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Property profile & analytics
OFF-MARKET
Estimated value
$10,675,000
Industrial land
20237 Masa St Madera, CA 93638-9457
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-1543004
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
54,000 SF
Lot
37.32 ac (1,625,659 SF)
Zoning code
IL
APN
029-110-003-000
UPID
US09-1543004
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
-
Calbee America, Inc Big Box & Wholesale Store Food Market
-
Tostada Bowls Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.01M
CAP Approach
CAP
$10.66M
Comparable Approach
Comparable
$12.60M
Blend (final)
Blend
$10.68M
Owner & transaction history
Warnock Food Products INC · 5 yrs held
Warnock Food Products INC
since 2021
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
IL · Madera, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.7M
+99.8%
Restaurant
$9.1M
+16.3%
Office building
$8.1M
+3.6%
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 Madera submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madera 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
$9,365,000
ML approach
$7,010,000
CAP Approach
CAP Return
Estimation
6%
$11,550,000
6.5%
$10,660,000
7%
$9,900,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$7,840,000
Current use
COMMERCIAL (GENERAL)
$15,670,000
Change: +100% · Conversion: Difficult
RESTAURANT
$9,120,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$8,125,000
Change: +4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,740,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,680,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$10.68M
Range $9.61M – $11.74M · ±10% · vs last sale $14.00M (Apr 21 2021)
Last sale anchor
$14.00M
Apr 21 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
$198 / 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
$257,454
Tax year 2024
Assessed value
$21,865,225
Assessed 2024
Previous assessed
$21,865,225
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,421,740
Assessed improvement
$20,443,485
Applied tax rate
61.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Total area
54,000 SF
Lot
37.32 ac (1,625,659 SF)
Zoning code
IL
APN
029-110-003-000
UPID
US09-1543004
Jurisdiction
MADERA
Zoning & alternative use
IL · Madera, CA
Zoning IL · permitted uses
IL · Madera, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madera. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$7.8M
COMMERCIAL (GENERAL)
Est. value
$15.7M
RESTAURANT
Est. value
$9.1M
OFFICE BUILDING
Est. value
$8.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$7.7M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Lot
37.32 ac
Current owner
From public records · entity-resolved
Warnock Food Products INC
Entity
Mailing address
20237 MASA ST, MADERA, CA 93638-9457
Mailing matches property
Yes
Owner-occupied
Yes
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
Apr 21, 2021
$14,000,000
Warnock Food Products INC
Berenda Holdings LLC
Grant Deed
—
May 30, 2019
$851,500
Berenda Holdings LLC
Warnock Family Trust
Grant Deed
$2,500,000 · Donald Warnock
Sep 11, 2014
—
Warnock Family Trust
Warnock,donald G & Cathryn R
Quit Claim Deed
related
—
Jul 30, 2002
—
Warnock,tr
—
Trustees Deed
related
$677,000 · United Security Bank
Feb 9, 2001
—
Warnock Trust
Warnock,donald G & Cathryn R
Quit Claim Deed
related
—
Jul 21, 1994
—
Donald G Warnock
Warnock,donald G
Quit Claim Deed
related
$796,500 · United Security Bank
—
—
Donald G Warnock
—
Deed Of Trust
related
$442,500 · United Security Bank
—
—
Donald G Warnock
—
Deed Of Trust
related
$366,000 · Fresno Certified Dev Corp
—
—
Warnock,tr
—
Deed Of Trust
related
$1,210,277 · United Security Bank
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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