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    Clovis Ca Clovis, CA 93619
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    Clovis Ca, Clovis, CA 93619

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    • Retail properties & Spaces
    • 25,676 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Clovis Ca

    Year built
    2023
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    The Avenue at Heritage Grove offers exceptional Class A office space in Clovis, California. This premier development boasts three modern, two-story buildings totaling 25,676 square feet, constructed in 2023. The property features a variety of office configurations to suit diverse business needs, including traditional office, executive office, creative office, and coworking spaces. Multiple tenancy options are available, with a maximum contiguous space of 12,760 square feet. Located at the intersection of Shepherd Avenue and Willow Avenue in Fresno County (zip code 93619), this property enjoys a highly visible and accessible location. The Avenue at Heritage Grove is situated across from the newly developed The Row at Heritage Grove, offering convenient access to amenities and increased visibility. The property's design and amenities cater to businesses seeking a modern and efficient workspace in a thriving Clovis community. This is an excellent opportunity for businesses seeking high-quality office space in a prime location. The property type includes both office and retail space, offering flexibility for various business models. Contact us today to learn more about leasing opportunities at this exceptional property.

    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
    -119.73
    Latitude
    36.8668

    Comparable in this City

    • Value Estimation by Request

      Shepherd & Willow Clovis Ca

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      7.00 Acres

      Nec De Wolf Ave & Owens Mtn Pkwy

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      1 SF

      1959 Willow Ave

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      1959 Willow Ave, Clovis, CA 93619
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      2.09 Acres

      3663 Shaw Ave

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      3663 Shaw Ave, Clovis, CA 93619
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    • Value Estimation by Request

      6222 Academy Ave

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      6222 Academy Ave, Clovis, CA 93619
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    • Value Estimation by Request
      2,283 SF

      10428 Willow Ave

      NURSERY, GREENHOUSE, FLORIST
      10428 Willow Ave, Clovis, CA 93619-9134
      View Details

    Similar Nearby for Sale

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      Clovis Land For Sale

      Prime 7-acre commercial land in Clovis, California.
      Nec De Wolf Ave & Owens Mtn Pkwy, Clovis, CA 93619
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      2,178 SF

      Restaurant and Bar Opportunity

      Restaurant and bar building with ample parking for sale.
      23117 Tollhouse Rd, Clovis, CA 93619
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    • Contact for pricing
      21,702 SF

      Loma Vista Marketplace Retail Space

      Retail space in a master-planned community with high traffic.
      3682 E Shaw Ave, Clovis, CA 93619
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      Clovis Land Ready For Development

      Prime C3 zoned property in Clovis's Loma Vista Community.
      3663 E Shaw Ave, Clovis, CA 93619
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    • $475,000
      Pending

      Prime Clovis Corner Lot

      Flat, two-acre lot near Clovis Community Hospital.
      1 Locan Ave And Alluvial Ave, Clovis, CA 93619
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    Similar Nearby for Lease

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      10,523 SF

      Clovis Executive Office Suites

      Prime Clovis location, multiple suites available.
      0 Shepherd & Willow Clovis Ca, Clovis, CA 93619
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    • Contact for pricing

      Loma Vista Marketplace Retail Space

      Retail space for lease in Clovis, California.
      Shaw & Leonard Ave, Clovis, CA 93619
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    • Contact for pricing
      1,225 SF

      Retail Space in Loma Vista

      Retail space available within the Loma Vista master-planned community.
      8305 E Shaw Ave, Clovis, CA 93619
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    • Contact for pricing
      1,060 SF

      Retail Space in Growing Community

      Retail space available within a large master-planned community.
      8281 E Shaw Ave, Clovis, CA 93619
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    • Contact for pricing
      4,990 SF

      Retail Space in Loma Vista

      Retail space available within a master-planned community.
      Unnamed Rd, Clovis, CA 93619
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    • Contact for pricing
      12,760 SF

      Retail and Office Space Available

      Retail and office space for lease in Clovis, California.
      8948 N Willow Ave, Clovis, CA 93619
      View Details
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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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    Clovis Ca, Clovis, CA, 93619
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