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Property profile & analytics
OFF-MARKET
Estimated value
$5,460,000
Office Spaces
1521 Carpenter Rd Modesto, CA 95351-1147
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-1504959
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2003
Construction
WOOD
Total area
26,240 SF
Lot
2.29 ac (99,752 SF)
APN
081-026-061-000
UPID
US09-1504959
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cycle Gear Motorcycle Shop
-
F&M Bank Bank Loan Service
-
US Social Security Administration Social Security Office
-
Interim HealthCare of Modesto Home Health Care Service Nursing Agency
-
Progressive Auto Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.62M
CAP Approach
CAP
$5.63M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.46M
Owner & transaction history
Hq Modesto LLC · 4 yrs held
Hq Modesto LLC
since 2021
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.6M
+24.5%
Apartment house (5+ units)
$7.7M
+11.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Modesto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Modesto submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$6,270,000
ML approach
$5,615,000
CAP Approach
CAP Return
Estimation
6%
$6,100,000
6.5%
$5,630,000
7%
$5,230,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,865,000
Current use
MEDICAL BUILDING
$8,550,000
Change: +25% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$7,675,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$6,330,000
Change: -8% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,000,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$5.46M
Range $4.91M – $6.01M · ±10% · vs last sale $4.89M (Dec 30 2021)
Last sale anchor
$4.89M
Dec 30 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$208 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$57,968
Tax year 2024
Assessed value
$5,087,556
Assessed 2024
Previous assessed
$5,087,556
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,144,440
Assessed improvement
$3,943,116
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Total area
26,240 SF
Lot
2.29 ac (99,752 SF)
APN
081-026-061-000
UPID
US09-1504959
Jurisdiction
STANISLAUS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.9M
MEDICAL BUILDING
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.7M
INDUSTRIAL (GENERAL)
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2003
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
2.29 ac
Current owner
From public records · entity-resolved
Hq Modesto LLC
Entity
Mailing address
1521 N CARPENTER RDE, MODESTO, CA 95351-1147
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
$4,890,000
Hq Modesto LLC
1521 North Carpenter Road LLC
Grant Deed
$4,156,500 · First Citizens Bank & Trust Co
May 5, 2020
$3,975,000
North Carpenter Road LLC
1521 N Carpenter LLC
Grant Deed
$2,993,750 · Bank Of Stockton
May 11, 2016
$2,336,500
1521 N Carpenter LLC
Wells Fargo 2005-cibc11
Grant Deed
—
Nov 24, 2015
$3,300,000
Wells Fargo Bk 2005-cibc11 Tr
Sbs Trust Deed Network|modesto Gsa LLC
Trustees Deed
related
—
Mar 4, 2005
—
Modesto Gsa LLC
Metz,craig
Grant Deed
$5,400,000 · Cibc INC
Nov 22, 2004
—
Paul R Engh
Engh,d L
Quit Claim Deed
related
—
Oct 18, 2004
—
Paul R Engh
Santa Ana Imperial LLC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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