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Property profile & analytics
OFF-MARKET
Estimated value
$6,165,000
Manufacturing properties
2068 Lapham Dr Modesto, CA 95354-3909
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US09-0487500
Property summary
AI-generated overview
This exceptional 45,614-square-foot industrial property in Modesto, CA, presents a significant investment opportunity. Located on a 3.4-acre lot at 2068 Lapham Dr, 95354, this vacant facility boasts a 15,320-square-foot freezer with impressive 38.5-foot ceilings. Built in 1966 and renovated in 1998, the two-story building features four dock-high doors and a loading ramp, ensuring efficient material handling. The property is zoned M3 Heavy Industrial, providing flexibility for various uses. Ample parking is available, with 1.59 spaces per 1,000 square feet. The building offers a substantial 4,000-amp electrical service, ideal for power-intensive operations. Its strategic location just north of the Modesto City Airport provides excellent access to transportation networks. This former food processing facility offers a unique blend of space, infrastructure, and functionality, making it suitable for a wide range of industrial and cold storage businesses. The property's APN is 036-018-026. A virtual tour is available. The lease type is NNN.
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1966
Construction
TILT-UP CONCRETE
Total area
45,614 SF
Lot
3.04 ac (132,422 SF)
APN
036-018-026-000
UPID
US09-0487500
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
-
PLM Operations, LLC Take-out & Catering Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.69M
Comparable Approach
Comparable
$5.70M
Blend (final)
Blend
$6.17M
Owner & transaction history
Ignacio Gutierrez · 10 yrs held
Ignacio Gutierrez
since 2016
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$7,240,000
6.5%
$6,685,000
7%
$6,205,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$9,165,000
Current use
Blend value · Realmo final
$6.17M
Range $5.55M – $6.78M · ±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
$135 / 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
$39,230
Tax year 2024
Assessed value
$3,046,925
Assessed 2024
Previous assessed
$3,046,925
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$622,775
Assessed improvement
$2,424,150
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
1966
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
45,614 SF
Lot
3.04 ac (132,422 SF)
APN
036-018-026-000
UPID
US09-0487500
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
$9.2M
INDUSTRIAL (GENERAL) Current
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
1966
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
3.04 ac
Current owner
From public records · entity-resolved
Ignacio Gutierrez
Individual
Mailing address
2068 LAPHAM DR, MODESTO, CA 95354-3909
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2017
—
Ignacio Gutierrez
—
Deed
related
$1,932,000 · Us Bank NA
May 13, 2016
—
Ignacio Gutierrez
Gutierrez,patricia
Quit Claim Deed
related
—
Aug 2, 2007
—
Ignacio Gutierrez
Ignacio Gutierrez
Intrafamily Transfer
related
$2,200,000 · Wells Fargo Bank NA
—
—
Ignacio Gutierrez
—
Deed Of Trust
related
—
—
—
Ignacio Gutierrez
—
Deed Of Trust
related
$3,000,000 · Ge Capital Equity Holdings INC
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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