Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,700,000
Manufacturing properties
23643 Ave 18 Madera, CA 93638
Entity Owned
28-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0410451
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1978
Construction
TILT-UP CONCRETE
Total area
14,400 SF
Lot
181.61 ac (7,910,931 SF)
Zoning code
IL
APN
029-280-054-000
UPID
US09-0410451
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.85M
Comparable Approach
Comparable
$3.36M
Blend (final)
Blend
$2.70M
Owner & transaction history
Azteca Milling LP · 28 yrs held
Azteca Milling LP
since 1997
1 recorded transaction
Zoning & alternative use
IL · Madera, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.2M
+99.8%
Restaurant
$2.4M
+16.3%
Office building
$2.2M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,080,000
6.5%
$2,845,000
7%
$2,640,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,090,000
Current use
COMMERCIAL (GENERAL)
$4,180,000
Change: +100% · Conversion: Difficult
RESTAURANT
$2,430,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$2,165,000
Change: +4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,065,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,050,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$2.70M
Range $2.43M – $2.97M · ±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
$188 / 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
$269,314
Tax year 2024
Assessed value
$21,898,764
Assessed 2024
Previous assessed
$21,898,764
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$2,110,672
Assessed improvement
$19,788,092
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
Off-Market
Year built
1978
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
12
Total area
14,400 SF
Lot
181.61 ac (7,910,931 SF)
Zoning code
IL
APN
029-280-054-000
UPID
US09-0410451
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
$2.1M
COMMERCIAL (GENERAL)
Est. value
$4.2M
RESTAURANT
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
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
1978
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
12
Lot
181.61 ac
Current owner
From public records · entity-resolved
Azteca Milling LP
Entity
Free & Clear · 28 yrs held
Mailing address
300 SPECTRUM CTR DR STE #1060, IRVINE, CA 92618-4988
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 1997
$5,805,500
Azteca Milling LP
Adm Milling Co
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 23643 Ave 18?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
