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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1245 Springfield Ave Reedley, CA 93654-3236

    • Apartment buildings
    • 51,366 SF
    • 3.59 lot acres
    OFF-MARKET
    Value Estimations
    $4,680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3296540
    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

    • Apartment buildings

    Property Details for 1245 Springfield Ave

    Year built
    1990
    Construction
    WOOD
    Lot size
    3.59 lot acres
    Property size
    51,366 SF
    Zone code
    RM2
    Property type
    Apartment buildings
    APN
    370-150-53
    APU
    37015053

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,624,000
      Market price range: $4.08M - $9.20M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $6,535,000
      Current use
      AUTO REPAIR, GARAGE
      $7,540,000
      Change: +15% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,470,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Reedley
    County
    Fresno
    State
    California
    Longitude
    -119.436
    Latitude
    36.596
    CBSA code
    23420
    CBSA name
    FRESNO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $41
    $77,921
    $3,488,438
    $3,566,359
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $16,315,000
      196,548 SF

      1194 En Ave

      APARTMENT HOUSE (100+ UNITS) • 196,548 SF
      1194 En Ave, Reedley, CA 93654
      View Details
    • Value Estimation
      $2,655,000
      21,960 SF

      1290 Dinuba Ave

      APARTMENT HOUSE (5+ UNITS) • 21,960 SF
      1290 Dinuba Ave, Reedley, CA 93654-3581
      View Details
    • Value Estimation
      $1,430,000
      14,904 SF

      1645 Avea-b

      APARTMENT HOUSE (5+ UNITS) • 14,904 SF
      1645 Avea-b, Reedley, CA 93654-7048
      View Details
    • Value Estimation by Request
      4,270 SF

      929 Ee St

      APARTMENT HOUSE (5+ UNITS) • 4,270 SF
      929 Ee St, Reedley, CA 93654-2630
      View Details
    • Value Estimation
      $750,000
      7,392 SF

      705 Evening Glow Ave, Unit 101

      APARTMENT HOUSE (5+ UNITS) • 7,392 SF
      705 Evening Glow Ave, Reedley, CA 93654-3152
      View Details
    • Value Estimation
      $595,000
      6,498 SF

      629 Springfield Ave, Unit 211

      APARTMENT HOUSE (5+ UNITS) • 6,498 SF
      629 Springfield Ave, Reedley, CA 93654-3138
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Move-in Ready Mobile Home

      Spacious mobile home with community pool in gated park.
      1300 W Olson Ave, Reedley, CA 93654
      View Details
    • Contact for pricing
      35.50 Acres

      Kings River Village Development Land

      35.5 Acres, Reedley CA - Prime Location
      0 Buttonwillow Ave, Reedley, CA 93654
      View Details
    • $450,000
      1,600 SF

      1325 I St, Reedley, CA 93654

      Industrial properties • 1,600 SF
      1325 I St, Reedley, CA 93654
      View Details
    • $200,000

      Reedley Smoke Shop Investment

      Thriving Smoke Shop, High Profits
      793 Reed Ave, Reedley, CA 93654
      View Details
    • $90,000
      2,500 SF

      Profitable Restaurant Business Opportunity

      Turnkey restaurant for sale in Reedley, CA. Includes equipment.
      1514 Manning Ave, Reedley, CA 93654
      View Details
    • $575,000
      3,260 SF

      Retail Building on Corner Lot

      Retail building with salon equipment and tenant-occupied suite.
      1452 11Th St, Reedley, CA 93654
      View Details

    Similar Nearby for Lease

    • $2.00 SF/Yr
      1,336 SF

      Move-In Ready Medical Office Space

      First-class medical/professional office space near Reedley Hospital.
      326-346 W Carob Ave, Reedley, CA 93654
      View Details
    • $1.25 SF/Yr
      975 SF

      Retail Space in Busy Corridor

      Retail space available in established, high-traffic area with ample parking.
      1623 11Th St, Reedley, CA 93654
      View Details
    • Contact for pricing
      2,664 SF

      Retail Space Near Reedley Campus

      Retail space available near Reedley College and High School.
      589 I St, Reedley, CA 93654
      View Details
    • $1.25 SF/Yr
      1,300 SF

      Downtown Reedley Office Space Available

      1,300 SF office space with great signage and parking.
      1202 G St, Reedley, CA 93654
      View Details
    • $1,200 /Mo
      936 SF

      Retail Space in Busy Corridor

      Available retail space in a busy, established retail corridor.
      1056-1060 G St, Reedley, CA 93654
      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.
    1245 Springfield Ave
    Reedley, CA 93654-3236
    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.