Smart & Final Grocery
For Sale
Contact for pricing
7733 N First Street, Fresno, CA 93720
Single-tenant net-leased retail property with nine years remaining on the lease term.
Property Size36,800 SF
Price / SF$245.10
Days on Market143
Property Features for 7733 N First Street
General Information
Standard status
Active
Size
36,800 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$563,730
Building Details
Year Built
1983
Year Renovated
2021
Tenancy
Single
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Jason Hernandez · License #CA 01392646
Source:
Crexi
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 25 at 6:38AM
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 Marcus & Millichap - Nashville
Investment Insights
Based on property information with market context.
This Fresno property is occupied by Smart & Final under a single-tenant net lease, with nine years remaining on the current term. The asset is located at 7733 N First Street in Fresno, California 93720 and is offered for sale.
Key Highlights
- Smart & Final is the occupying tenant
- Single‑tenant net‑leased structure
- Nine years remaining on the lease term
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
$402,574
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
4.46%
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%
$8,051,480
$8.1M
Cap Rate 7%
$5,751,057
$5.8M
Cap Rate 9%
$4,473,044
$4.5M
Market Conditions
NOI Build-Up for 36,800 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
$574.1K $15.60/SF
− Vacancy
−$37.3K −$1.01/SF
EGI
$536.8K $14.59/SF
− OpEx
−$134.2K −$3.65/SF
NOI
$402.6K $10.94/SF
Area
ZIP 93720
Vacancy
6.50%
Lease Rate
$15.60 /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%
$8,051,480
Cap Rate 7%
$5,751,057
Cap Rate 9%
$4,473,044
Alternative Uses
Best Use
Specialty Retail
$5.75M
$5.03M – $6.71M
NOI $402,574 @ 7.0% cap · market cap 4.46%
Second Best
Retail
$5.09M
$4.45M – $5.94M
NOI $356,261 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$7.59M
$6.64M – $8.85M
NOI $530,980 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
204k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 32%
Shops & Services 21%
McDonald's
Dining
42,354 visits/mo
0.1 miles
Save Mart
Groceries
37,238 visits/mo
0.1 miles
Smart & Final
Groceries
27,973 visits/mo
0.1 miles
ARCO
Shops & Services
24,498 visits/mo
0.3 miles
Taco Bell
Dining
23,473 visits/mo
0.0 miles
Demographics for 93720, CA
47,814
Population
19,738
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
4,598
Density / Sq Mi
$103,636
Median Household Income
$56,888
Median Earnings
$1,990
Median Rent
$457,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Shop-N-Go / Liquor — 7420 N Fresno St, Fresno, CA 93720
- Mesple’ Farms — 7443 N Millbrook Ave, Fresno, CA 93720
- Save Mart — 659 E Nees Ave, Fresno, CA 93720
- Glacier Water Refill — 659 E Nees Ave, Fresno, CA 93720
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-tenant net-leased retail property with nine years remaining on the lease term.
Where is this grocery and convenience store located?
The property is located at 7733 N First Street Fresno, CA.
What is the asking price?
The asking price for this property is $9,019,680.
What are key features of this property?
This property features: Smart & Final is the occupying tenant; Single‑tenant net‑leased structure; Nine years remaining on the lease term
