Historic Office
1520 E OLIVE AVE, Fresno, CA 93728
For Sale
Contact for pricing
Two neighboring office properties are fully leased under four NNN agreements.
Property Size4,899 SF
Lot Size0.52 Acres
Price / SF$234.74
Days on Market28
Property Features for 1520 E OLIVE AVE
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Road Access
Additional Details
Gross Income
Office Units
Tenant in Place
Property Use
Amenities
reception area
conference/dining room
kitchen
upstairs accommodations
basement
detached converted studio
Building Details
Buildings
Tenancy
Owner Occupied
Listing Agency:
Real Broker
Listed By:
Aram Melikian · License CA #01891038
(559) 281-4174
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 4:33PM
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
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Investment Insights
Based on property information with market context.
The offering combines two adjoining office properties totaling approximately 4,899 SF of building area on 22,503 SF of land. The 1520 E. Olive Avenue building is the historic Paul Kindler House, listed on the National Register of Historic Places, with offices, reception space, a conference/dining room, kitchen, upstairs accommodations, basement, and a detached converted studio. At 1502 E. Olive Avenue, three professional suites each have a reception area, three private offices, a break room, and a restroom. Parking includes gated spaces behind the buildings, driveway and street parking at the front, and dedicated on-site parking at 1502.
Both properties are 100% occupied through four NNN leases. Three leases call for contracted rent increases beginning in 2027, and tenants are responsible for property repairs and maintenance. Improvements include replaced roofs and updated HVAC systems.
The properties front Olive Avenue in Fresno’s Tower District, near the Tower Theatre, Roger Rocka’s Dinner Theater, restaurants, breweries, and entertainment venues. Zoning is CMS with an AH Overlay.
Both properties are 100% occupied through four NNN leases. Three leases call for contracted rent increases beginning in 2027, and tenants are responsible for property repairs and maintenance. Improvements include replaced roofs and updated HVAC systems.
The properties front Olive Avenue in Fresno’s Tower District, near the Tower Theatre, Roger Rocka’s Dinner Theater, restaurants, breweries, and entertainment venues. Zoning is CMS with an AH Overlay.
Key Highlights
- Approximately 4,899 SF of building area on 22,503 SF of combined land
- Two adjacent office properties at 1502 and 1520 E. Olive Avenue
- 100% occupied across four NNN leases; three leases have rent increases starting in 2027
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.
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Current Use
Lease Details
4
Office units
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
$239,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Fresno, CA
Properties on Market for Office buildings in Fresno
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two neighboring office properties are fully leased under four NNN agreements.
Where is this office building located?
The property is located at 1520 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: Approximately 4,899 SF of building area on 22,503 SF of combined land; Two adjacent office properties at 1502 and 1520 E. Olive Avenue; 100% occupied across four NNN leases; three leases have rent increases starting in 2027
