera County and Fresno. The commercial service multi-tenant complex is located just south-west of N "E" Street and between Central and E 3rd Street, and is close to the Madera Amtrak station and a planned California High-Speed Rail stop. The property serves all of the surrounding communities including Fresno, Clovis, Chowchilla, Ahwahnee, Bass Lake, Bonadelle Ranchos-Madera Ranchos, Coarsegold, Fairmead, La Vina, Madera Acres, Nipinnawasee, Oakhurst, Parksdale, Parkwood, Rolling Hills, and Yosemite Lakes. This is a bank-owned opportunity, spanning 41,784 SF across 1.83 acres (79,606 SF) between Fresno and Merced. Currently, the complex is home to 18 long-term tenants on AIR Industrial Gross leases, with 20 separate spaces. There is potential for value-add, as actual rents collected amount to $139,860/year. After leasing vacancies and extending leases ($96,757/year) and addressing unpaid units ($40,008/year), the realistic 6-12 month stabilized gross annual income is estimated to be $276,625.11 at month 12, with potential gross income of $283,825.11/year the following year. The complex offers easy-to-rent warehouse spaces within an under-built market, with multiple configurations ranging from 980 SF up to 6,000 SF with an average of 2,270 SF units. Each unit comes equipped with ample power, roll up doors, restrooms, sky lights, air vents, evap coolers, heaters, security, separate meters, and have the ability to be combined. The complex also offers great visibility, convenient parking, and easy access to CA-99 on/off ramps, with many front parking spaces available and excellent existing corner signage. The complex is split between 401-425 N "E" Street and 610 N "E" Street. The former offers 27,361 SF with 13 units and 17 rollup doors, while the latter offers 14,423 SF with 7 units and 14 rollup doors. Currently, 4 tenants are at market rents with leases until 2021-2023, while the value-add opportunity consists of leasing 4 vacancies of 10,558 SF, addressing 3 unpaid units of 7,391 SF, increasing rent and extending lease length on 3 MTM tenants, and simply extending 4 existing market-rate tenants when their leases expire over the next 6-12 months. Once stabilized, the deal offers TEEN cash-on-cash returns when leveraged.