Steel Warehouse With Expansion
New
For Sale
Contact for pricing
2021 E Home Avenue, Fresno, CA 93703
Steel industrial building with roll-up access, office space, open storage, and additional commercial land.
Property Size2,400 SF
Price / SF$322.92
Days on Market6
Property Features for 2021 E Home Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Special Purpose
Building Details
Buildings
1
Building Size
2,400 SF
Construction
steel
Listing Agency:
Century 21 Cheney Enterprises
Listed By:
Greg Cheney · License #01711619
Source:
Crexi
Added: Sep 5
Changed: Sep 9
Last Checked: Sep 10 at 9:15AM
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 Century 21 Cheney Enterprises
Investment Insights
Based on property information with market context.
Located at 2021 E Home Avenue in Fresno, California, this industrial property includes an approximately 2,400-square-foot steel warehouse on just under 1 acre of commercial land. The building offers an open bay area, two large roll-up doors, and a separate office, providing a practical layout for storage, fabrication, equipment use, or other industrial operations supported by the existing improvements.
Plans are in place for an additional approximately 12,000-square-foot steel building, creating a defined path for future expansion. The property also includes usable yard area beyond the existing structure. Listed uses in the property information include automotive operations, contracting, manufacturing or fabrication, and equipment or material storage.
Plans are in place for an additional approximately 12,000-square-foot steel building, creating a defined path for future expansion. The property also includes usable yard area beyond the existing structure. Listed uses in the property information include automotive operations, contracting, manufacturing or fabrication, and equipment or material storage.
Key Highlights
- Approximately 2,400 sq. ft. steel warehouse on just under 1 acre of commercial land
- Two large roll‑up doors serve the open bay area
- Separate office included within the warehouse building
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
$32,011
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
4.13%
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%
$640,220
$640.2K
Cap Rate 7%
$457,300
$457.3K
Cap Rate 9%
$355,678
$355.7K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$2.6K −$1.08/SF
EGI
$49.2K $20.52/SF
− OpEx
−$17.2K −$7.18/SF
NOI
$32.0K $13.34/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$640,220
Cap Rate 7%
$457,300
Cap Rate 9%
$355,678
Alternative Uses
Best Use
Flex RnD
$457.3K
$400.1K – $533.5K
NOI $32,011 @ 7.0% cap · market cap 4.13%
Second Best
Warehouse
$305.9K
$267.7K – $356.9K
NOI $21,412 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel industrial building with roll-up access, office space, open storage, and additional commercial land.
Where is this warehouse located?
The property is located at 2021 E Home Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Approximately 2,400 sq. ft. steel warehouse on just under 1 acre of commercial land; Two large roll‑up doors serve the open bay area; Separate office included within the warehouse building
