Office/Warehouse Flex
For Sale
Contact for pricing
4723 East Olive Avenue, Fresno, CA 93702
Flexible commercial building combining office functionality with warehouse space on a substantial site.
Property Size5,040 SF
Lot Size0.73 Acres
Price / SF$128.97
Days on Market8
Property Features for 4723 East Olive Avenue
General Information
Standard status
Active
Size
5,040 SF
Lot size
0.73 Acres
Property subtype
Industrial
Building Details
Building Size
5,040 SF
Listing Agency:
RC Commercial
Listed By:
Derek Feramisco · License #CA 01427540
(559) 448-1500
Source:
Crexi
Added: Sep 3
Changed: Sep 9
Last Checked: Sep 10 at 6:35AM
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 RC Commercial
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse components within a 5,040-square-foot building. The improvements occupy a 31,968-square-foot lot, providing a commercial setting for users seeking a mixed office and industrial format.
The property is located at 4723 East Olive Avenue in Fresno, California 93702.
The property is located at 4723 East Olive Avenue in Fresno, California 93702.
Key Highlights
- 5,040 SF office and warehouse building
- 31,968 SF lot
- Located at 4723 East Olive Avenue, Fresno, CA 93702
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
$44,966
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
6.92%
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%
$899,320
$899.3K
Cap Rate 7%
$642,371
$642.4K
Cap Rate 9%
$499,622
$499.6K
Market Conditions
NOI Build-Up for 5,040 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
$53.8K $10.68/SF
− Vacancy
−$926 −$0.18/SF
EGI
$52.9K $10.50/SF
− OpEx
−$7.9K −$1.57/SF
NOI
$45.0K $8.92/SF
Area
ZIP 93702
Vacancy
1.72%
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%
$899,320
Cap Rate 7%
$642,371
Cap Rate 9%
$499,622
Alternative Uses
Best Use
Flex RnD
$945.2K
$827.0K – $1.10M
NOI $66,162 @ 7.0% cap · market cap 10.18%
Second Best
Warehouse
$642.4K
$562.1K – $749.4K
NOI $44,966 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,094 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93702, CA
45,741
Population
13,386
Households
3.4
Avg Household Size
29
Median Age
9%
College-Educated
57%
High-School Grad
5.2 sq mi
ZIP Area
8,796
Density / Sq Mi
$44,849
Median Household Income
$27,486
Median Earnings
$1,110
Median Rent
$211,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building combining office functionality with warehouse space on a substantial site.
Where is this flex space located?
The property is located at 4723 East Olive Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,040 SF office and warehouse building; 31,968 SF lot; Located at 4723 East Olive Avenue, Fresno, CA 93702
