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    Property profile & analytics

    2301 Herndon Ave Clovis, CA 93611-8911

    • Office buildings
    • 25,128 SF
    • 5.11 lot acres
    OFF-MARKET
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0599099
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Floyd Johnston Construction Co Inc / Construction Company

    Property Details for 2301 Herndon Ave

    Year built
    2003
    Construction
    TILT-UP CONCRETE
    Lot size
    5.11 lot acres
    Property size
    25,128 SF
    Zone code
    M1
    Property type
    Office buildings
    APN
    564-050-48
    APU
    56405048

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,010,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.672
    Latitude
    36.8385
    CBSA code
    23420
    CBSA name
    FRESNO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $48,022
    $950,000
    $2,900,000
    $3,850,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $425,000
      8,526 SF

      2151 Herndon Ave

      OFFICE BUILDING • 8,526 SF
      2151 Herndon Ave, Clovis, CA 93611-6307
      View Details
    • Value Estimation
      $365,000
      2,495 SF

      410 Park Crk Dr

      OFFICE BUILDING • 2,495 SF
      410 Park Crk Dr, Clovis, CA 93611-4435
      View Details
    • Value Estimation
      $830,000
      10,069 SF

      550 Bush Ave

      OFFICE BUILDING • 10,069 SF
      550 Bush Ave, Clovis, CA 93611-7293
      View Details
    • Value Estimation
      $1,360,000
      60,566 SF

      377 Spruce Ave

      OFFICE BUILDING • 60,566 SF
      377 Spruce Ave, Clovis, CA 93611-8700
      View Details
    • Value Estimation
      $840,000
      20,363 SF

      352 Spruce Ave

      OFFICE BUILDING • 20,363 SF
      352 Spruce Ave, Clovis, CA 93611-8705
      View Details
    • Value Estimation
      $380,000
      5,579 SF

      1615 Shaw Ave Ste, Unit 1

      OFFICE BUILDING • 5,579 SF
      1615 Shaw Ave Ste, Clovis, CA 93611-4088
      View Details

    Similar Nearby for Sale

    • $4,000,000
      9,630 SF

      Leased Office Building For Sale

      Turnkey, fully leased office building in Clovis, California.
      2525 Alluvial Ave, Clovis, CA 93611
      View Details
    • $1,280,000
      4,580 SF

      Modern Industrial/Flex Space in Clovis

      Built in 2021, ideal for industrial or flex space.
      587 Park Creek Dr, Clovis, CA 93611
      View Details
    • Contact for pricing
      5.38 Acres

      Clovis Mixed-Use Development Land

      5.38 Acres, High-Growth Clovis Location
      2702 Alluvial Ave, Clovis, CA 93611
      View Details
    • $4,932,000
      6.29 Acres

      Clovis Commercial Land - 6.29 Acres

      Prime 6.29-acre commercial lot in Clovis, CA.
      600 Armstrong Ave, Clovis, CA 93611
      View Details
    • $3,500,000
      10,000 SF

      Greyhawk Business Center: Clovis, CA

      Retail space in prime Central Valley location.
      0 Greyhawk Phase Nwc Temperance & Alluvial, Clovis, CA 93611
      View Details
    • $2,000,000

      Prime Commercial Retail Land Available

      2.29 acres of fully improved commercial land ready to build.
      1445 Shaw Ave, Clovis, CA 93611
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr

      Modern Office Space in Clovis

      Office space in Greyhawk Business Park, near major medical facilities.
      930 N Temperance Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      20,832 SF

      New Construction Office Space Available

      New construction office space for lease with flexible configurations.
      606 N Halifax Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      8,400 SF

      Clovis Office/Retail Space Available

      Prime Clovis location, 8,400 sq ft available.
      2683 Owens Mountain Pkwy, Clovis, CA 93611
      View Details
    • $21 SF/Yr
      23,000 SF

      Clovis CA Multi-Use Commercial Space

      Versatile 23,000 sq ft building, multiple suites available.
      372 Spruce Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      260 SF

      Clovis Office Space Available

      260 square foot office space for rent in Clovis.
      1585 Shaw Ave, Clovis, CA 93611
      View Details
    • $25 SF/Yr
      16,775 SF

      Herndon Ave Office Space Available

      Clovis, CA Office Building - 16,775 SF
      2101 Herndon Ave, Clovis, CA 93611
      View Details
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    2301 Herndon Ave
    Clovis, CA 93611-8911
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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