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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Banks
2008 Mchenry Ave Modesto, CA 95350-3212
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2022224
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1981
Construction
TILT-UP CONCRETE
Total area
8,640 SF
Lot
1.36 ac (59,241 SF)
APN
120-046-065-000
UPID
US09-2022224
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
-
U.S. Bank-Mortgage Sales Manager-Steven R Bordona Loan Service Bank
-
US Bank Mortgage Loan Service Bank
-
U.S. Bank: Cory Swank Loan Service Bank
-
U.S. Bank Branch Bank Loan Service
-
U.S. Bancorp Investments - Financial Advisors: Modesto Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$570k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$972k
Blend (final)
Blend
$770k
Owner & transaction history
Empty Boat LLC · 4 yrs held
Empty Boat LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+69.1%
Medical building
$890,000
+17.8%
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
$570,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$755,000
Current use
RESTAURANT
$1,275,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$890,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$715,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$89 / 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
$53,268
Tax year 2024
Assessed value
$4,812,577
Assessed 2024
Previous assessed
$4,812,577
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,114,268
Assessed improvement
$3,698,309
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1981
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
8,640 SF
Lot
1.36 ac (59,241 SF)
APN
120-046-065-000
UPID
US09-2022224
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
FINANCIAL BUILDING Current
Est. value
$755,000
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$890,000
RETAIL STORES
Est. value
$715,000
FINANCIAL BUILDING Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
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
1981
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
Empty Boat LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4167 PALMETTO WAY, SAN DIEGO, CA 92103-1262
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2021
—
Empty Boat LLC
Kristina S De Vico
Grant Deed
—
Jun 5, 2019
—
Sanfilippo Family Trust
Lawrence Sanfilippo
Affidavit Of Death
related
—
Oct 10, 2017
$4,360,000
Sanfilippo Family Trust
Modesto Prop LP Overholtzer
Grant Deed
—
Aug 2, 2011
—
Overholtzer Management Co LLC
Overholtzer P & B Trust
Quit Claim Deed
—
Jul 15, 2011
—
Overholtzer,phillip D & Linda L
Phillip D Overholtzer
Quit Claim Deed
related
—
Jun 7, 2010
—
Overholtzer,s D 2010 Trust
Sandae D Overholtzer
Quit Claim Deed
related
—
Jun 11, 2008
—
Overholtzer,paul & B Trust
Paul Overholtzer
Quit Claim Deed
related
—
Jul 29, 2003
—
Overholtzer,tr
Overholtzer,tr
Quit Claim Deed
related
—
—
—
Lloyd G Overholtzer
—
Deed Of Trust
related
$1,300,000 · Farmers & Merchants Bk Ctrl Ca
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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