Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1515 Herndon Ave Clovis, CA 93611

    • Commercial real estate
    • 1.31 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5085340
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Valvoline Instant Oil Change / Car Repair And Maintenance Service / Oil Change Service

    Property Details for 1515 Herndon Ave

    Lot size
    1.31 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.31-acre commercial land parcel, totaling 57,063 square feet, presents a remarkable ground lease opportunity in the thriving city of Clovis, California. Located at 1515 Herndon Avenue, this property boasts 120 feet of frontage on Herndon Avenue, a premier retail corridor known for its high traffic volume and strong commercial presence. The property's APN is 563-270-02 within Fresno County, and its zoning is designated as Commercial. The site benefits from its strategic position, situated east of a major Walmart Supercenter and west of the Clovis Community Hospital and medical complex, ensuring consistent high visibility and accessibility. Surrounding the property are several recently constructed retail establishments, including well-known national brands such as Les Schwab, Valvoline, Del Taco, and CVS, creating a vibrant and desirable commercial environment. This single-tenant land parcel offers significant potential for a variety of commercial uses, making it an ideal investment for discerning buyers seeking a prime location in a rapidly growing market. The property's address is 1515 Herndon Ave, Clovis, CA 93611, and its cross street is Fowler.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.68723988326
    Latitude
    36.83812413115

    Comparable in this City

    • Contact for pricing
      8,400 SF

      Clovis Office/Retail Space Available

      Prime Clovis location, 8,400 sq ft available.
      2683 Owens Mountain Pkwy, Clovis, CA 93611
      View Details
    • $1.00 SF/Yr
      4,950 SF

      Automotive Repair Space in Clovis

      Automotive repair space for lease with freeway access.
      177 N Sunnyside Ave, Clovis, CA 93611
      View Details
    • $21 SF/Yr
      23,000 SF

      Clovis CA Multi-Use Commercial Space

      Versatile 23,000 sq ft building, multiple suites available.
      372 Spruce Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      260 SF

      Clovis Office Space Available

      260 square foot office space for rent in Clovis.
      1585 Shaw Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      20,000 SF

      Clovis Retail Pads - Herndon & Fowler

      Prime Clovis retail space, build-to-suit options.
      0 Sec Of Herndon & Fowler Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      20,832 SF

      New Construction Office Space Available

      New construction office space for lease with flexible configurations.
      606 N Halifax Ave, Clovis, CA 93611
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5.38 Acres

      Clovis Mixed-Use Development Land

      5.38 Acres, High-Growth Clovis Location
      2702 Alluvial Ave, Clovis, CA 93611
      View Details
    • $4,932,000
      6.29 Acres

      Clovis Commercial Land - 6.29 Acres

      Prime 6.29-acre commercial lot in Clovis, CA.
      600 Armstrong Ave, Clovis, CA 93611
      View Details
    • $2,000,000

      Prime Commercial Retail Land Available

      2.29 acres of fully improved commercial land ready to build.
      1445 Shaw Ave, Clovis, CA 93611
      View Details
    • $750,000

      Clovis Land Parcel For Sale

      1.15 acre commercial land parcel in Clovis, California.
      2351 Tollhouse Rd, Clovis, CA 93611
      View Details
    • $2,500,000
      20.00 Acres

      Land in Clovis North

      20 acre estate parcel in a gated community.
      12911 Friant Rd, Clovis, CA 93611
      View Details
    • $1,299,900
      3,454 SF

      Clovis Industrial Property - Prime Location

      Manufacturing/Commercial Lot, 3,454 sq ft, $1.3M
      25 Sunnyside Ave, Clovis, CA 93611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Clovis Retail Pads - Herndon & Fowler

      Prime Clovis retail space, build-to-suit options.
      0 Sec Of Herndon & Fowler Ave, Clovis, CA 93611
      View Details
    • $2 SF/Yr

      Modern Office Space in Clovis

      Office space in Greyhawk Business Park, near major medical facilities.
      930 N Temperance Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      1,488 SF

      Clovis Retail Storefront Warehouse Space

      Retail storefront with warehouse space in Clovis, California.
      1450 Tollhouse Rd, Clovis, CA 93611
      View Details
    • Contact for pricing
      20,832 SF

      New Construction Office Space Available

      New construction office space for lease with flexible configurations.
      606 N Halifax Ave, Clovis, CA 93611
      View Details
    • $9,300 /Mo
      9,311 SF

      Clovis Warehouse with Gated Yard

      Warehouse in Clovis featuring a gated yard and loading dock.
      1424 Los Altos Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      2,000 SF

      Clovis Flex-Industrial Space Available

      2,000 SF flex-industrial space in Clovis, California for lease.
      3471 Lind Ave, Clovis, CA 93611
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 Herndon Ave
    Clovis, CA 93611
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.