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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2338 Elm Ave Fresno, CA 93706-4441

    • Medical offices
    • 1,782 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    9.5%
    Medical offices
    Location Intelligence
    Property ID
    US09-2254106
    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

    • Elm Veterinary Hospital / Animal Hospital

    Property Details for 2338 Elm Ave

    Year built
    1955
    Construction
    TILT-UP CONCRETE
    Lot size
    0.24 lot acres
    Property size
    1,782 SF
    Zone code
    NMX
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    478-183-18
    APU
    47818318

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $219,000
      Market price range: $219k - $526k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $360,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.791
    Latitude
    36.7164
    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
    $1,392
    $19,638
    $80,089
    $99,727
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $605,000
      26,324 SF

      2740 Elm Ave, Unit 101

      MEDICAL BUILDING • 26,324 SF
      2740 Elm Ave, Fresno, CA 93706-5435
      View Details
    • Value Estimation
      $275,000
      4,992 SF

      1235 Ee St

      MEDICAL BUILDING • 4,992 SF
      1235 Ee St, Fresno, CA 93706-2024
      View Details
    • Value Estimation
      $295,000
      3,492 SF

      5758 Elm Ave

      MEDICAL BUILDING • 3,492 SF
      5758 Elm Ave, Fresno, CA 93706-5813
      View Details
    • Value Estimation
      $380,000
      3,170 SF

      805 Fresno St

      MEDICAL BUILDING • 3,170 SF
      805 Fresno St, Fresno, CA 93706-3118
      View Details
    • Value Estimation
      $335,000
      7,000 SF

      2555 Ave, Unit 101

      MEDICAL BUILDING • 7,000 SF
      2555 Ave, Fresno, CA 93706-5104
      View Details
    • Value Estimation
      $590,000
      24,194 SF

      302 Fresno St

      MEDICAL BUILDING • 24,194 SF
      302 Fresno St, Fresno, CA 93706-3600
      View Details

    Similar Nearby for Sale

    • $1,195,000
      11,388 SF

      Downtown Fresno Industrial Flex Space

      11,388 SF industrial space with office and warehouse components.
      1257 G St, Fresno, CA 93706
      View Details
    • $695,000
      6,850 SF

      1146 B St

      Churches & religious facilities • 6,850 SF
      1146 B St, Fresno, CA 93706
      View Details
    • $995,000
      10.18 Acres

      Fresno Multifamily Development Land

      96-unit multifamily project, shovel-ready.
      2542 Elm Ave, Fresno, CA 93706
      View Details
    • $2,930,000
      11.70 Acres

      Fresno Agricultural Land - $2.93M

      11.7 Acres, Fresno, CA - Prime Location
      3641 Cherry Ave, Fresno, CA 93706
      View Details
    • $1,486,380
      35.39 Acres

      Prime Fresno Almond Orchard

      35 Acres, High-Yielding Almonds
      5025 Kearney Blvd, Fresno, CA 93706
      View Details
    • $1,000,000

      Easton Shopping Center Investment

      7,440 SF Retail Center, High Potential
      5751 Elm Ave, Fresno, CA 93706
      View Details

    Similar Nearby for Lease

    • $0.40 SF/Yr
      2,400 SF

      Medical/Professional Office Space Available

      2,400 SF medical/professional office space for lease.
      1409 N Fresno St, Fresno, CA 93706
      View Details
    • $2 SF/Yr
      3,250 SF

      Fresno Street Office Space Available

      Office space for lease in a prominent Fresno location.
      7501 N Fresno St, Fresno, CA 93706
      View Details
    • Contact for pricing
      80,750 SF

      Fresno Warehouse/Office Space

      80,750 SF Flexible Space Available
      1931 G St, Fresno, CA 93706
      View Details
    • Contact for pricing
      1,033 SF

      Versatile Commercial Space Available

      Office and retail space for rent near shopping and restaurants.
      7031 N Blythe Ave, Fresno, CA 93706
      View Details
    • Contact for pricing
      871 SF

      Office Space Available For Rent

      871 square feet office space available for rent.
      2300 Tulare St, Fresno, CA 93706
      View Details
    • $1.25 SF/Yr
      2,240 SF

      Downtown Fresno Retail/Office Space

      Retail/office spaces in downtown Fresno with ample parking.
      938-952 F St, Fresno, CA 93706
      View Details
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    2338 Elm Ave
    Fresno, CA 93706-4441
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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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