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    190 Van Ness Ave Fresno, CA 93701

    Sponsored
    For Sale
    $698,000

    12-unit office building, Downtown Fresno. High ROI.

    Property size:
    3,747 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 12-unit, single-story office building located at 190 N Van Ness Ave, Fresno, CA 93701. The property, totaling 3,747 square feet on an 11,775 square foot lot, boasts a strong 92% occupancy rate with 12 tenants. Built in 1966 and completely remodeled in early 2023, the building features two structures and is classified as a Class B property. The current asking price is $698,000, reflecting a 6.65% cap rate and a pro-forma cap rate of 6.66%. The property's net rentable area is 2,915 square feet, with a price per square foot of $186.28 and a price per unit of $58,167. The lease type is gross, and rent bumps are in place. The property includes one parking space per unit, gated parking, and gated access to offices and common areas. Fully automated access is also available. Further enhancing its value, the building features fully owned solar panels added in August 2024. The property is fully ADA compliant and zoned NMX (with additional parking zoned RS-5). This stabilized investment offers significant upside potential due to the lack of comparable individual office suites in the area and the absence of rent control, allowing for market-rate rent increases. The property is ideal for a variety of tenants, including those in beauty services, tech, legal, and insurance. Financial details are available upon request.

    Property Features for 190 Van Ness Ave

    General Information

    Property type
    Office space
    Square Feet
    3,747 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1966/2023
    Buildings
    2
    Stories
    1
    Units
    12

    HighLights

    • Downtown Fresno location.
    • Strong upside potential due to lack of comparable properties and no rent control.
    • Completely remodeled in 2023.
    • Owned solar panels.
    • Limited competition from individual office suites.
    • No rent control.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Accident Guys Personal Injury Attorney Quick Plates Vehicle ... Auto Tag Agency

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market 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
    -119.79870990443
    Latitude
    36.745830374931

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    FAQs

    What type of property is this?
    Office space - 12-unit office building, Downtown Fresno. High ROI.
    Where is this office space located?
    The property is located at 190 Van Ness Ave Fresno, CA.
    What is the asking price?
    The asking price for this property is $698,000.
    What are key features of this property?
    This property features: Downtown Fresno location.; Strong upside potential due to lack of comparable properties and no rent control.; Completely remodeled in 2023.
    Request Owner's contact information
    190 Van Ness Ave Fresno, CA 93701
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    Fresno, CA 93701
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    Realmo Value Estimation

    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.

    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
    190 Van Ness Ave Fresno, CA 93701
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