Two-Tenant Retail
New
For Sale
$1,275,000
444 E Olive Ave, Fresno, CA 93728
A laundromat and pizza restaurant occupy separate spaces under a base-rent-plus-NNN lease structure.
Property Size3,444 SF
Price / SF$370.21
Days on Market5
Property Features for 444 E Olive Ave
General Information
Standard status
Active
Size
3,444 SF
Occupancy
100%
Net Operating Income
$76,601
Financials
Asking Price
$1,275,000
Cap Rate
6.01%
Building Details
Tenancy
Multi
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Gurbeer Sangha · License #02200064
(559) 283-0039
Source:
Exprealty
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:32PM
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 Epique Realty
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.
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 = 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
$46,618
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
3.66%
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%
$932,360
$932.4K
Cap Rate 7%
$665,971
$666.0K
Cap Rate 9%
$517,978
$518.0K
Market Conditions
NOI Build-Up for 3,444 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
$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 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%
$932,360
Cap Rate 7%
$665,971
Cap Rate 9%
$517,978
Alternative Uses
Best Use
Specialty Retail
$666.0K
$582.7K – $777.0K
NOI $46,618 @ 7.0% cap · market cap 3.66%
Second Best
Retail
$576.5K
$504.5K – $672.6K
NOI $40,357 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.01M
$888.0K – $1.18M
NOI $71,043 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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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
