Historic Office
New
For Sale
$1,150,000
1502 E Olive Ave, Fresno, CA 93728
Two adjacent properties combine a National Register-listed building with separately leased professional suites.
Property Size4,899 SF
Lot Size0.52 Acres
Price / SF$234.74
Days on Market3
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 1502 E Olive Ave
General Information
Standard status
Active
Size
4,899 SF
Lot size
0.52 Acres
Zoning
CMS
Occupancy
100%
Additional Details
Gross Income
$80,400
Road Access
Yes
Building Details
Buildings
2
Building Size
4,899 SF
Tenancy
Multi
Listing Agency:
Real Broker
(619) 248-6434
Listed By:
Aram J. Melikian · License #01891038
(559) 281-4174
Source:
Exprealty
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 2:44AM
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 Real Broker
Investment Insights
Based on property information with market context.
Two office properties at 1502 and 1520 E. Olive Avenue offer approximately 4,899 SF of building area on 22,503 SF of combined land. The Paul Kindler House at 1520 E. Olive Avenue is listed on the National Register of Historic Places and includes multiple offices, a reception area, a conference/dining room, kitchen, upstairs accommodations, basement, and detached converted studio. The neighboring property contains three professional office suites, each with a reception area, three private offices, break room, and restroom. Parking includes gated space behind the historic building, driveway and street parking in front, and dedicated on-site spaces at the neighboring property.
Both properties are 100% occupied under four NNN leases. Three leases include contracted rent increases beginning in 2027. Recent work includes roof replacement and HVAC updates; the properties also have clear pest certifications and roof inspections with roof certifications. Zoning is CMS with an AH Overlay.
The properties front Olive Avenue in Fresno’s Tower District, near the Tower Theatre, Roger Rocka’s Dinner Theater, restaurants, breweries, and entertainment venues.
Both properties are 100% occupied under four NNN leases. Three leases include contracted rent increases beginning in 2027. Recent work includes roof replacement and HVAC updates; the properties also have clear pest certifications and roof inspections with roof certifications. Zoning is CMS with an AH Overlay.
The properties front Olive Avenue in Fresno’s Tower District, near the Tower Theatre, Roger Rocka’s Dinner Theater, restaurants, breweries, and entertainment venues.
Key Highlights
- Two adjacent office properties with approximately 4,899 SF on 22,503 SF of combined land
- Historic Paul Kindler House is listed on the National Register of Historic Places
- Neighboring building has three office suites, each with reception, three private offices, break room, and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,530
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,450,600
$1.5M
Cap Rate 7%
$1,036,143
$1.0M
Cap Rate 9%
$805,889
$805.9K
Market Conditions
NOI Build-Up for 4,899 SF
Gross rent
$102.9K $21.00/SF
− Vacancy
−$6.2K −$1.26/SF
EGI
$96.7K $19.74/SF
− OpEx
−$24.2K −$4.94/SF
NOI
$72.5K $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 Rate 5%
$1,450,600
Cap Rate 7%
$1,036,143
Cap Rate 9%
$805,889
Alternative Uses
Best Use
Office B
$1.04M
$906.6K – $1.21M
NOI $72,530 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,057 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 93728, CA
16,191
Population
6,878
Households
2.4
Avg Household Size
35
Median Age
18%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
5,397
Density / Sq Mi
$52,809
Median Household Income
$34,696
Median Earnings
$1,243
Median Rent
$239,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two adjacent properties combine a National Register-listed building with separately leased professional suites.
Where is this office building located?
The property is located at 1502 E Olive Ave Fresno, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two adjacent office properties with approximately 4,899 SF on 22,503 SF of combined land; Historic Paul Kindler House is listed on the National Register of Historic Places; Neighboring building has three office suites, each with reception, three private offices, break room, and restroom
