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    3718 1St St Fresno, CA 93726

    Sponsored
    For Lease
    $9 SF/Yr

    Versatile office suites, ample parking.

    Lot size:
    48,688 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional Fresno, CA office property at 3718 N First St offers a diverse range of flexible spaces ideal for various business needs. The 48,688 square foot building, constructed in 1974 and renovated in 2017, boasts a Class B rating and sits on a generous 3.5-acre lot. Zoned R-P, the property features multiple tenancy options, with available suites ranging from approximately 1,177 to 3,372 square feet. Several units are available, offering various configurations to suit diverse requirements. For example, Unit #3718 provides approximately 2,406 square feet, including four exam rooms/offices, a large office, an open bullpen area, a large conference/training room, two storage rooms, and two restrooms. Unit #3736, at approximately 1,234 square feet, includes four exam rooms/offices with sinks, a private office, storage, a waiting area, and a reception area. Unit #3738 (approximately 1,222 square feet) can be combined with #3736, offering open reception, five exam rooms/offices (one large), and a supply closet. Finally, Unit #3746 offers approximately 1,408 square feet, featuring an open waiting area, six rooms/offices (three large), and a storage room. All units benefit from private restrooms, front and rear entrances/exits, a shaded courtyard, street signage, and ample private parking. This highly visible location presents a compelling opportunity for businesses seeking adaptable and well-appointed office space in Fresno.

    Property Features for 3718 1St St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    48,688 SF
    Class
    B
    Total Rate
    38950.4

    Building Details

    Year Built/Renovated
    1974/2017

    Unit(s) available at that property

    Space
    Unit #3718
    Size
    2,406 SF
    Rate per SF
    $9
    Space
    Suite 3756
    Size
    1,177 SF
    Rate per SF
    $9
    Space
    Suite 3766
    Size
    1,177 SF
    Rate per SF
    $9
    Space
    Suite 3732
    Size
    1,212 SF
    Rate per SF
    $9
    Space
    Suite 3790
    Size
    3,372 SF
    Rate per SF
    $9
    Space
    Unit #3736
    Size
    1,234 SF
    Rate per SF
    $9
    Space
    Suite 3798
    Size
    1,838 SF
    Rate per SF
    $9
    Space
    Unit #3746
    Size
    1,408 SF
    Rate per SF
    $9
    Space
    Suite 3796
    Size
    1,517 SF
    Rate per SF
    $9
    Space
    Unit #3738
    Size
    1,222 SF
    Rate per SF
    $9

    HighLights

    • 48,688 SF Class B office building on a 3.5‑acre lot in Fresno, CA.
    • Flexible suites available from 1,177 SF to 3,372 SF, ideal for medical, professional, or general office use.
    • Recently renovated units feature new flooring and granite countertops.
    • High visibility location with excellent accessibility near State Routes 41 & 168.
    • Amenities include street signage, private entrances/restrooms, ample parking, and a shaded courtyard.
    • Additional tenant improvements available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family and Behavior Intervention ... Education Center

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.7723677
    Latitude
    36.7859154

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    FAQs

    What type of property is this?
    Medical office - Versatile office suites, ample parking.
    Where is this medical office located?
    The property is located at 3718 1St St Fresno, CA.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: 48,688 SF Class B office building on a 3.5-acre lot in Fresno, CA.; Flexible suites available from 1,177 SF to 3,372 SF, ideal for medical, professional, or general office use.; Recently renovated units feature new flooring and granite countertops.
    Request Owner's contact information
    3718 1St St Fresno, CA 93726
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    Fresno, CA 93726
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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
    3718 1St St Fresno, CA 93726
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