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    Property profile & analytics

    2002 Gateway Blvd Fresno, CA 93727

    • Office buildings
    • 14,060 SF
    • 1.25 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    $525,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0589079
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 2002 Gateway Blvd

    Year built
    1977
    Construction
    TILT-UP CONCRETE
    Lot size
    1.25 lot acres
    Property size
    14,060 SF
    Zone code
    IL
    Property type
    Office buildings
    APN
    494-294-01
    APU
    49429401

    Description

    This exceptional Fresno office property, located at 2002 North Gateway Boulevard, offers multiple suites for lease within a four-building complex. Built in 1977 and extensively renovated in 2021, the property boasts a total of 14,284 square feet, with individual suites ranging from a minimum of 1,200 square feet to a maximum contiguous space of 4,060 square feet. The property sits on a 1.25-acre lot and is zoned IL. The single-story buildings provide convenient access for tenants. This prime location offers unparalleled convenience, situated directly across from Fresno Yosemite International Airport and near the vital intersections of Highway 180/Peach Avenue and Highway 168/McKinley Avenue, providing effortless commutes to Downtown Fresno and Clovis. The surrounding area is rich with amenities, including restaurants, banks, and hotels, enhancing the overall tenant experience. The property's convenient access to major transportation arteries and its proximity to a wide array of services make it an ideal location for businesses seeking a strategic and well-connected base of operations. The property's recent renovation ensures modern and efficient workspaces, ready for immediate occupancy. The parcel number is 494-294-01. This is a fantastic opportunity to secure high-quality office space in a thriving Fresno location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $571,000
      Market price range: $516k - $1.57M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.726
    Latitude
    36.7687
    CBSA code
    23420
    CBSA name
    FRESNO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,694
    $230,522
    $385,992
    $616,514
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $800,000
      25,200 SF

      5060 Clinton Way

      OFFICE BUILDING • 25,200 SF
      5060 Clinton Way, Fresno, CA 93727-1506
      View Details
    • Value Estimation
      $490,000
      12,150 SF

      5085 Mckinley Ave

      OFFICE BUILDING • 12,150 SF
      5085 Mckinley Ave, Fresno, CA 93727-1964
      View Details
    • Value Estimation
      $395,000
      1,979 SF

      5534 Kings Cyn Rd

      OFFICE BUILDING • 1,979 SF
      5534 Kings Cyn Rd, Fresno, CA 93727-4526
      View Details
    • Value Estimation
      $520,000
      20,016 SF

      2134 Fine Ave

      OFFICE BUILDING • 20,016 SF
      2134 Fine Ave, Fresno, CA 93727-1513
      View Details
    • Value Estimation
      $470,000
      4,239 SF

      1911 Fine Ave

      OFFICE BUILDING • 4,239 SF
      1911 Fine Ave, Fresno, CA 93727-1510
      View Details
    • Value Estimation
      $500,000
      10,116 SF

      2211 Fine Ave

      OFFICE BUILDING • 10,116 SF
      2211 Fine Ave, Fresno, CA 93727-1529
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Fully Leased Office Building

      Office building, currently 100% leased, no availability.
      1939 N Gateway Blvd, Fresno, CA 93727
      View Details
    • Contact for pricing

      Fully Leased Office Building

      Office building, currently 100% leased, no availability.
      1967 N Gateway Blvd, Fresno, CA 93727
      View Details
    • Contact for pricing

      Leased Office Building in Fresno

      100% leased office building located in Fresno, California.
      1907 N Gateway Blvd, Fresno, CA 93727
      View Details
    • $1.65 SF/Yr
      900 SF

      Office Space Available For Rent

      900 square feet of office space available for rent.
      1901 N Gateway Blvd, Fresno, CA 93727
      View Details
    • Contact for pricing
      531,976 SF

      Fresno Flex Space - 531,976 SF

      Large Single-Tenant Flex Space in Fresno
      5045 Butler Ave, Fresno, CA 93727
      View Details
    • $1.30 SF/Yr
      5,148 SF

      Ready-to-Occupy Office Space

      Office space near Fresno Yosemite International Airport.
      5110 E Clinton Way, Fresno, CA 93727
      View Details
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    Fresno, CA 93727
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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
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