Building Details

Building Size 1,995 SF

Year Built 2009

Listing Agency: Newmark Pearson Commercial | Fresno n***@pearsonrealty.com Show Phone

Listed By: Nick Sorensen · License #CalDRE #02081137

Source: Newmarkpearson

Added: Jun 29 Changed: Aug 13 Last Checked: Aug 16 at 3:37AM

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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 Newmark Pearson Commercial | Fresno

Investment Insights

Based on property information with market context.

This for-sale industrial office warehouse includes open office space alongside a warehouse area with two grade-level doors. The property is designed for day-to-day operational flexibility, with office and warehouse space in the same building footprint. It also features a gated yard and a parking lot to support vehicle storage and tenant access.

The property is located just south of Millerton Lake on Friant Road. On-site improvements include alarm and security cameras, which can be useful for an operator looking to secure both the building and outdoor areas.

For buyers or tenants seeking a functional office-and-warehouse arrangement, the existing configuration supports businesses that need administrative space as well as straightforward loading access via grade-level doors. The gated yard and on-site parking provide additional utility for equipment staging, storage, and daily logistics, while the installed security systems add another practical layer for site protection.

Key Highlights

• 2009‑built office/warehouse with open office space and warehouse area
• Warehouse includes two grade‑level doors
• Gated yard space and parking lot included

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

$31,311

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

4.17%

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%

$626,220 $626.2K

Cap Rate 7%

$447,300 $447.3K

Cap Rate 9%

$347,900 $347.9K

Market Conditions

NOI Build-Up for 1,995 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

$39.0K $19.56/SF

− Vacancy

−$2.2K −$1.10/SF

EGI

$36.8K $18.46/SF

− OpEx

−$5.5K −$2.77/SF

NOI

$31.3K $15.69/SF

Area

Fresno County, CA

Vacancy

5.60%

Lease Rate

$19.56 /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%

$626,220

Cap Rate 7%

$447,300

Cap Rate 9%

$347,900

Alternative Uses

Best Use

Warehouse

$447.3K

$391.4K – $521.9K (±1% cap)

NOI $31,311 @ 7.0% cap · market cap 4.17%

Second Best

Industrial

$368.4K

$322.3K – $429.8K (±1% cap)

NOI $25,786 @ 7.0% cap · market cap 3.44%

Theoretical Best

Office A

$565.4K

$494.8K – $659.7K (±1% cap)

NOI $39,580 @ 7.0% cap · market cap 5.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

TACOBS CONSTRUCTION General Contractor

Lease Details

2

Drive-in doors

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 93626, CA

2,132

Population

1,260

Households

1.7

Avg Household Size

46

Median Age

47%

College-Educated

96%

High-School Grad

99.5 sq mi

ZIP Area

21

Density / Sq Mi

$149,565

Median Household Income

$75,423

Median Earnings

$1,176

Median Rent

$594,800

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flex-style setup combines open office space with a warehouse served by two grade-level doors and gated yard parking.

Where is this flex space located?

The property is located at 17199 N Friant Road Friant, CA.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 2009‑built office/warehouse with open office space and warehouse area; Warehouse includes two grade‑level doors; Gated yard space and parking lot included