Freestanding Warehouse with Detached
For Sale
Contact for pricing
1308 W Iota Ave, Fresno, CA 93728
4,320 SF warehouse with office on 0.35 acres.
Property Size4,320 SF
Lot Size0.35 Acres
Price / SF$103.94
Days on Market1313
Property Features for 1308 W Iota Ave
General Information
Standard status
Active
Size
4,320 SF
Lot size
0.35 Acres
Property subtype
Industrial, Mixed Use
Zoning
NMX
Lease Type
Modified Gross
Building Details
Buildings
1
Stories
1
Units
1
Listing Agency:
C21 Commercial
(559) 359-4035
Listed By:
Kevin Land · License #CA 01516541
Source:
Crexi
Added: Jan 26, 2023
Changed: Aug 16
Last Checked: Aug 31 at 12:57PM
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 C21 Commercial
Investment Insights
Based on property information with market context.
This property features a clear span freestanding warehouse building with a detached office, situated on 0.35 acres of land. The warehouse building provides approximately 3,600 square feet of space, incorporating four 12'x12' rollup doors, two man doors, and a 14' clear height. A 20'x24' covered structure connects the office and warehouse. The office building, located on the east side of the property, offers approximately 720 square feet and direct access to the entrance gate. The two buildings total approximately 4,320 square feet. The property is fully fenced with a completely paved yard area and two main entrances. It is strategically located in Central Fresno, offering multiple access points to major streets and freeways, and exposure to CA-99. The warehouse is currently split into two sections, measuring approximately 1,950 and 1,650 square feet.
Key Highlights
- Freestanding warehouse with detached office totaling ±4,320 SF on 0.35 acres.
- High visibility location with CA‑99 exposure.
- Fully fenced and paved yard with two entrances.
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
$38,542
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
8.58%
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%
$770,840
$770.8K
Cap Rate 7%
$550,600
$550.6K
Cap Rate 9%
$428,244
$428.2K
Market Conditions
NOI Build-Up for 4,320 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
$46.1K $10.68/SF
− Vacancy
−$794 −$0.18/SF
EGI
$45.3K $10.50/SF
− OpEx
−$6.8K −$1.57/SF
NOI
$38.5K $8.92/SF
Area
Fresno, CA
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%
$770,840
Cap Rate 7%
$550,600
Cap Rate 9%
$428,244
Alternative Uses
Best Use
Office B
$913.7K
$799.5K – $1.07M
NOI $63,958 @ 7.0% cap · market cap 14.24%
Second Best
Warehouse
$550.6K
$481.8K – $642.4K
NOI $38,542 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,113 @ 7.0% cap · market cap 19.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- U-Pack — 330 S Teilman Ave, Fresno, CA 93706
- Derrel's Mini Storage — 1800 W Belmont Ave, Fresno, CA 93728
- Central Mini Storage — 1309 N Golden State Blvd, Fresno, CA 93728
Frequently Asked Questions
What type of property is this?
Warehouse - 4,320 SF warehouse with office on 0.35 acres.
Where is this warehouse located?
The property is located at 1308 W Iota Ave Fresno, CA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Freestanding warehouse with detached office totaling ±4,320 SF on 0.35 acres.; High visibility location with CA‑99 exposure.; Fully fenced and paved yard with two entrances.
