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    490 Clovis Ave Clovis, CA 93611
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    490 Clovis 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 490 Clovis Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This 1,050 square foot storefront retail space is located within the Black Horse Shopping Center at 490 N Clovis Ave, Clovis, CA 93611. The property enjoys a prime location at the northeast corner of Herndon and Clovis Avenues, benefiting from high traffic volume and excellent visibility. This busy intersection offers easy access from both streets. The center boasts a strong tenant mix including national and regional brands such as Jimmy John's, McDonald's, Supercuts, Chevron, and several other local businesses. The property's strategic position across the street from the Highway 168 on/off ramps at Herndon Avenue ensures a large daytime population and strong regional draw, further enhanced by its proximity to Clovis Crossing. The surrounding area features a high-income residential population. This space presents a unique opportunity for a business seeking high visibility and access to a substantial customer base in a thriving retail center. The total building square footage is not currently available.

    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
    -119.7
    Latitude
    36.8388

    Comparable in this City

    • Value Estimation by Request

      Sec Of Herndon & Fowler Ave

      Individual retail properties
      0 Sec Of Herndon & Fowler Ave, Clovis, CA 93611
      View Details
    • 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
      View Details
    • 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

    Similar Nearby for Sale

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      M-1 Lot in Clovis

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      2,160 SF

      Retail Space in Clovis, CA

      Retail space available for sale in Clovis, California.
      1187 N Willow, Clovis, CA 93611
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      Commercial Land For Sale

      Located on the Southeast corner of Shaw and Fowler Avenue.
      1860 Shaw Ave, Clovis, CA 93611
      View Details
    • $2,500,000
      19.92 Acres

      Clovis Land with Estate Potential

      Large land parcel in Clovis, CA, for estate development.
      12919 Friant Rd, Clovis, CA 93611
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      Prime Commercial Retail Land Available

      2.29 acres of fully improved commercial land ready to build.
      1445 Shaw Ave, Clovis, CA 93611
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    Similar Nearby for Lease

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      1,488 SF

      Clovis Retail Storefront Warehouse Space

      Retail storefront with warehouse space in Clovis, California.
      1450 Tollhouse Rd, Clovis, CA 93611
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    • Contact for pricing
      20,000 SF

      Clovis Retail Space Available

      20,000 SF retail space for rent in Clovis.
      1840 Herndon Ave, Clovis, CA 93611
      View Details
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      1,878 SF

      Retail Space in Clovis, CA

      Retail space for lease at a busy Clovis intersection.
      865 N Willow Ave, Clovis, CA 93611
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      Retail Pad Space in Clovis

      Retail space available in Sunrise Pavilion Center, Clovis, CA.
      2674 Alluvial Ave, Clovis, CA 93611
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    • Contact for pricing
      1,372 SF

      Retail Space in Clovis, CA

      Retail shop space available at Willow and Alluvial avenues.
      835 N Willow 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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    490 Clovis Ave, Clovis, CA, 93611
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