Grocery Store
For Sale
Contact for pricing
7751 N First St, Fresno, CA 93720
Substantial retail footprint suited to grocery and convenience store use.
Property Size36,800 SF
Price / SF$255.31
Days on Market139
Property Features for 7751 N First St
General Information
Standard status
Active
Size
36,800 SF
Class
B
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
Stories
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Jason Hernandez · License #CA 01392646
Source:
Crexi
Added: Apr 14
Changed: Aug 29
Last Checked: Aug 29 at 5:21PM
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.
The property provides 36,800 square feet of commercial space associated with the grocery and convenience store category. Built in 1983, the asset is located at 7751 N First St in Fresno, California 93720.
Key Highlights
- 36,800 square feet of property size
- Built in 1983
- Located at 7751 N First St, Fresno, CA 93720
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
4.28%
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 4.28%
Second Best
Retail
$5.09M
$4.45M – $5.94M
NOI $356,261 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$7.59M
$6.64M – $8.85M
NOI $530,980 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Substantial retail footprint suited to grocery and convenience store use.
Where is this grocery and convenience store located?
The property is located at 7751 N First St Fresno, CA.
What is the asking price?
The asking price for this property is $9,395,500.
What are key features of this property?
This property features: 36,800 square feet of property size; Built in 1983; Located at 7751 N First St, Fresno, CA 93720
