Listing Agency: California Outdoor Properties Show Phone

Listed By: Ed Perry · License #DRE#02083581 Show Phone

Added: Jun 28 Changed: Aug 19 Last Checked: Aug 30 at 5:06PM

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MLS# 11916118

Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

Cedar Crest Resort is a lakefront hospitality property on Huntington Lake’s north shore, with a forested High Sierra setting and improvements associated with resort and marina operations. The property includes approximately 11,500 square feet under roof, led by a 3,000-square-foot lodge containing a commercial kitchen, dining space for approximately 50 guests, a small bar, and a grocery store. Fourteen rental cabins, an owner’s cabin, a chef’s cabin, staff bunk cabins, shower and restroom buildings, laundry facilities, an A-frame shop, tool sheds, and other support structures are also included.

The resort has 18 RV sites and 12 rental campsites identified for redevelopment. A U.S. Forest Service, Sierra National Forest Commercial Use 133 Permit covers approximately 14.3 acres and authorizes resort and marina activities, including food service, retail sales, boat docks, boat rentals, and related facilities. The improvements include structures dating to the original 1922 compound, while the resort’s history traces to 1878. Food-service, retail, and liquor-sale licensing are also associated with the operation.

Key Highlights

• Approximately 11,500 square feet under roof across resort improvements
• Original 3,000‑square‑foot lodge with commercial kitchen and seating for approximately 50 guests
• 14 rental cabins, including lakefront and lake‑view accommodations

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$110,389

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.90%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,207,780 $2.2M

Cap Rate 7%

$1,576,986 $1.6M

Cap Rate 9%

$1,226,544 $1.2M

Market Conditions

NOI Build-Up for 11,500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$284.3K $24.72/SF

− Vacancy

−$51.9K −$4.51/SF

EGI

$232.4K $20.21/SF

− OpEx

−$122.0K −$10.61/SF

NOI

$110.4K $9.60/SF

Area

Fresno County, CA

Vacancy

18.25%

Lease Rate

$24.72 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,207,780

Cap Rate 7%

$1,576,986

Cap Rate 9%

$1,226,544

Alternative Uses

Best Use

Specialty Retail

$2.28M

$1.99M – $2.65M (±1% cap)

NOI $159,258 @ 7.0% cap · market cap 9.95%

Second Best

Hotel Hospitality

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,389 @ 7.0% cap · market cap 6.90%

Theoretical Best

Office A

$3.26M

$2.85M – $3.80M (±1% cap)

NOI $228,157 @ 7.0% cap · market cap 14.26%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Resorts

Lease Details

Turnkey business

Opportunity

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 93634, CA

55

Population

521

Households

0.1

Avg Household Size

41

Median Age

15%

College-Educated

100%

High-School Grad

1,162.3 sq mi

ZIP Area

$32,917

Median Earnings

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Resort - Mountain hospitality property with cabins, recreational sites, dining facilities, and permitted marina operations on Huntington Lake.

Where is this resort located?

The property is located at 61011 Cedar Crest Lane Lakeshore, CA.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Approximately 11,500 square feet under roof across resort improvements; Original 3,000‑square‑foot lodge with commercial kitchen and seating for approximately 50 guests; 14 rental cabins, including lakefront and lake‑view accommodations