Medical Office Space
For Sale
Contact for pricing
6335 North Fresno Street, Fresno, CA 93704
Functional office space with rare medical facilities in Northeast location.
Property Size14,400 SF
Price / SF$190.97
Days on Market806
Property Features for 6335 North Fresno Street
General Information
Standard status
Active
Size
14,400 SF
Class
B
Property subtype
Office
Zoning
"O" Office
Occupancy
48%
Lease Type
Modified Gross
Building Details
Tenancy
Multi
Listing Agency:
Fortune Associates
Listed By:
Brandon Lamonica · License #CA 01317857
Source:
Crexi
Added: Jun 18, 2024
Changed: Aug 19
Last Checked: Sep 1 at 1:35AM
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 Fortune Associates
Investment Insights
Based on property information with market context.
This property, located south of Herndon Ave in a Northeast location, offers a blend of functional office space and medical facilities. Covered parking stalls are available. The property features monument signage for visibility. Elevator access is provided to the second floor. Tenant improvements offer flexible customization of the space.
Key Highlights
- Prime location south of Herndon Ave.
- Functional office space with rare medical facilities.
- Northeast location.
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
$213,192
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
7.75%
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%
$4,263,840
$4.3M
Cap Rate 7%
$3,045,600
$3.0M
Cap Rate 9%
$2,368,800
$2.4M
Market Conditions
NOI Build-Up for 14,400 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
$302.4K $21.00/SF
− Vacancy
−$18.1K −$1.26/SF
EGI
$284.3K $19.74/SF
− OpEx
−$71.1K −$4.94/SF
NOI
$213.2K $14.81/SF
Area
Fresno, CA
Vacancy
6.00%
Lease Rate
$21.00 /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%
$4,263,840
Cap Rate 7%
$3,045,600
Cap Rate 9%
$2,368,800
Alternative Uses
Best Use
Office B
$3.05M
$2.66M – $3.55M
NOI $213,192 @ 7.0% cap · market cap 7.75%
Second Best
Healthcare Medical
$2.80M
$2.45M – $3.27M
NOI $195,955 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,043 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93704, CA
28,573
Population
12,165
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
5,291
Density / Sq Mi
$69,659
Median Household Income
$45,965
Median Earnings
$1,392
Median Rent
$366,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Functional office space with rare medical facilities in Northeast location.
Where is this medical office space located?
The property is located at 6335 North Fresno Street Fresno, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Prime location south of Herndon Ave.; Functional office space with rare medical facilities.; Northeast location.
