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Property profile & analytics
OFF-MARKET
Estimated value
$39,995,000
Manufacturing properties
1836 Lapham Dr Modesto, CA 95354-3900
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0284330
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1945
Construction
TILT-UP CONCRETE
Total area
256,014 SF
Lot
19.38 ac (844,193 SF)
APN
036-017-015-000
UPID
US09-0284330
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
-
Mercer Foods, LLC. Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$37.52M
Comparable Approach
Comparable
$39.74M
Blend (final)
Blend
$40.00M
Owner & transaction history
Mrc Modesto LLC · 5 yrs held
Mrc Modesto LLC
since 2021
Last sale
$40.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$58.5M
+13.8%
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%
$40,645,000
6.5%
$37,520,000
7%
$34,840,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$51,435,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$58,540,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$40.00M
Range $36.00M – $43.99M · ±10% · vs last sale $40.10M (Jan 7 2021)
Last sale anchor
$40.10M
Jan 7 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
$156 / 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
$265,146
Tax year 2024
Assessed value
$21,224,160
Assessed 2024
Previous assessed
$21,224,160
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$3,448,926
Assessed improvement
$17,775,234
Applied tax rate
80.0000
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
Off-Market
Year built
1945
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Total area
256,014 SF
Lot
19.38 ac (844,193 SF)
APN
036-017-015-000
UPID
US09-0284330
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
INDUSTRIAL (GENERAL) Current
Est. value
$51.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$58.5M
INDUSTRIAL (GENERAL) Current
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
1945
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Lot
19.38 ac
Current owner
From public records · entity-resolved
Mrc Modesto LLC
Entity
Free & Clear · 5 yrs held
Mailing address
888 7TH AVE, NEW YORK, NY 10106-0200
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2021
—
Mrc Modesto Ca LLC
—
Deed
related
$26,065,000 · Metlife Real Estate Lending LLC
Jan 7, 2021
$40,100,000
Mrc Modesto LLC
Mercer Foods LLC
Grant Deed
—
Mar 10, 2017
—
Mercer Foods LLC
—
Grant Deed
related
$71,300,000 · Antares Cap
Feb 5, 2013
—
Mercer Foods LLC
—
Deed Of Trust
related
$24,587,500 · Us Bank NA
Jan 27, 2012
$5,000,000
Mercer Foods LLC
Arco Securities INC
Grant Deed
$22,000,000 · Us Bank NA
Sep 18, 1998
$2,100,000
Modesto Real Estate Co
Campbell Soup Co
Grant Deed
$1,365,000 · Wells Fargo Bank
—
—
Mercer Foods LLC
—
Loan Modification
related
$32,000,000 · Us Bk
—
—
Arco Securities INC
—
Deed Of Trust
related
$1,450,000 · Modesto Commerce Bank
—
—
Mercer Foods LLC
—
Loan Modification
related
$32,337,500 · Us Bk
—
—
Mercer Foods LLC
—
Loan Modification
related
$35,096,615 · Us Bk
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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