Office Building With Private
For Sale
$210,000
2624 E Olive, Fresno, CA 93701
Commercially converted building with rooftop AC, tile flooring, and accessible entry.
Property Size992 SF
Days on Market263
Property Features for 2624 E Olive
General Information
Standard status
Active
Size
992 SF
Property subtype
Commercial
Zoning
CG
Building Details
Building Size
992 SF
Year Built
1924
Stories
1
Listing Agency:
Paramount Properties
(559) 260-8497
Listed By:
Joseph Chimienti · License #01947112
(559) 260-8497
Source:
Coalingamidstaterealty
Added: Dec 4, 2025
Changed: Aug 20
Last Checked: Aug 23 at 12:41PM
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 Paramount Properties
Investment Insights
Based on property information with market context.
This office building occupies a former single-family residence that has been converted to commercial use. The interior includes a large waiting room, three private offices with sinks, a kitchen area, storage room, tile flooring, and 1 1/2 bathrooms. A new AC unit is installed on the roof.
The rear concrete parking lot accommodates up to 8 vehicles and includes a handicap parking space. A handicap ramp provides entry to the building. The property is zoned CG, and the building was constructed in 1924. The county should be consulted regarding permitted CG uses and any potential conversion back to residential zoning.
The rear concrete parking lot accommodates up to 8 vehicles and includes a handicap parking space. A handicap ramp provides entry to the building. The property is zoned CG, and the building was constructed in 1924. The county should be consulted regarding permitted CG uses and any potential conversion back to residential zoning.
Key Highlights
- Three private offices with sinks
- Large waiting room, kitchen area, storage room, and 1 1/2 bathrooms
- New AC unit on the roof and tile floors throughout
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
$14,687
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
6.99%
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%
$293,740
$293.7K
Cap Rate 7%
$209,814
$209.8K
Cap Rate 9%
$163,189
$163.2K
Market Conditions
NOI Build-Up for 992 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
$20.8K $21.00/SF
− Vacancy
−$1.2K −$1.26/SF
EGI
$19.6K $19.74/SF
− OpEx
−$4.9K −$4.94/SF
NOI
$14.7K $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%
$293,740
Cap Rate 7%
$209,814
Cap Rate 9%
$163,189
Alternative Uses
Best Use
Office B
$209.8K
$183.6K – $244.8K
NOI $14,687 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$292.3K
$255.8K – $341.1K
NOI $20,463 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
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?
Office building - Commercially converted building with rooftop AC, tile flooring, and accessible entry.
Where is this office building located?
The property is located at 2624 E Olive Fresno, CA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Three private offices with sinks; Large waiting room, kitchen area, storage room, and 1 1/2 bathrooms; New AC unit on the roof and tile floors throughout
