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    Sec Of Herndon & Fowler Ave Clovis, CA 93611
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    Sec Of Herndon & Fowler Ave, Clovis, CA 93611

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    • Retail properties & Spaces
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    Cap Rate Potential
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    • Retail properties & Spaces

    Property Details for 0 Sec Of Herndon & Fowler Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional retail opportunity is located at the southeast corner of Herndon and Fowler Avenues in Clovis, California (zip code 93611), Fresno County. The property consists of two Class A buildings offering flexible space ideal for single or multi-tenant occupancy. Available space ranges from a minimum of 1,500 square feet to a maximum contiguous space of 20,000 square feet, making it suitable for a variety of retail concepts. The property is zoned for Regional Commercial use, providing versatility for potential tenants. The site offers build-to-suit and ground lease options to accommodate specific business needs. A significant advantage is the proximity to the Clovis Unified District offices and a night school currently under construction, which will add an estimated 800 to 1,000 people within walking distance, creating a substantial increase in foot traffic and potential clientele. This prime location presents a unique opportunity for businesses seeking high visibility and access to a growing customer base in a thriving Clovis community. The property is situated in a high-traffic area with excellent access and visibility from Herndon and Fowler Avenues.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.684
    Latitude
    36.8374

    Comparable in this City

    • Value Estimation by Request

      490 Clovis Ave

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    • Value Estimation by Request
      36,698 SF

      Herndon & Fowler Avenues

      Individual retail properties
      0 Herndon & Fowler Avenues, Clovis, CA 93611
      View Details
    • Value Estimation
      $720,000
      5,952 SF

      1798 Ashlan Ave

      RETAIL STORES (PERSONAL SERVICES)
      1798 Ashlan Ave, Clovis, CA 93611-5191
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    • Value Estimation
      $2,750,000
      15,748 SF

      1749 Ashlan Ave

      RETAIL STORES (PERSONAL SERVICES)
      1749 Ashlan Ave, Clovis, CA 93611
      View Details
    • Value Estimation
      $735,000
      5,500 SF

      1755 Herndon Ave

      RETAIL STORES (PERSONAL SERVICES)
      1755 Herndon Ave, Clovis, CA 93611-6197
      View Details
    • Value Estimation
      $1,125,000
      9,100 SF

      1850 Herndon Ave

      RETAIL STORES (PERSONAL SERVICES)
      1850 Herndon Ave, Clovis, CA 93611-6102
      View Details

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      Retail Space in Clovis, CA

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      Commercial Land For Sale

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      1860 Shaw Ave, Clovis, CA 93611
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      Prime Commercial Retail Land Available

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      1445 Shaw Ave, Clovis, CA 93611
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      Retail Space in Clovis, CA

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      Retail Pad Space in Clovis

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      Retail Space in Clovis, CA

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      20,000 SF

      Clovis Retail Space Available

      20,000 SF retail space for rent in Clovis.
      1840 Herndon Ave, Clovis, CA 93611
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    • Contact for pricing

      New Construction Mixed-Use Space

      23,000 sq ft flexible space for office, retail, and more.
      372 W Spruce Ave, Clovis, CA 93611
      View Details
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    Clovis, CA 93611
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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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