Blackstone Avenue Commercial
For Sale
Contact for pricing
2804 North Blackstone Avenue, Fresno, CA 93703
Well-maintained commercial property on Blackstone Avenue with income potential.
Property Size3,237 SF
Price / SF$152.92
Days on Market83
Property Features for 2804 North Blackstone Avenue
General Information
Standard status
Active
Size
3,237 SF
Property subtype
Retail, Office
Zoning
NMX
Building Details
Year Built
1956
Listing Agency:
Fortune Associates
(559) 490-2500
Listed By:
Brandon Lamonica · License #CA 01317857
Source:
Crexi
Added: May 20
Changed: Aug 7
Last Checked: Aug 10 at 11:05AM
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 Fortune Associates
Investment Insights
Based on property information with market context.
Located on the highly traveled Blackstone corridor at 2804 North Blackstone Avenue, this well-maintained commercial property is an income-producing asset. It features strong in-place tenancy with one remaining vacancy, presenting an opportunity for investors and owner-users seeking stable cash flow with upside potential. The property offers individually metered utilities, allowing for efficient expense management and simplified tenant billing. The site includes 8 dedicated parking stalls, providing convenient on-site parking for tenants and customers. The property size is 3237 square feet.
Key Highlights
- Located on the highly traveled Blackstone corridor.
- Income‑producing property with strong in‑place tenancy.
- Opportunity for investors and owner‑users.
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
$37,931
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
7.66%
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%
$758,620
$758.6K
Cap Rate 7%
$541,871
$541.9K
Cap Rate 9%
$421,456
$421.5K
Market Conditions
NOI Build-Up for 3,237 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
$58.3K $18.00/SF
− Vacancy
−$4.1K −$1.26/SF
EGI
$54.2K $16.74/SF
− OpEx
−$16.3K −$5.02/SF
NOI
$37.9K $11.72/SF
Area
Fresno, CA
Vacancy
7.00%
Lease Rate
$18.00 /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%
$758,620
Cap Rate 7%
$541,871
Cap Rate 9%
$421,456
Alternative Uses
Best Use
Retail
$541.9K
$474.1K – $632.2K
NOI $37,931 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$953.9K
$834.7K – $1.11M
NOI $66,773 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
223k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Groceries 17%
Shops & Services 11%
Dutch Bros. Coffee
Dining
49,136 visits/mo
0.3 miles
Smart & Final
Groceries
37,081 visits/mo
0.2 miles
Taco Bell
Dining
28,297 visits/mo
0.3 miles
Starbucks
Dining
25,010 visits/mo
0.2 miles
Jack in the Box
Dining
16,974 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Well-maintained commercial property on Blackstone Avenue with income potential.
Where is this retail property located?
The property is located at 2804 North Blackstone Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Located on the highly traveled Blackstone corridor.; Income‑producing property with strong in‑place tenancy.; Opportunity for investors and owner‑users.
