19-Suite Office
For Sale
Contact for pricing
1589 W SHAW AVE, Fresno, CA 93711
Established professional tenancy occupies a multi-suite office property near Fresno’s West Shaw commercial corridor.
Property Size6,912 SF
Price / SF$217.01
Days on Market120
Property Features for 1589 W SHAW AVE
General Information
Standard status
Active
Size
6,912 SF
Class
B
Total Parking Spaces
30
Property subtype
Office
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$59,491
Additional Details
Highway Access
Yes
Office Units
19
Building Details
Year Built
2003
Stories
1
Units
19
Tenancy
Multi
Listing Agency:
Central California Real Estate Pros
(559) 320-0611
Listed By:
Jared Martin · License #01319553
Source:
Crexi
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 3:17AM
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 Central California Real Estate Pros
Investment Insights
Based on property information with market context.
Built in 2003, this 6,912-square-foot office building contains 19 professional suites configured for multi-tenant occupancy. Most tenants have remained in place for several years, providing an established tenancy profile within the property. The building is positioned in Fresno’s West Shaw submarket, near Fig Garden Village and minutes from Freeway 41. Its location places the property within an established office corridor with convenient regional access.
Key Highlights
- 6,912‑square‑foot office building completed in 2003
- 19 professional office suites
- Most tenants have occupied their suites for several years
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
$102,332
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
6.82%
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%
$2,046,640
$2.0M
Cap Rate 7%
$1,461,886
$1.5M
Cap Rate 9%
$1,137,022
$1.1M
Market Conditions
NOI Build-Up for 6,912 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
$145.2K $21.00/SF
− Vacancy
−$8.7K −$1.26/SF
EGI
$136.4K $19.74/SF
− OpEx
−$34.1K −$4.94/SF
NOI
$102.3K $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%
$2,046,640
Cap Rate 7%
$1,461,886
Cap Rate 9%
$1,137,022
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,332 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,581 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 93711, CA
37,901
Population
16,643
Households
2.3
Avg Household Size
43
Median Age
46%
College-Educated
93%
High-School Grad
11.2 sq mi
ZIP Area
3,384
Density / Sq Mi
$97,492
Median Household Income
$53,122
Median Earnings
$1,561
Median Rent
$469,800
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 - Established professional tenancy occupies a multi-suite office property near Fresno’s West Shaw commercial corridor.
Where is this office building located?
The property is located at 1589 W SHAW AVE Fresno, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,912‑square‑foot office building completed in 2003; 19 professional office suites; Most tenants have occupied their suites for several years
