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    Herndon Ave Fresno, CA 93722
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    Herndon Ave, Fresno, CA 93722

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    • Office Spaces
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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 0 Herndon Ave

    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 0.94-acre parcel (APN 501-043-31) in Fresno, CA (93722), is zoned Community Commercial (CC) and offers a prime opportunity for development. Located just north of the northwest corner of West Herndon and North Blythe Avenues, this site boasts approved building plans for a 6,500 square foot building and a 3,500 square foot building, with building permits already secured for the smaller building. The property is construction-ready, featuring a completed site and grading plan. Utilities are conveniently located along Spruce Avenue, and curb and gutter are already installed. This versatile land is ideal for executive, medical, or traditional office space, providing unparalleled convenience with nearby dining, banking, and shopping. The asking price is $950,000. This is a rare opportunity to acquire a fully permitted and ready-to-build site in a thriving Fresno location. The property's location offers easy access to essential services and amenities, making it an attractive investment for businesses seeking a strategic and convenient location.

    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
    -119.874
    Latitude
    36.8372

    Comparable in this City

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      35 Hayes Ave

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      27,393 SF

      4065 Figarden Dr

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      $5,975,000
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      4770 Herndon Ave

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      4770 Herndon Ave, Fresno, CA 93722-8401
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    • Value Estimation
      $7,155,000
      12,960 SF

      4679 Spruce Ave

      MEDICAL BUILDING
      4679 Spruce Ave, Fresno, CA 93722-8425
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    • Value Estimation
      $2,480,000
      18,988 SF

      7210 Milburn Ave

      MEDICAL BUILDING
      7210 Milburn Ave, Fresno, CA 93722-8448
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    Similar Nearby for Sale

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      50,000 SF

      Proposed Office/Medical Development Opportunity

      Proposed office and medical development with freeway access in Fresno.
      Swc Brawley & Herndon Ave, Fresno, CA 93722
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      Commercial Property For Sale

      Commercial property available for sale in Fresno, CA.
      3443 W Shaw Ave, Fresno, CA 93722
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      Land For Sale

      Land available for sale at 0 W Ashlan Ave.
      W Ashlan Ave & N Pkwy Dr, Fresno, CA 93722
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    • $2,100,000
      9.64 Acres

      Prime Land For Future Development

      Approximately 10 acres of land prime for future development.
      5866 W Shields Ave, Fresno, CA 93722
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      Land For Sale

      Land available for sale in Fresno, CA.
      West Herndon & North Brawley Avenues, Fresno, CA 93722
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    • $750,000
      9.11 Acres

      Prime Fresno Land Opportunity

      9.11 acres in a mixed-use area with income.
      1345 N Brawley Ave, Fresno, CA 93722
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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.
      35 N Hayes Ave, Fresno, CA 93722
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      1,400 SF

      Medical Space at Signalized Corner

      Versatile medical space in a like-new building with excellent traffic.
      7055 N Milburn Ave, Fresno, CA 93722
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    • Contact for pricing
      1,200 SF

      Move-in-Ready Medical Office Space

      Class A medical office space available for lease.
      7206 N Milburn Ave, Fresno, CA 93722
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      75,000 SF

      Corporate Campus with Development Potential

      Office and flex buildings with excess parking for lease.
      5104 North Blythe Ave, Fresno, CA 93722
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    • Contact for pricing

      Northwest Fresno Office Space

      Professionally managed office complex in Northwest Fresno available for lease.
      4539 N Brawley Ave, Fresno, CA 93722
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    • Contact for pricing

      Land for Rent Fresno

      Land available for rent in Fresno, California.
      N Hayes Ave, Fresno, CA 93722
      View Details
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    Herndon Ave
    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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    Herndon Ave, Fresno, CA, 93722
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