Two-Unit Flex
For Sale
$725,000
Pending
202 Van Ness Ave, Fresno, CA 93721
Light industrial property configured for owner occupancy, investment, or partial occupancy.
Property Size7,500 SF
Days on Market92
Property Features for 202 Van Ness Ave
General Information
Standard status
Pending
Size
7,500 SF
Building Details
Building Size
7,500 SF
Listing Agency:
Adanalian & Vasquez Real Estate, Inc.
(559) 284-4412
Listed By:
Aaron Vasquez · License #01406226
(559) 284-4412
Source:
Exprealty
Added: May 13
Changed: Aug 11
Last Checked: Aug 12 at 9:55AM
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 Adanalian & Vasquez Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 7,500-square-foot flex space at 202 Van Ness Ave is currently owner-occupied and arranged as two separate units. The configuration supports a range of operational and occupancy strategies, including continued owner use, partial occupancy, or use by multiple occupants. The property is positioned for warehouse, distribution, manufacturing, contractor, and service-related operations, subject to applicable requirements.
Access to major transportation corridors supports movement of personnel, materials, and goods. The existing two-unit layout provides a functional foundation for industrial users seeking separated areas within one building and for owners evaluating multi-tenant income or future expansion options.
Access to major transportation corridors supports movement of personnel, materials, and goods. The existing two-unit layout provides a functional foundation for industrial users seeking separated areas within one building and for owners evaluating multi-tenant income or future expansion options.
Key Highlights
- 7,500 square feet of flex space
- Building configured into two separate units
- Currently owner‑occupied
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
$55,106
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
7.60%
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%
$1,102,120
$1.1M
Cap Rate 7%
$787,229
$787.2K
Cap Rate 9%
$612,289
$612.3K
Market Conditions
NOI Build-Up for 7,500 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
$80.1K $10.68/SF
− Vacancy
−$1.4K −$0.18/SF
EGI
$78.7K $10.50/SF
− OpEx
−$23.6K −$3.15/SF
NOI
$55.1K $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%
$1,102,120
Cap Rate 7%
$787,229
Cap Rate 9%
$612,289
Alternative Uses
Best Use
Flex RnD
$1.43M
$1.25M – $1.67M
NOI $100,035 @ 7.0% cap · market cap 13.80%
Second Best
Warehouse
$955.9K
$836.4K – $1.12M
NOI $66,914 @ 7.0% cap · market cap 9.23%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,710 @ 7.0% cap · market cap 21.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,563
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93721, CA
7,899
Population
2,621
Households
3
Avg Household Size
35
Median Age
12%
College-Educated
69%
High-School Grad
2.0 sq mi
ZIP Area
3,950
Density / Sq Mi
$32,602
Median Household Income
$26,746
Median Earnings
$915
Median Rent
$219,000
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
- Sumtin' Ta Eat — 2039 Kern St, Fresno, CA 93721
- Fig & Honey Lavish Grazing — 938 Fulton St, Fresno, CA 93721
- I Craved Catering — 829 Fulton St, Fresno, CA 93721
Frequently Asked Questions
What type of property is this?
Flex space - Light industrial property configured for owner occupancy, investment, or partial occupancy.
Where is this flex space located?
The property is located at 202 Van Ness Ave 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: 7,500 square feet of flex space; Building configured into two separate units; Currently owner‑occupied
