Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2331 Hoover Ave Modesto, CA 95354-3907

    • Manufacturing properties
    • 38,175 SF
    • 3.69 lot acres
    OFF-MARKET
    Value Estimations
    $3,515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2024333
    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

    • Fabricated Extrusion Company / Industrial Manufacturer / Production Facility

    Property Details for 2331 Hoover Ave

    Year built
    1967
    Construction
    TILT-UP CONCRETE
    Lot size
    3.69 lot acres
    Property size
    38,175 SF
    Property type
    Manufacturing properties
    APN
    036-001-059-000
    APU
    36001059000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,469,000
      Market price range: $3.35M - $11.8M
      AI Estimate
      $3,711,000
      Market price range: $1.92M - $13.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Modesto
    County
    Stanislaus
    State
    California
    Longitude
    -120.955
    Latitude
    37.6347
    CBSA code
    33700
    CBSA name
    MODESTO, 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
    2024
    $26,893
    $483,092
    $1,369,944
    $1,853,036
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $34,160,000
      165,196 SF

      660 Mariposa Rd

      HEAVY MANUFACTURING • 165,196 SF
      660 Mariposa Rd, Modesto, CA 95354-4130
      View Details
    • Value Estimation by Request
      21,850 SF

      819 Mariposa Rd

      Manufacturing properties • 21,850 SF
      819 Mariposa Rd, Modesto, CA 95354
      View Details
    • Value Estimation
      $9,445,000
      78,403 SF

      737 Riverside Dr

      FOOD PROCESSING • 78,403 SF
      737 Riverside Dr, Modesto, CA 95354-4011
      View Details
    • Value Estimation by Request
      2.47 Acres

      Morton Blvd

      FOOD PROCESSING • 2.47 Acres
      Morton Blvd, Modesto, CA 95354
      View Details
    • Value Estimation
      $845,000
      5,278 SF

      1722 Mono Dr

      HEAVY MANUFACTURING • 5,278 SF
      1722 Mono Dr, Modesto, CA 95354-3816
      View Details
    • Value Estimation by Request
      1.75 Acres

      414 Santa Rita Ave

      FOOD PROCESSING • 1.75 Acres
      414 Santa Rita Ave, Modesto, CA 95354-3755
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Historic Industrial Building in Modesto

      Vintage industrial landmark with endless possibilities in downtown Modesto.
      G St, Modesto, CA 95354
      View Details
    • Contact for pricing
      5,250 SF

      Historic Industrial Building in Modesto

      Vintage industrial landmark with endless possibilities in downtown Modesto.
      1106 G St, Modesto, CA 95354
      View Details
    • $830,000
      5,250 SF

      Historic Industrial Building in Modesto

      Vintage industrial landmark with endless possibilities in downtown Modesto.
      G St, Modesto, CA 95354
      View Details
    • $1,595,000
      12,400 SF

      Gated Warehouse on Yosemite Blvd

      Secured warehouse with yard, billboards, and flexible zoning.
      2517 Yosemite Blvd, Modesto, CA 95354
      View Details
    • $5,798,408

      Modesto Warehouse with Rail Access

      72,540 SF warehouse on 2.48 AC with rail access.
      427 Doherty Ave, Modesto, CA 95354
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      CA, Modesto - K St

      Workspaces, services and support to help you work better in CA, Modesto - K St
      1300 K St, Modesto, CA 95354
      View Details
    • Contact for pricing

      Industrial Property with Fenced Yard

      81,000 sq ft industrial space with 30,000 sq ft yard.
      533 Doherty Ave, Modesto, CA 95354
      View Details
    • Contact for pricing
      22,306 SF

      Industrial Building in Modesto

      22,306 SF industrial building on 1.45 acres for lease.
      819 South Mariposa Rd, Modesto, CA 95354
      View Details
    • Contact for pricing
      41,374 SF

      Industrial Property in Beard District

      Industrial property in Beard District with fenced and lighted yard.
      330 S Riverside Dr, Modesto, CA 95354
      View Details
    • Contact for pricing
      126,000 SF

      Modesto Warehouse with Planned Upgrades

      126,000 SF warehouse with planned dock doors and roof.
      2105 Nathan Ave, Modesto, CA 95354
      View Details
    • Contact for pricing
      267,050 SF

      Modesto Warehouse with Rail Access

      267,050 SF warehouse on 14 acres with rail access.
      536 Mariposa Rd, Modesto, CA 95354
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2331 Hoover Ave
    Modesto, CA 95354-3907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!