Shopping Center Near National
New
For Sale
Contact for pricing
285 W El Paso Ave, Fresno, CA 93711
Shopping center positioned among Target, HomeGoods, Best Buy, Macy’s, REI, Ulta, Old Navy, Regal Cinemas, and Costco.
Property Size21,138 SF
Price / SF$222.35
Days on Market5
Property Features for 285 W El Paso Ave
General Information
Standard status
Active
Size
21,138 SF
Property subtype
RETAIL
Listing Agency:
Retail California Commercial Real Estate
(559) 447-6235
Listed By:
Lewis Smith · License #01214178
(559) 447-6235
Source:
Moodyscre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 23 at 3:05AM
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 Retail California Commercial Real Estate
Investment Insights
Based on property information with market context.
The shopping center at 285 W El Paso Ave in Fresno, California, contains 21,138 square feet of commercial space. The property is surrounded by national retailers including Target, HomeGoods, Best Buy, Macy’s, REI, Ulta, Old Navy, Regal Cinemas, and Costco.
The surrounding area includes office, medical, and residential neighborhoods, with the source information describing the residential component as affluent. This setting places the property within a broader commercial environment supported by nearby retail, employment, medical, and residential uses.
The surrounding area includes office, medical, and residential neighborhoods, with the source information describing the residential component as affluent. This setting places the property within a broader commercial environment supported by nearby retail, employment, medical, and residential uses.
Key Highlights
- 21,138‑square‑foot shopping center at 285 W El Paso Ave, Fresno, CA 93711
- Surrounded by Target, HomeGoods, Best Buy, Macy’s, REI, Ulta, Old Navy, Regal Cinemas, and Costco
- Nearby office, medical, and residential neighborhoods
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
$247,695
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
5.27%
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%
$4,953,900
$5.0M
Cap Rate 7%
$3,538,500
$3.5M
Cap Rate 9%
$2,752,167
$2.8M
Market Conditions
NOI Build-Up for 21,138 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
$380.5K $18.00/SF
− Vacancy
−$26.6K −$1.26/SF
EGI
$353.9K $16.74/SF
− OpEx
−$106.2K −$5.02/SF
NOI
$247.7K $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%
$4,953,900
Cap Rate 7%
$3,538,500
Cap Rate 9%
$2,752,167
Alternative Uses
Best Use
Retail
$3.54M
$3.10M – $4.13M
NOI $247,695 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.23M
$5.45M – $7.27M
NOI $436,035 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,197
Businesses Nearby
891k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 34%
Superstores 21%
Dining 20%
Electronics 7%
Target
Superstores
185,849 visits/mo
0.3 miles
DICK'S Sporting Goods
Apparel
65,997 visits/mo
0.3 miles
Best Buy
Electronics
65,153 visits/mo
0.3 miles
Kohl's
Apparel
58,605 visits/mo
0.5 miles
Yard House
Dining
46,209 visits/mo
0.4 miles
Demographics for 93711, CA
37,901
Population
16,643
Households
2.3
Avg Household Size
43
Median Age
46%
College-Educated
93%
High-School Grad
11.2 sq mi
ZIP Area
3,384
Density / Sq Mi
$97,492
Median Household Income
$53,122
Median Earnings
$1,561
Median Rent
$469,800
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?
Shopping center - Shopping center positioned among Target, HomeGoods, Best Buy, Macy’s, REI, Ulta, Old Navy, Regal Cinemas, and Costco.
Where is this shopping center located?
The property is located at 285 W El Paso Ave Fresno, CA.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 21,138‑square‑foot shopping center at 285 W El Paso Ave, Fresno, CA 93711; Surrounded by Target, HomeGoods, Best Buy, Macy’s, REI, Ulta, Old Navy, Regal Cinemas, and Costco; Nearby office, medical, and residential neighborhoods
