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    Downtown Fresno Multi-Tenant Office Building Title is generated by Realmo AI

    190 N Van Ness Avenue, Fresno, CA 93701

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    Multi-tenant office building in Downtown Fresno, near medical center.

    Type:Office
    Property size:
    3,747 SF
    Price / SF:
    $160/SF
    Added:
    May 18, 2026
    Days on Market:
    14
    Last Refresh:
    May 20 at 4:58 am

    Property Features for 190 N Van Ness Avenue

    General Information

    Standard status
    Active
    Size
    3,747 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Jeff Kim

    Listing agent Jeff Kim License #CA 01456017

    Listing office Colliers - Fresno, California

    Listing date May 18, 2026

    Source Crexi

    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 Colliers - Fresno, California

    HighLights

    • Turnkey, income‑producing property with 92% occupancy (11 of 12 units leased).
    • Recently renovated building in the heart of Downtown Fresno.
    • Fully owned rooftop solar system significantly reduces utility expenses (36% year‑over‑year decrease).
    • Fenced on‑site parking lot.
    • Ideally sized office suites (198 to 342 SF) suitable for various professional users.
    • Close proximity to Community Regional Medical Center.

    Overview

    The property at 190 N Van Ness Avenue, known as 190 Van Ness Professional Office Suites, is a multi-tenant office building located at the corner of Van Ness and Nevada Avenues in Downtown Fresno, near Community Regional Medical Center. The building comprises twelve individual office suites, ranging in size from 198 to 342 square feet. These suites are suitable for small professional users in sectors such as legal, medical, beauty, education, and professional services. The building has been recently renovated and includes a fenced on-site parking lot and a fully owned rooftop solar system. The solar installation reduces utility expenses under the building's gross-lease structure, with utility costs declining approximately 36% year-over-year in the 2025 financials. The property is currently 92% leased, with 11 of 12 units occupied. The property offers investors a turnkey, income-producing opportunity, while providing an owner-occupier with the added benefit of offsetting ownership costs with in-place rental income. The property size is 3747 square feet.
    Location Intelligence

    Current Use by Public Records

    The Accident Guys Law Firm Quick Plates Vehicle ... Vehicle Inspection Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.7984868
    Latitude
    36.7457263

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    FAQs

    What type of property is this?
    Office building - Multi-tenant office building in Downtown Fresno, near medical center.
    Where is this office building located?
    The property is located at 190 N Van Ness Avenue Fresno, CA.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Turnkey, income‑producing property with **92% occupancy (11 of 12 units leased)**.; Recently renovated building in the heart of Downtown Fresno.; Fully owned rooftop solar system significantly reduces utility expenses (36% year‑over‑year decrease).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Kim
    Real Estate License ID: CA 01456017
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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