Office Building with Flexible
For Sale
$2,995,000
1122 S St, Fresno, CA 93721
Multi-use office building for sale with a substantial footprint and flexible layout potential in a central downtown setting.
Property Size11,554 SF
Days on Market133
Property Features for 1122 S St
General Information
Standard status
Active
Size
11,554 SF
Class
C
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
11,554 SF
Year Built
1972
Listing Agency:
Fortune Associates
Listed By:
Brett Todd · License #01912244
(559) 256-2449
Source:
Commercialcafe
Added: May 9
Changed: Sep 13
Last Checked: Sep 18 at 4:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fortune Associates
Investment Insights
Based on property information with market context.
This property is an office building with a substantial footprint and flexible layout potential, suited for a range of office, creative, or mixed-use applications. For sale as an owner-user or investment opportunity, the building is positioned to accommodate different occupancy and operating needs based on how the space is configured.
The property benefits from convenient access to major thoroughfares and public transportation, with a wide range of nearby amenities including dining, retail, and professional services. Its central location supports visibility and accessibility within Fresno’s growing business community.
Located at 1122 S Street, the asset is described as well-suited for companies seeking a centrally connected setting with proximity to other businesses and services.
The property benefits from convenient access to major thoroughfares and public transportation, with a wide range of nearby amenities including dining, retail, and professional services. Its central location supports visibility and accessibility within Fresno’s growing business community.
Located at 1122 S Street, the asset is described as well-suited for companies seeking a centrally connected setting with proximity to other businesses and services.
Key Highlights
- Multi‑use office building for sale at 1122 S Street in downtown Fresno
- Substantial building footprint
- Flexible layout potential for office, creative, or mixed‑use applications
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
$171,057
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
5.71%
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%
$3,421,140
$3.4M
Cap Rate 7%
$2,443,671
$2.4M
Cap Rate 9%
$1,900,633
$1.9M
Market Conditions
NOI Build-Up for 11,554 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
$242.6K $21.00/SF
− Vacancy
−$14.6K −$1.26/SF
EGI
$228.1K $19.74/SF
− OpEx
−$57.0K −$4.94/SF
NOI
$171.1K $14.81/SF
Area
Fresno, CA
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,421,140
Cap Rate 7%
$2,443,671
Cap Rate 9%
$1,900,633
Alternative Uses
Best Use
Office B
$2.44M
$2.14M – $2.85M
NOI $171,057 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,336 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,905
Businesses Nearby
Explore this area
Business Placement
Demographics for 93721, CA
7,899
Population
2,621
Households
3
Avg Household Size
35
Median Age
12%
College-Educated
69%
High-School Grad
2.0 sq mi
ZIP Area
3,950
Density / Sq Mi
$32,602
Median Household Income
$26,746
Median Earnings
$915
Median Rent
$219,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-use office building for sale with a substantial footprint and flexible layout potential in a central downtown setting.
Where is this office building located?
The property is located at 1122 S St Fresno, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Multi‑use office building for sale at 1122 S Street in downtown Fresno; Substantial building footprint; Flexible layout potential for office, creative, or mixed‑use applications
