Mixed-Use Property in Fresno,
For Sale
Contact for pricing
1808-1820 E McKinley, Fresno, CA 93705
Two buildings on a large lot with income potential.
Property Size23,200 SF
Lot Size0.89 Acres
Price / SF$80
Days on Market191
Property Features for 1808-1820 E McKinley
General Information
Standard status
Active
Size
23,200 SF
Lot size
0.89 Acres
Property subtype
Mixed Use
Zoning
RS-5
Listing Agency:
Newmark - Fresno
(559) 256-1700
Listed By:
Craig Holdener, CCIM · License #CA 01904352
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 8 at 2:56PM
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 - Fresno
Investment Insights
Based on property information with market context.
The property located at 1808–1820 E. McKinley Avenue, Fresno, CA 93705, features two freestanding buildings totaling approximately 23,200 square feet, situated on a 38,768 square foot lot. The front building, with approximately 13,000 square feet, is currently vacant and suitable for an owner-user or value-add investor. The rear building, offering 10,200 square feet, is currently leased and provides in-place income. The property is zoned NMX (Neighborhood Mixed-Use), allowing for a wide range of commercial and light industrial uses. Recent improvements to the vacant building include a new roof, gutters, roll-up door, and evaporative coolers.
Key Highlights
- Two freestanding buildings totaling approximately 23,200± SF.
- Vacant 13,000± SF front building ideal for owner‑user or value‑add investor. Recent improvements to the vacant building include a new roof, gutters, roll‑up door, and evaporative coolers.
- 10,200± SF rear building provides in‑place income.
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
$170,460
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
9.18%
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%
$3,409,200
$3.4M
Cap Rate 7%
$2,435,143
$2.4M
Cap Rate 9%
$1,894,000
$1.9M
Market Conditions
NOI Build-Up for 23,200 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
$247.8K $10.68/SF
− Vacancy
−$4.3K −$0.18/SF
EGI
$243.5K $10.50/SF
− OpEx
−$73.1K −$3.15/SF
NOI
$170.5K $7.35/SF
Area
Fresno, CA
Vacancy
1.72%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
30.00%
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%
$3,409,200
Cap Rate 7%
$2,435,143
Cap Rate 9%
$1,894,000
Alternative Uses
Best Use
Mixed Use
$4.42M
$3.86M – $5.15M
NOI $309,111 @ 7.0% cap · market cap 16.65%
Second Best
Industrial
$2.44M
$2.13M – $2.84M
NOI $170,460 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$6.84M
$5.98M – $7.98M
NOI $478,570 @ 7.0% cap · market cap 25.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 93705, CA
38,125
Population
13,408
Households
2.8
Avg Household Size
31
Median Age
16%
College-Educated
75%
High-School Grad
4.9 sq mi
ZIP Area
7,781
Density / Sq Mi
$55,152
Median Household Income
$35,979
Median Earnings
$1,254
Median Rent
$281,300
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?
Mixed-use property - Two buildings on a large lot with income potential.
Where is this mixed-use property located?
The property is located at 1808-1820 E McKinley Fresno, CA.
What is the asking price?
The asking price for this property is $1,856,000.
What are key features of this property?
This property features: Two freestanding buildings totaling approximately 23,200± SF.; Vacant 13,000± SF front building ideal for owner‑user or value‑add investor. Recent improvements to the vacant building include a new roof, gutters, roll‑up door, and evaporative coolers.; 10,200± SF rear building provides in‑place income.
