444 E Olive Ave, Fresno, CA 93728

Building Details

Tenancy Multi More

Listing Agency: Epique Realty C***@epiquerealty.com Show Phone

Listed By: Gurbeer Sangha · License CA #02200064 Show Phone

Source: Exprealty

Added: Sep 23 Changed: Nov 1 Last Checked: Nov 12 at 12:19PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This two-tenant retail property contains approximately 3,444 square feet and is occupied by a laundromat and a pizza restaurant. Existing leases provide for base rent plus NNN reimbursements, with annual rent increases of 3%. The seller is negotiating updated long-term lease documents with both tenants.

The property is at 444 E Olive Ave in Fresno, along Olive Avenue. Seller-provided operating information indicates an approximate 6.01% cap rate and an 8.11% gross scheduled income yield.

Key Highlights

• Two tenant businesses: a laundromat and a pizza restaurant
• Approximately 3,444 square feet
• Existing leases include base rent plus NNN reimbursements

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,618

Cap Rate

3.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$932,360 $932.4K

Cap Rate 7%

$665,971 $666.0K

Cap Rate 9%

$517,978 $518.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,444 SF

Gross rent

$66.1K $19.20/SF

− Vacancy

−$4.0K −$1.15/SF

EGI

$62.2K $18.05/SF

− OpEx

−$15.5K −$4.51/SF

NOI

$46.6K $13.54/SF

Area

Fresno, CA

Vacancy

6.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$932,360

Cap Rate 7%

$665,971

Cap Rate 9%

$517,978

Alternative Uses

Best Use

Specialty Retail

$666.0K

$582.7K – $777.0K (±1% cap)

NOI $46,618 @ 7.0% cap · market cap 3.66%

Second Best

Retail

$576.5K

$504.5K – $672.6K (±1% cap)

NOI $40,357 @ 7.0% cap · market cap 3.17%

Theoretical Best

Office A

$1.01M

$888.0K – $1.18M (±1% cap)

NOI $71,043 @ 7.0% cap · market cap 5.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Super Suds Laundry ... (Bike/Boat/Book/etc) Store Pacifica Pizza Restaurant Super Suds Laundry (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Electrical Service Dental Office HVAC Service Carpet & Flooring Store Real Estate Agency Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,144

Businesses Nearby

54k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 71% Dining 29%

Dollar Tree Shops & Services

24,216 visits/mo 0.3 miles

Me-N-Ed's Pizzeria Dining

9,041 visits/mo 0.2 miles

Circle K Shops & Services

8,266 visits/mo 0.2 miles

Valero Energy Shops & Services

6,068 visits/mo 0.1 miles

Deli Delicious Dining

4,217 visits/mo 0.3 miles

Demographics for 93728, CA

16,191

Population

6,878

Households

2.4

Avg Household Size

35

Median Age

18%

College-Educated

77%

High-School Grad

3.0 sq mi

ZIP Area

5,397

Density / Sq Mi

$52,809

Median Household Income

$34,696

Median Earnings

$1,243

Median Rent

$239,700

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - A laundromat and pizza restaurant occupy separate spaces under a base-rent-plus-NNN lease structure.

Where is this strip mall located?

The property is located at 444 E Olive Ave Fresno, CA.

What is the asking price?

The asking price for this property is $1,275,000.

What are key features of this property?

This property features: Two tenant businesses: a laundromat and a pizza restaurant; Approximately 3,444 square feet; Existing leases include base rent plus NNN reimbursements