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Property profile & analytics
FOR LEASE
Grocery and convenience stores
1835 Herndon Ave Clovis, CA 93611
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-0274293
For Lease
1 / 3
$11,775,000
1835 Herndon Ave, Clovis, CA 93611
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2001
Construction
TILT-UP CONCRETE
Total area
58,681 SF
Lot
5.48 ac (238,708 SF)
Zoning code
C2
APN
563-135-23
UPID
US09-0274293
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
-
Windmill Marketplace Shopping Center & Mall
-
KeyMe Locksmiths Locksmith
-
Save Mart Grocery & Convenience Store Food Market
-
Save Mart Pharmacy Pharmacy
-
Coinstar Kiosk | Bitcoin ATM Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.87M
CAP Approach
CAP
$12.28M
Comparable Approach
Comparable
$12.28M
Blend (final)
Blend
$11.78M
Owner & transaction history
Save Mart Supermarkets LLC · 2 yrs held
Save Mart Supermarkets LLC
since 2023
Last sale
$11.5M
6 recorded transactions
Zoning & alternative use
C2 · Clovis, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$19.5M
+30.6%
Commercial (general)
$18.3M
+22.4%
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 Clovis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clovis 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
$12,265,000
ML approach
$10,865,000
CAP Approach
CAP Return
Estimation
6%
$13,300,000
6.5%
$12,275,000
7%
$11,400,000
Alternative Use
Use
Estimation
RETAIL STORES
$14,940,000
Current use
OFFICE BUILDING
$19,505,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$18,290,000
Change: +22% · Conversion: Easy
RESTAURANT
$12,510,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$11.78M
Range $10.60M – $12.95M · ±10% · vs last sale $11.49M (Oct 6 2023)
Last sale anchor
$11.49M
Oct 6 2023
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
$201 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$122,502
Tax year 2023
Assessed value
$10,169,320
Assessed 2023
Previous assessed
$10,169,320
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,976,760
Assessed improvement
$8,192,560
Applied tax rate
1.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
2001
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
58,681 SF
Lot
5.48 ac (238,708 SF)
Zoning code
C2
APN
563-135-23
UPID
US09-0274293
Jurisdiction
FRESNO
Zoning & alternative use
C2 · Clovis, CA
Zoning C2 · permitted uses
C2 · Clovis, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Clovis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.9M
OFFICE BUILDING
Est. value
$19.5M
COMMERCIAL (GENERAL)
Est. value
$18.3M
RESTAURANT
Est. value
$12.5M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
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
2001
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
5.48 ac
Current owner
From public records · entity-resolved
Save Mart Supermarkets LLC
Entity
Mailing address
30 N LA SALLE ST STE #4140, CHICAGO, IL 60602-2900
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
—
Save Mart Supermarkets LLC
Save Mart Portfolio Owner Fund V Ca
Assignment Of Lease (leasehold Sale)
—
Oct 6, 2023
$11,485,000
Ot Sm Owner C LLC
Save Mart Portfolio Owner Fund V Ca
Grant Deed
—
Jan 22, 2021
—
Save Mart Portfolio Owner Fund V Ca
—
Deed
related
$416,800 · Wells Fargo Bank NA
Nov 20, 2020
$8,303,000
Save Mart Portfolio Owner Fund
Save Mart Supermarkets
Grant Deed
—
Mar 8, 2005
$4,038,007
Save Mart Supermarkets
Ralphs Grocery
Grant Deed
—
Jul 11, 2000
$2,266,000
Ralphs Grocery Co
Canyon/cahan Clovis LLC
Grant Deed
—
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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