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6-unit office building w/ existing cash flow 3727 N 1st St 8,085 SF 100% Leased Office Building Fresno, CA 93726 $1,299,000 ($160.67/SF) 5.79% Cap Rate
Investment Highlights
- Strong existing cash flow with established tenants w/ Long-Term Leases
- Priced Below Replacement Cost
- Easy Lease-able Units w/ Low Vacancy Turnover
Executive Summary
Well-maintained 6-unit commercial/office building offering strong existing cash flow. Four units are leased to established tenants, one is owner-occupied, and one is currently vacant — providing immediate lease-up or owner-user potential. Long-term tenants contribute to consistent occupancy.
This professionally managed property features a private parking lot with 27 total spaces (including 1 ADA-compliant), 15 of which are directly in front of the building for convenient customer access. Located on a corner parcel, the building benefits from excellent visibility and is secured with iron gates and LED-lit parking areas.
Key upgrades include a new roof and insulation (installed in 2018 with a transferable warranty) and HVAC systems all under 10 years old. Interiors allow for flexible configurations to suit a variety of business needs.
Prime location with prominent First Avenue exposure and signage, quick access to Freeway 41 on/off ramps, and close proximity to shopping, dining, and banking amenities.
This professionally managed property features a private parking lot with 27 total spaces (including 1 ADA-compliant), 15 of which are directly in front of the building for convenient customer access. Located on a corner parcel, the building benefits from excellent visibility and is secured with iron gates and LED-lit parking areas.
Key upgrades include a new roof and insulation (installed in 2018 with a transferable warranty) and HVAC systems all under 10 years old. Interiors allow for flexible configurations to suit a variety of business needs.
Prime location with prominent First Avenue exposure and signage, quick access to Freeway 41 on/off ramps, and close proximity to shopping, dining, and banking amenities.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$92,009
|
$11.38
|
| Other Income |
$45,600
|
$5.64
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$137,609
|
$17.02
|
| Taxes |
$7,136
|
$0.88
|
| Operating Expenses |
$11,389
|
$1.41
|
| Total Expenses |
$18,525
|
$2.29
|
| Net Operating Income |
$119,084
|
$14.73
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $92,009 |
| Annual Per SF | $11.38 |
| Other Income | |
|---|---|
| Annual | $45,600 |
| Annual Per SF | $5.64 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $137,609 |
| Annual Per SF | $17.02 |
| Taxes | |
|---|---|
| Annual | $7,136 |
| Annual Per SF | $0.88 |
| Operating Expenses | |
|---|---|
| Annual | $11,389 |
| Annual Per SF | $1.41 |
| Total Expenses | |
|---|---|
| Annual | $18,525 |
| Annual Per SF | $2.29 |
| Net Operating Income | |
|---|---|
| Annual | $119,084 |
| Annual Per SF | $14.73 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
8,085 SF
Building Class
C
Year Built
1971
Price
$1,299,000
Price Per SF
$160.67
Cap Rate
5.79%
NOI
$75,257
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,085 SF
Building FAR
0.28
Lot Size
0.66 AC
Opportunity Zone
Yes
Zoning
CO-Office
Parking
40 Spaces (3.45 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- 4kidsUrgentCare
- Health Care and Social Assistance
- 1,817 SF
- $15.52
- Modified Gross
- Nov 2025
- iDental
- Health Care and Social Assistance
- 1,432 SF
- $16.76
- Modified Gross
- Dec 2029
- State of CA Air Resources Board
- Public Administration
- -
- $17.66
- Modified Gross
- Nov 2027
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| 4kidsUrgentCare | Health Care and Social Assistance | 1,817 SF | $15.52 | Modified Gross | Nov 2025 | |
| iDental | Health Care and Social Assistance | 1,432 SF | $16.76 | Modified Gross | Dec 2029 | |
| State of CA Air Resources Board | Public Administration | - | $17.66 | Modified Gross | Nov 2027 |
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Property Taxes
| Parcel Number | 437-073-25 | Total Assessment | $1,159,260 |
| Land Assessment | $191,386 | Annual Taxes | $7,136 ($0.88/SF) |
| Improvements Assessment | $967,874 | Tax Year | 2025 |
Property Taxes
Parcel Number
437-073-25
Land Assessment
$191,386
Improvements Assessment
$967,874
Total Assessment
$1,159,260
Annual Taxes
$7,136 ($0.88/SF)
Tax Year
2025
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6-unit office building w/ existing cash flow | 3727 N 1st St
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