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1835 Herndon Ave, Clovis, CA 93611
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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
Current use
Occupant on record · Public records
-
Shopping Center & Mall
-
Locksmith
-
Grocery & Convenience Store Food Market
-
Pharmacy
-
Atm Currency Exchange Service
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.87M
CAP Approach
CAP
$12.28M
Comparable Approach
Comparable
$12.28M
Blend (final)
Blend
$12.27M
Owner & transaction history
since 2023
Last sale
$11.5M
6 recorded transactions
Zoning & alternative use
C2 · Clovis, CA
Top alternative use upside
Office building
$19.5M
+30.6%
Commercial (general)
$18.3M
+22.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$12.27M
Value range
$11.04M – $13.49M
±10% around blend
Estimated value / SF
$209 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$11.04M
blend $12.27M
$13.49M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
58,681 SF
Lot area
5.48 ac
Year built
2001
Stories
1
APN
563-135-23
Zoning
C2
Assessed value
$10,169,320
Annual tax
$122,502
3
Income approach: direct capitalization
Partial preview
Income approach indication
$12.28M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$13.30M
@ 6.5% CAP return
$12.28M
@ 7% CAP return
$11.40M
4
Sales comparison
Partial preview
Sales approach indication
$12.28M
Range $7.68M – $23.86M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$12.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 40 sales
$255
-18%
County 505 sales
$108
+94%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $209/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+31%
vs current-use indication
Commercial (general)
Retail Stores · current use
Restaurant
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
6.50%
Implied, in-place cap rate for this grocery and convenience stores
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.50%
9.0%
NOI (est.)
$804k *
Last sale · Oct 2023
$11.49M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$12.37M
Move the market yield to see immediate price impact.
Value / SF
$211
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.00%6.50%7.00%
$724k
$12.06M
$11.13M
$10.34M
$804k
$13.40M
$12.37M
$11.48M
$884k
$14.74M
$13.61M
$12.63M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, CAZoning C2 · permitted uses
C2 · Clovis, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2
Jurisdiction
Clovis, CA
Recorded code
C2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C2 in Clovis, CA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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