Concrete Flex
For Sale
$725,000
1824 E McKinley Avenue, Fresno, CA 93703
NMX zoning supports industrial, commercial, and potential live-work use.
Property Size5,720 SF
Price / SF$126.75
Days on Market235
Property Features for 1824 E McKinley Avenue
General Information
Standard status
Active
Size
5,720 SF
Property subtype
Commercial
Zoning
NMX
Building Details
Building Size
5,720 SF
Year Built
1966
Stories
2
Construction
concrete
Listing Agency:
Iron Key Real Estate
(559) 905-1430
Listed By:
Mark A Kazanjian · License #01167371
(559) 905-1430
Source:
Coalingamidstaterealty
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 8:42PM
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 Iron Key Real Estate
Investment Insights
Based on property information with market context.
This 5,720-square-foot flex property in Central Fresno combines an open interior with durable concrete construction. The layout can be configured for a range of business operations, while the NMX zoning supports industrial, commercial, and potential live-work applications. A possible living area is also identified within the building.
Built in 1966, the property includes on-site parking for staff, visitors, fleet vehicles, or equipment. Its position in Fresno’s established industrial corridor provides access to major transportation routes and supports efficient movement for business operations. The property is located at 1824 E McKinley Avenue.
Built in 1966, the property includes on-site parking for staff, visitors, fleet vehicles, or equipment. Its position in Fresno’s established industrial corridor provides access to major transportation routes and supports efficient movement for business operations. The property is located at 1824 E McKinley Avenue.
Key Highlights
- 5,720 SF flex property in Central Fresno
- NMX zoning supports industrial, commercial, and potential live‑work use
- Durable concrete construction, built in 1966
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
$51,033
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
7.04%
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%
$1,020,660
$1.0M
Cap Rate 7%
$729,043
$729.0K
Cap Rate 9%
$567,033
$567.0K
Market Conditions
NOI Build-Up for 5,720 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
$61.1K $10.68/SF
− Vacancy
−$1.1K −$0.18/SF
EGI
$60.0K $10.50/SF
− OpEx
−$9.0K −$1.57/SF
NOI
$51.0K $8.92/SF
Area
Fresno, CA
Vacancy
1.72%
Lease Rate
$10.68 /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%
$1,020,660
Cap Rate 7%
$729,043
Cap Rate 9%
$567,033
Alternative Uses
Best Use
Flex RnD
$1.09M
$953.7K – $1.27M
NOI $76,293 @ 7.0% cap · market cap 10.52%
Second Best
Mixed Use
$1.09M
$952.7K – $1.27M
NOI $76,212 @ 7.0% cap · market cap 10.51%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,992 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93703, CA
34,840
Population
11,155
Households
3.1
Avg Household Size
31
Median Age
9%
College-Educated
72%
High-School Grad
4.8 sq mi
ZIP Area
7,258
Density / Sq Mi
$43,236
Median Household Income
$30,359
Median Earnings
$1,204
Median Rent
$250,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- San Joaquin Catering — 2011 E Lewis Ave, Fresno, CA 93701
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Frequently Asked Questions
What type of property is this?
Flex space - NMX zoning supports industrial, commercial, and potential live-work use.
Where is this flex space located?
The property is located at 1824 E McKinley Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 5,720 SF flex property in Central Fresno; NMX zoning supports industrial, commercial, and potential live‑work use; Durable concrete construction, built in 1966
