Gated Flex Space
For Sale
Contact for pricing
1938 E Belmont Ave, Fresno, CA 93701
Corner-lot property with office and warehouse improvements under flexible NMX zoning.
Property Size2,010 SF
Lot Size0.37 Acres
Price / SF$174.13
Days on Market15
Property Features for 1938 E Belmont Ave
General Information
Standard status
Active
Size
2,010 SF
Lot size
0.37 Acres
Property subtype
RETAIL
Zoning
NMX
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Building Size
2,010 SF
Listing Agency:
Colliers | Fresno
(559) 862-3229
Listed By:
Brandon Takemoto · License #01902869
(559) 862-3229
Source:
Moodyscre
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 2 at 8:01AM
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
Investment Insights
Based on property information with market context.
This flex space property includes approximately 2,010 square feet of improvements on an approximately 0.37-acre lot. The site combines office and warehouse buildings, offering a configuration suited to an owner-user seeking space for business operations. A fully gated perimeter adds controlled site access, while the corner-lot layout provides a distinct physical position within the surrounding area.
The property is located near Highways 41 and 180, providing access to established regional transportation routes. Flexible NMX—Neighborhood Mixed Use zoning supports the property’s combined office and warehouse profile, subject to applicable regulations.
The property is located near Highways 41 and 180, providing access to established regional transportation routes. Flexible NMX—Neighborhood Mixed Use zoning supports the property’s combined office and warehouse profile, subject to applicable regulations.
Key Highlights
- Approximately 2,010 SF of building area
- Approximately 0.37‑acre corner lot
- Office and warehouse buildings
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
$29,758
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
8.50%
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%
$595,160
$595.2K
Cap Rate 7%
$425,114
$425.1K
Cap Rate 9%
$330,644
$330.6K
Market Conditions
NOI Build-Up for 2,010 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
$42.2K $21.00/SF
− Vacancy
−$2.5K −$1.26/SF
EGI
$39.7K $19.74/SF
− OpEx
−$9.9K −$4.94/SF
NOI
$29.8K $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%
$595,160
Cap Rate 7%
$425,114
Cap Rate 9%
$330,644
Alternative Uses
Best Use
Office B
$425.1K
$372.0K – $496.0K
NOI $29,758 @ 7.0% cap · market cap 8.50%
Second Best
Flex RnD
$383.0K
$335.1K – $446.8K
NOI $26,809 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$592.3K
$518.3K – $691.0K
NOI $41,462 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,577
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
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?
Flex space - Corner-lot property with office and warehouse improvements under flexible NMX zoning.
Where is this flex space located?
The property is located at 1938 E Belmont Ave Fresno, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 2,010 SF of building area; Approximately 0.37‑acre corner lot; Office and warehouse buildings
