Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    233 Tully Rd Modesto, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Redevelopment site with existing building near Modesto Junior College.

    Type:LAND
    Property size:
    103,237 SF
    Lot size:
    2.37 Acres
    Added:
    Aug 16, 2022
    Days on Market:
    1348
    Last Refresh:
    Apr 5 at 10:19 pm

    Property Features for 233 Tully Rd

    General Information

    Standard status
    Active
    Size
    103,237 SF
    Lot size
    2.37 Acres
    Property subtype
    LAND

    Properties For Sale

    at 233 Tully Rd Contact us

    We can help!

    Listing Contact
    Nathan Peery

    Listing agent Nathan Peery

    Listing office Circle P Holdings

    Listing date Aug 16, 2022

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Circle P Holdings

    Overview

    Redevelopment Site Near Freeway

    This redevelopment site includes a building on the property. The building offers approximately 21,000 square feet, potentially suitable for smaller industrial units. The property is located in close proximity to Modesto Junior College and near the 99 Freeway. The property size is approximately 103,237 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Modesto
    County
    Stanislaus
    State
    California
    Longitude
    -121.013
    Latitude
    37.6496

    Nearby Similar for Sale

    • $769,000
      810 SF

      Modesto Multifamily Investment Opportunity

      Four units, updated interiors, tenant-occupied, convenient location.
      2212 Palisade, Modesto, CA 95350
      View Details
    • $590,000
      2,304 SF

      Modesto Triplex Investment Opportunity

      Triplex in Modesto with tenant occupied units and carports.
      2508 Haddon Ave., Modesto, CA 95354
      View Details
    • $475,000
      1,794 SF

      Modesto Duplex with Garage

      Tenant-occupied duplex in Modesto, each unit with attached garage.
      2500 Haddon Avenue, Modesto, CA 95354
      View Details
    • $175,000

      Ready-to-Build Vacant Lot

      Vacant lot with approved plans in established Modesto neighborhood.
      410 Montague Ct, Modesto, CA 95351
      View Details
    • $195,000

      Build-Ready Residential Parcel in Modesto

      Flat parcel with approved plans for primary residence and ADU.
      409 Laurel AVE, MODESTO, CA 95351
      View Details
    • $179,000

      Modesto Land Zoned R3

      Raw land zoned R3, suitable for multi-family development.
      632 Benson Avenue, Modesto, CA 95354
      View Details
    • $3,324,003
      4,214 SF

      New Medical Office in Modesto

      Newly constructed medical office building near Kaiser Permanente's Modesto campus.
      3001 Healthcare Way, Modesto, CA 95356
      View Details
    • $819,000
      10,500 SF

      Retail Property in High Traffic Area

      Retail property with high traffic and fully occupied by happy tenants.
      1324 N Carpenter, Modesto, CA 95351
      View Details
    • $769,000

      Modesto Quadplex Investment Opportunity

      Four-unit property in Whispering Woods, Modesto, offering immediate income.
      2212 Palisade, Modesto, CA 95350
      View Details
    • $1,500,000
      1,460 SF

      Triplex on Large Lot

      Triplex on nearly 5 acres with development potential.
      124/130/136 Yosemite Meadows Dr, Modesto, CA 95357
      View Details
    • $499,999

      Established Restaurant in Modesto

      Turnkey restaurant opportunity near downtown Modesto with ample parking.
      Maze, Modesto, CA 95351
      View Details
    • $425,000
      2,860 SF

      Modesto Office Space Available

      Office property for sale in Modesto, California.
      1227 7th St, Modesto, CA
      View Details

    FAQs

    What type of property is this?
    Land - Redevelopment site with existing building near Modesto Junior College.
    Where is this land located?
    The property is located at 233 Tully Rd Modesto, CA.
    What are key features of this property?
    This property features: Close proximity to 99 Freeway; **±21,000 SF for Possible Smaller Industrial Units**; Redevelopment site
    (562) 587-1994 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nathan Peery
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!