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Property profile & analytics
OFF-MARKET
Estimated value
$1,595,000
Retail space
1521 Carpenter Rd F Modesto, CA 95351-2301
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2629729
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Construction
WOOD
Total area
6,944 SF
Lot
0.73 ac (31,798 SF)
APN
081-026-057-000
UPID
US09-2629729
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
by Request
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.60M
Owner & transaction history
Babak Hemati · 9 yrs held
Babak Hemati
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.3M
+115.2%
Apartment house (5+ units)
$2.0M
+93.2%
Commercial (general)
$1.8M
+72.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,795,000
6.5%
$1,655,000
7%
$1,540,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,050,000
Current use
MEDICAL BUILDING
$2,260,000
Change: +115% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,030,000
Change: +93% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,815,000
Change: +73% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,675,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,590,000
Change: +51% · Conversion: Moderate
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±10%
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
$230 / 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
$20,419
Tax year 2024
Assessed value
$1,792,076
Assessed 2024
Previous assessed
$1,792,076
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$438,062
Assessed improvement
$1,354,014
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
NONE
Total area
6,944 SF
Lot
0.73 ac (31,798 SF)
APN
081-026-057-000
UPID
US09-2629729
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
RETAIL STORES Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
RETAIL STORES Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2004
Construction
WOOD
Heating
NONE
Lot
0.73 ac
Current owner
From public records · entity-resolved
Babak Hemati
Individual
Mailing address
114 LYFORD DR, TIBURON, CA 94920-1615
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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 27, 2016
$1,575,000
Babak Hemati
N Carpenter LLC
Grant Deed
$810,000 · Wells Fargo Bank NA
May 28, 2009
—
N Carpenter LLC
Sharp,sharon
Grant Deed
$1,520,110 · Rabobank
Dec 11, 2003
—
Sharon Sharp
Sharp,sharon & Bruce K
Quit Claim Deed
related
—
Dec 11, 2003
$1,600,000
Sharon Sharp
Campus Market Place LLC
Grant Deed
related
$1,120,000 · Tri Counties Bank
Sep 12, 2003
—
Campus Market Place LLC
Stone,ronald V
Grant Deed
related
$850,000 · Modesto Commerce Bank
—
—
Modesto Gsa LLC
—
Deed Of Trust
related
$1,322,000 · Citizens First Savings Bank
—
—
Sharon Sharp
—
Deed Of Trust
related
$1,540,000 · Rabobank
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.
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