Freestanding Industrial Flex
For Sale
$4,950,000
2645 S Chestnut Ave, Fresno, CA 93725
Freestanding flex property combining remodeled office and showroom areas with an insulated warehouse and heavy-power infrastructure.
Property Size51,300 SF
Lot Size4.99 Acres
Price / SF$96.49
Days on Market193
Property Features for 2645 S Chestnut Ave
General Information
Standard status
Active
Size
51,300 SF
Class
B
Total Parking Spaces
86
Lot size
4.99 Acres
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
37,600 SF
Office Build-Out
6,500 SF
Drive-In Doors
6
Power
1,600 amps
Heavy Power
Yes
Sprinkler System
Yes
Building Details
Building Size
51,300 SF
Year Built
1981
Buildings
1
Construction
steel beam metal
Properties For Sale
at 2645 S Chestnut Ave Contact us- Size
- 51,300 SF
- Lease Type
- NNN
2645 S Chestnut Ave
Listing Agency:
KW Commercial - Central California
(559) 705-1000
Listed By:
Jared Ennis
(559) 705-1000
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 7:40PM
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 KW Commercial - Central California
Investment Insights
Based on property information with market context.
This freestanding flex property includes approximately 51,300 SF within a steel-beam metal building on approximately 4.05 AC, plus approximately 0.94 AC of expansion land. The improvements comprise approximately 13,700 SF of remodeled office and showroom space and approximately 37,600 SF of insulated warehouse area. The front portion includes an open retail area, private offices, conference rooms, restrooms, lounge areas, storage, and support spaces. Warehouse features include 20-foot ceilings, 15-foot eaves, skylights, coolers, Reznor heaters, six roll-up doors, a portable truck dock, mezzanine racking, and video surveillance. The property also provides 1,600 amps of heavy power, 220V connections in the former machine-shop area, and a fire suppression system with a 250 PSI, 6-inch main and 2.5-inch distribution.
The site has 86 parking spaces and full chain-link electric-fence monitoring. Flexible heavy industrial zoning supports a range of industrial uses. Access to CA-99 is available via Jensen Ave, with an upgraded North Ave interchange in process. The property is located in Fresno, California, near the Fresno Yosemite International Airport and the Highway 180 corridor.
The site has 86 parking spaces and full chain-link electric-fence monitoring. Flexible heavy industrial zoning supports a range of industrial uses. Access to CA-99 is available via Jensen Ave, with an upgraded North Ave interchange in process. The property is located in Fresno, California, near the Fresno Yosemite International Airport and the Highway 180 corridor.
Key Highlights
- Approximately 51,300 SF building on approximately 4.05 AC plus approximately 0.94 AC of expansion land
- Approximately 13,700 SF remodeled office/showroom and approximately 37,600 SF insulated warehouse
- 20‑foot warehouse ceilings with 15‑foot eaves, skylights, coolers, and Reznor heaters
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
$376,922
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
7.61%
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%
$7,538,440
$7.5M
Cap Rate 7%
$5,384,600
$5.4M
Cap Rate 9%
$4,188,022
$4.2M
Market Conditions
NOI Build-Up for 51,300 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
$547.9K $10.68/SF
− Vacancy
−$9.4K −$0.18/SF
EGI
$538.5K $10.50/SF
− OpEx
−$161.5K −$3.15/SF
NOI
$376.9K $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%
$7,538,440
Cap Rate 7%
$5,384,600
Cap Rate 9%
$4,188,022
Alternative Uses
Best Use
Office B
$10.85M
$9.49M – $12.66M
NOI $759,497 @ 7.0% cap · market cap 15.34%
Second Best
Flex RnD
$9.77M
$8.55M – $11.40M
NOI $684,239 @ 7.0% cap · market cap 13.82%
Theoretical Best
Office A
$15.12M
$13.23M – $17.64M
NOI $1,058,216 @ 7.0% cap · market cap 21.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
6
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93725, CA
26,162
Population
6,998
Households
3.7
Avg Household Size
30
Median Age
13%
College-Educated
68%
High-School Grad
67.0 sq mi
ZIP Area
390
Density / Sq Mi
$71,099
Median Household Income
$34,943
Median Earnings
$1,222
Median Rent
$262,400
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 - Freestanding flex property combining remodeled office and showroom areas with an insulated warehouse and heavy-power infrastructure.
Where is this flex space located?
The property is located at 2645 S Chestnut Ave Fresno, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Approximately 51,300 SF building on approximately 4.05 AC plus approximately 0.94 AC of expansion land; Approximately 13,700 SF remodeled office/showroom and approximately 37,600 SF insulated warehouse; 20‑foot warehouse ceilings with 15‑foot eaves, skylights, coolers, and Reznor heaters
