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    Nec Dakota And Cornelia Avenues Fresno, CA 93722
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    Nec Dakota And Cornelia Avenues Fresno, CA 93722

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    • Land
    • 12.34 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Nec Dakota And Cornelia Avenues

    Lot size
    12.34 lot acres
    Property type
    Land

    Description

    This exceptional 12.34-acre parcel, located at the northeast corner of Dakota and Cornelia Avenues in Fresno, California (APN 511-214-12), presents a unique opportunity for residential development. Zoned for medium-low density residential construction, this shovel-ready site boasts complete building plans and recorded maps, eliminating significant pre-development hurdles. All utilities—power, city water, and sewer—are conveniently stubbed to the property. The lot size is ideal, with individual lots ranging from 5,000 to 6,000 square feet, all at least 50 feet wide. The property enjoys excellent access and road capacity, avoiding traffic congestion. Its strategic location offers convenient access to major freeways (US 99, 180, and 41), proximity to regional retail developments, and is situated near existing and planned new residential developments and schools. The area demonstrates strong growth, with an estimated 70,736 households within a 5-mile radius and an estimated daily traffic volume of approximately 30,739 cars. This property is situated near major corridors servicing the college, airport, downtown, and schools. Seller financing is available. The asking price is $1,172,300. An additional ±18.93-acre parcel is also available nearby.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.88
    Latitude
    36.7863

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      Land For Sale

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      Land For Sale

      Land available for sale in Fresno, CA.
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      Prime Land For Future Development

      Approximately 10 acres of land prime for future development.
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    • New
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      Turnkey Fourplex Investment Opportunity

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      Turnkey Fourplex Investment Opportunity

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    Similar Nearby for Lease

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      Prime Commercial Land Available

      1.46 AC available for ground lease, build to suit.
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      Highway 99 Frontage Land

      Land with Highway 99 frontage, build-to-suit options available.
      4825 N Cornelia Ave, Fresno, CA 93722
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      Highway 99 Visible Land

      Approximately 53-acre site with Highway 99 visibility.
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      Office/Warehouse Suites in Ashlan/99 Park

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      High-Traffic Shopping Center Location

      Shopping center at a high-traffic intersection near Freeway 99.
      Shaw & Blythe Ave, Fresno, CA 93722
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    • Contact for pricing

      Retail Spaces in Grove Center

      Retail and restaurant spaces available in North Fresno shopping center.
      4025 W Figarden Dr, Fresno, CA 93722
      View Details
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    Fresno, CA 93722
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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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