Versatile Income Property on
617 N Fulton St Fresno, CA 93728
617 N Fulton St, Fresno, CA, 93728
Contact for pricing
For Sale
Contact for pricing
Owner-user/investment opportunity with income potential and established tenants.
Property Size2,300 SF
Price / SF$152.17
Days on Market696
Property Features for 617 N Fulton St
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1953
Listing Agency
C21 Commercial
(559) 359-4035
Listed by
Jared Ennis · License #CA
Source
Crexi
Added: Aug 23, 2024 Checked: Jul 17 at 8:09 am
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 presents a versatile opportunity for both owner-users and investors, featuring three established long-term tenants. It offers a strategic advantage for an owner-user seeking a functional space with existing rental income. Investors may find the stability provided by the current tenants attractive for portfolio diversification in a thriving location. Each unit features an open floor plan and a private restroom. Two of the units have automatic remote-controlled wrought iron gates at the back for secure and private access. The property offers easy-to-rent spaces on Fulton Street, with convenient access to major freeways. A value-add opportunity exists by addressing the under-market rent of one tenant and extending lease lengths over the next 6-12 months. The current actual rents collected amount to $39,600 per year, with upside potential. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $43,260. The property comprises a total size of 2300 square feet. The location is within an under-built market with a strong need for these types of units. Once stabilized, the deal offers a 7.83% CAP rate and an 8.05% cash-on-cash return.
Key Highlights
- Existing long‑term tenants provide immediate rental income.
- Value‑add opportunity to increase rental income by addressing under‑market rent.
- High visibility location on Fulton St with easy freeway access.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.4k | $18.00 |
| − Vacancy | −$2.9k | −$1.26 |
| EGI | $38.5k | $16.74 |
| − OpEx | −$11.6k | −$5.02 |
| NOI | $27.0k | $11.72 |
2,300 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$486.5K
$425.7K – $567.5K
NOI $34,052 @ 7.0% cap · market cap 9.73%
Second Best
Retail
$385.0K
$336.9K – $449.2K
NOI $26,951 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$677.8K
$593.1K – $790.7K
NOI $47,444 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Owner-user/investment opportunity with income potential and established tenants.
Where is this retail space located?
The property is located at 617 N Fulton St Fresno, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Existing long‑term tenants provide immediate rental income.; Value‑add opportunity to increase rental income by addressing under‑market rent.; High visibility location on Fulton St with easy freeway access.
