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    747 R St Fresno, CA 93721

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    For Lease
    Contact for pricing

    73,737 SF Office Building, Multiple Suites Available

    Lot size:
    73,737 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional Class A office building, located in Downtown Fresno's vibrant core, offers 73,737 square feet of modern workspace. The property boasts a convenient on-site food court and features recently completed renovations (2022). Multiple suites are available, ranging from a minimum of 10,746 square feet to a maximum contiguous space of 26,290 square feet, with 38,691 square feet currently vacant. The two-story building includes elevators and is situated on a 1.3-acre lot (APN 468-163-06, Fresno County). The building benefits from easy highway access and features a high-end, efficient design. The City of Fresno occupies the entire second floor. Zoned DTG (Downtown General), this property presents a unique opportunity for businesses seeking a prime location in a thriving urban environment. The modern design and amenities create an attractive and productive work environment. This is a turnkey solution for businesses seeking immediate occupancy.

    Property Features for 747 R St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    73,737 SF
    Class
    A

    Building Details

    Year Renovated
    2022
    Stories
    2

    Unit(s) available at that property

    Space
    Basement
    Size
    12,401 SF
    Space
    1st Floor - Northside
    Size
    10,746 SF
    Space
    1st Floor - Southside
    Size
    15,544 SF

    We can help!

    Listing Contact
    Tony Cortopassi
    Tony Cortopassi

    Learn more

    Property Insight Report

    HighLights

    • Class A, 73,737 SF office building in Downtown Fresno.
    • Multiple suites available, ranging from 10,746 SF to 26,290 SF contiguous.
    • 38,691 SF of vacant space.
    • 1.3‑acre lot, renovated in 2022.
    • Features two stories, elevators, and DTG zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Capital Projects Department Government Office AHA AHI Poke Pacific Northwest Restaurant (Us) Las Mañanitas Mexican Restaurant Railway Pizza Cocktail Restaurant Labores Comichut Restaurant

    Suggested Use

    Realty agency Spa & Massage Restaurant Dental Office Hair Salon Law Firm Nail Salon Gym & Fitness Building Supply Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.7796076
    Latitude
    36.7372058

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    FAQs

    What type of property is this?
    Office Property / Space - 73,737 SF Office Building, Multiple Suites Available
    Where is this office property / space located?
    The property is located at 747 R St Fresno, CA.
    What are key features of this property?
    This property features: Class A, 73,737 SF office building in Downtown Fresno.; Multiple suites available, ranging from 10,746 SF to 26,290 SF contiguous.; 38,691 SF of vacant space.
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    747 R St Fresno, CA 93721
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    747 R St Fresno, CA 93721
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    We can help!
    Listing Contact
    Tony Cortopassi
    Tony Cortopassi
    Real Estate License ID: CA 01413706
    Learn more
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