Multi-Tenant Industrial Warehouse
For Sale
Contact for pricing
2889 N Larkin Ave., Fresno, CA 93727
Fully leased warehouse property with two adjacent buildings and M-1 light industrial zoning.
Property Size26,349 SF
Lot Size1.90 Acres
Price / SF$123.34
Days on Market15
Property Features for 2889 N Larkin Ave.
General Information
Standard status
Active
Size
26,349 SF
Class
B
Lot size
1.90 Acres
Property subtype
Industrial
Zoning
M-1 (Light Industrial)
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Core+
Net Operating Income
$197,540
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
ALIVE Commercial Real Estate
Listed By:
Trent Carvolth · License #CA 01713737
(619) 909-0681
Source:
Crexi
Added: Aug 19
Changed: Aug 31
Last Checked: Sep 1 at 6:09AM
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 ALIVE Commercial Real Estate
Investment Insights
Based on property information with market context.
This warehouse portfolio includes two adjacent buildings totaling approximately 26,349 square feet on approximately 1.9 acres. The multi-tenant property is fully leased and operates under M-1 (Light Industrial) zoning, with dedicated yard areas serving the industrial improvements.
The property is located at 2889 N. Larkin Ave. in Fresno, near Fresno Yosemite International Airport. Regional access is available through Highways 168, 180, and 41, providing connectivity to the surrounding industrial market and broader Fresno area.
The property is located at 2889 N. Larkin Ave. in Fresno, near Fresno Yosemite International Airport. Regional access is available through Highways 168, 180, and 41, providing connectivity to the surrounding industrial market and broader Fresno area.
Key Highlights
- Two adjacent warehouse buildings totaling approximately 26,349 square feet
- Approximately 1.9 acres in Fresno's Northeast Industrial Submarket
- Fully leased multi‑tenant industrial property
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
$229,150
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
7.05%
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%
$4,583,000
$4.6M
Cap Rate 7%
$3,273,571
$3.3M
Cap Rate 9%
$2,546,111
$2.5M
Market Conditions
NOI Build-Up for 26,349 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
$281.4K $10.68/SF
− Vacancy
−$11.8K −$0.45/SF
EGI
$269.6K $10.23/SF
− OpEx
−$40.4K −$1.53/SF
NOI
$229.1K $8.70/SF
Area
ZIP 93727
Vacancy
4.20%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
15.00%
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%
$4,583,000
Cap Rate 7%
$3,273,571
Cap Rate 9%
$2,546,111
Alternative Uses
Best Use
Warehouse
$3.27M
$2.86M – $3.82M
NOI $229,150 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.47M
$6.53M – $8.71M
NOI $522,757 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93727, CA
83,212
Population
25,919
Households
3.2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
22.0 sq mi
ZIP Area
3,782
Density / Sq Mi
$82,247
Median Household Income
$42,002
Median Earnings
$1,277
Median Rent
$370,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased warehouse property with two adjacent buildings and M-1 light industrial zoning.
Where is this warehouse located?
The property is located at 2889 N Larkin Ave. Fresno, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Two adjacent warehouse buildings totaling approximately 26,349 square feet; Approximately 1.9 acres in Fresno's Northeast Industrial Submarket; Fully leased multi‑tenant industrial property
