Vacant Freestanding Retail
For Sale
Contact for pricing
2915 N Maroa Avenue, Fresno, CA 93704
Vacant freestanding building with C-2 Commercial zoning and redevelopment flexibility.
Property Size2,423 SF
Lot Size0.40 Acres
Price / SF$245.56
Days on Market8
Property Features for 2915 N Maroa Avenue
General Information
Standard status
Active
Size
2,423 SF
Total Parking Spaces
15
Lot size
0.40 Acres
Property subtype
Retail
Zoning
C-2 Commercial
Investment Type
Value Add
Additional Details
Asking Price
$595,000
Highway Access
Yes
Land Use
commercial
Building Details
Year Built
1967
Buildings
1
Stories
1
Listing Agency:
Colliers - Los Angeles - Orange County, California
(310) 367-7611
Listed By:
Gil Corber · License #CA 01378982
Source:
Crexi
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 11 at 11:54AM
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 Colliers - Los Angeles - Orange County, California
Investment Insights
Based on property information with market context.
This vacant freestanding retail property includes a 2,423-square-foot commercial building on a 0.40-acre parcel measuring 17,424 square feet. Built in 1967, the existing improvement can accommodate renovation, owner-user occupancy, or leasing to a new operator. C-2 Commercial zoning establishes a commercial-use framework; any specific retail, service, restaurant, or other application should be verified with the City of Fresno.
The property is positioned near N. Maroa Avenue and E. Shields Avenue, with access to State Route 41 and other major arterial roads. The surrounding area includes residential neighborhoods, retail, restaurants, services, Manchester Center, Fig Garden Village, the Tower District, Fresno City College, and Christmas Tree Lane. Approximately 176,707 residents are located within three miles and 400,214 within five miles, with projected population growth of approximately 1.9% in both trade areas from 2024 to 2029.
The property is positioned near N. Maroa Avenue and E. Shields Avenue, with access to State Route 41 and other major arterial roads. The surrounding area includes residential neighborhoods, retail, restaurants, services, Manchester Center, Fig Garden Village, the Tower District, Fresno City College, and Christmas Tree Lane. Approximately 176,707 residents are located within three miles and 400,214 within five miles, with projected population growth of approximately 1.9% in both trade areas from 2024 to 2029.
Key Highlights
- 2,423‑square‑foot freestanding commercial building on a 0.40‑acre parcel
- 17,424‑square‑foot site with a substantial land component
- C‑2 Commercial zoning; specific uses subject to City of Fresno verification
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
$28,393
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
4.77%
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%
$567,860
$567.9K
Cap Rate 7%
$405,614
$405.6K
Cap Rate 9%
$315,478
$315.5K
Market Conditions
NOI Build-Up for 2,423 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
$43.6K $18.00/SF
− Vacancy
−$3.1K −$1.26/SF
EGI
$40.6K $16.74/SF
− OpEx
−$12.2K −$5.02/SF
NOI
$28.4K $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%
$567,860
Cap Rate 7%
$405,614
Cap Rate 9%
$315,478
Alternative Uses
Best Use
Retail
$405.6K
$354.9K – $473.2K
NOI $28,393 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.0K
$624.8K – $833.0K
NOI $49,982 @ 7.0% cap · market cap 8.40%
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
1,848
Businesses Nearby
250k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Shops & Services 22%
Groceries 21%
Apparel 17%
Whole Foods Market
Groceries
51,358 visits/mo
0.4 miles
Dollar Tree
Shops & Services
25,892 visits/mo
0.4 miles
lululemon athletica
Apparel
20,749 visits/mo
0.5 miles
Jack's Urban Eats
Dining
16,084 visits/mo
0.5 miles
Panda Express
Dining
15,098 visits/mo
0.5 miles
Demographics for 93704, CA
28,573
Population
12,165
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
5,291
Density / Sq Mi
$69,659
Median Household Income
$45,965
Median Earnings
$1,392
Median Rent
$366,000
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 space - Vacant freestanding building with C-2 Commercial zoning and redevelopment flexibility.
Where is this retail space located?
The property is located at 2915 N Maroa Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,423‑square‑foot freestanding commercial building on a 0.40‑acre parcel; 17,424‑square‑foot site with a substantial land component; C‑2 Commercial zoning; specific uses subject to City of Fresno verification
