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Property profile & analytics
OFF-MARKET
Estimated value
$1,295,000
Warehouses
1902 Hedges Ave Fresno, CA 93728-1135
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0211673
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1991
Construction
TYPE NOT SPECIFIED
Total area
14,823 SF
Lot
0.6 ac (26,100 SF)
Zoning code
BP
APN
449-200-14
UPID
US09-0211673
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.69M
Blend (final)
Blend
$1.30M
Owner & transaction history
Mark Shirin · 20 yrs held
Mark Shirin
since 2006
4 recorded transactions
Zoning & alternative use
BP · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.1M
+53.0%
Industrial (general)
$2.1M
+49.4%
Office building
$1.9M
+36.1%
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 Fresno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fresno 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,395,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,135,000
Change: +53% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,085,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$1,900,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±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
$87 / 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
$11,562
Tax year 2024
Assessed value
$900,000
Assessed 2024
Previous assessed
$900,000
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$90,000
Assessed improvement
$810,000
Applied tax rate
5.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
14,823 SF
Lot
0.6 ac (26,100 SF)
Zoning code
BP
APN
449-200-14
UPID
US09-0211673
Jurisdiction
FRESNO
Zoning & alternative use
BP · Fresno, CA
Zoning BP · permitted uses
BP · Fresno, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fresno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1991
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Mark Shirin
Individual
Mailing address
2106 W FIR AVE, FRESNO, CA 93711-7149
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2006
$710,000
Mark Shirin
Lakhani,shafiq S
Grant Deed
$515,219 · Sahatdjian Sarkis & Iris Trust
Nov 5, 2002
$500,000
Shafiq S Lakhani
Iacobellis,tr
Grant Deed
$365,000 · Iacobellis Trust
Nov 17, 1994
—
Iacobellis Trust
Iacobellis,sam F & Helene
Quit Claim Deed
related
—
Dec 28, 1989
$70,000
Sam F Iacobellis
Obrien,jerry
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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