Church Property with Detached
New
For Sale
$350,000
117 E Lemon Avenue, Fresno, CA 93706
Two parcels include a front worship space and a separate rear building supporting storage and children’s programming.
Property Size1,414 SF
Price / SF$247.52
Days on Market4
Property Features for 117 E Lemon Avenue
General Information
Standard status
Active
Size
1,414 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1944
Buildings
2
Listing Agency:
Aleman Realty
(559) 351-8895
Listed By:
Hector Aleman · License #DRE #01789122
(559) 351-8895
Source:
Exitrealty
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 12:25PM
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 Aleman Realty
Investment Insights
Based on property information with market context.
This Fresno church property includes two parcels and a front sanctuary configured for gatherings of up to 90 guests. A separate rear building adds functional space for current community and educational activities, including food distribution storage and children’s Sunday school. The detached structure was previously used as a residence and is now serving a warehouse function. The property at 117 E Lemon Avenue was built in 1944.
Key Highlights
- Two‑parcel church property at 117 E Lemon Avenue, Fresno, CA 93706
- Front sanctuary accommodates up to 90 guests
- Detached rear building currently used for food giveaway storage and children’s Sunday school
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
$12,616
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
3.60%
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%
$252,320
$252.3K
Cap Rate 7%
$180,229
$180.2K
Cap Rate 9%
$140,178
$140.2K
Market Conditions
NOI Build-Up for 1,414 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
$15.1K $10.68/SF
− Vacancy
−$260 −$0.18/SF
EGI
$14.8K $10.50/SF
− OpEx
−$2.2K −$1.57/SF
NOI
$12.6K $8.92/SF
Area
Fresno, CA
Vacancy
1.72%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
15.00%
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%
$252,320
Cap Rate 7%
$180,229
Cap Rate 9%
$140,178
Alternative Uses
Best Use
Warehouse
$180.2K
$157.7K – $210.3K
NOI $12,616 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$416.7K
$364.6K – $486.1K
NOI $29,168 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 93706, CA
40,965
Population
12,239
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
62%
High-School Grad
158.5 sq mi
ZIP Area
258
Density / Sq Mi
$40,023
Median Household Income
$28,495
Median Earnings
$1,129
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Two parcels include a front worship space and a separate rear building supporting storage and children’s programming.
Where is this church & religious facility located?
The property is located at 117 E Lemon Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑parcel church property at 117 E Lemon Avenue, Fresno, CA 93706; Front sanctuary accommodates up to 90 guests; Detached rear building currently used for food giveaway storage and children’s Sunday school
