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    132 Nees Ave Fresno, CA 93711

    Sponsored
    For Lease
    Contact for pricing

    Prime retail & restaurant spaces available.

    Lot size:
    29,940 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional retail property, located at 132 W. Nees Ave in Fresno, California (zip code 93711), offers multiple spaces ideal for restaurants and retail businesses. The single-story building boasts a total of 29,940 square feet, with 1,736 square feet currently vacant. Three individual spaces are available, ranging in size from 780 to 1,620 square feet, providing flexibility for various business needs. The property benefits from its prime location within the Centrum Shopping Center, situated on a major north-south corridor in Fresno. This high-traffic area is surrounded by a dense residential population and a thriving retail environment, ensuring excellent visibility and accessibility. Convenient access to CA-41 further enhances its appeal. Ample parking is available with 95+ spaces provided for customers and employees. The property also features pylon signage opportunities, providing excellent branding potential. This turnkey opportunity is perfect for businesses seeking a high-visibility location in a bustling commercial area of Fresno County. The property's strategic location and ample amenities make it an attractive investment for discerning businesses.

    Property Features for 132 Nees Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    29,940 SF

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Suite 109
    Size
    780 SF
    Space
    Suite 108
    Size
    1,620 SF
    Space
    Suite 106
    Size
    1,036 SF

    HighLights

    • 29,940 SF retail space available in Fresno's Centrum Shopping Center, 1,736 SF currently vacant, with three suites ranging from 780‑1,620 SF.
    • High‑traffic location on a major north‑south corridor with excellent visibility.
    • Surrounded by major retailers and a dense residential population.
    • Convenient access to CA‑41 freeway and ample parking (95+ spaces).
    Property Profile Location Intelligence

    Current Use by Public Records

    Companion Animal Hospital ... Veterinarian Nurses Boutique Uniform Store Riverpark Liquor Liquor Store 15 Tea Cafe Soccer & Lifestyle Sporting Goods Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.79165946614
    Latitude
    36.852497538112

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    FAQs

    What type of property is this?
    Restaurant - Prime retail & restaurant spaces available.
    Where is this restaurant located?
    The property is located at 132 Nees Ave Fresno, CA.
    What are key features of this property?
    This property features: 29,940 SF retail space available in Fresno's Centrum Shopping Center, 1,736 SF currently vacant, with three suites ranging from 780-1,620 SF.; High-traffic location on a major north-south corridor with excellent visibility.; Surrounded by major retailers and a dense residential population.
    Request Owner's contact information
    132 Nees Ave Fresno, CA 93711
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    Fresno, CA 93711
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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.

    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
    132 Nees Ave Fresno, CA 93711
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