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

    2423 Lewis Ave, Unit A Fresno, CA 93701-1152

    • Residential income homes
    • 2,816 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3044156
    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

    • Residential income homes

    Property Details for 2423 Lewis Ave

    Year built
    1964
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Property size
    2,816 SF
    Zone code
    RM1
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    452-156-13
    APU
    45215613

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $212,000
      Market price range: $213k - $480k
      AI Estimate
      $217,000
      Market price range: $217k - $411k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $355,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.782
    Latitude
    36.7548
    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
    $1,478
    $14,178
    $94,793
    $108,971
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $270,000
      1,373 SF

      405 Glenn Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,373 SF
      405 Glenn Ave, Fresno, CA 93701-1835
      View Details
    • Value Estimation
      $255,000
      2,988 SF

      402 Calaveras St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,988 SF
      402 Calaveras St, Fresno, CA 93701-1809
      View Details
    • Value Estimation
      $235,000
      2,452 SF

      278 Calaveras St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,452 SF
      278 Calaveras St, Fresno, CA 93701-1872
      View Details
    • Value Estimation
      $260,000
      1,387 SF

      116 Calaveras St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,387 SF
      116 Calaveras St, Fresno, CA 93701-1855
      View Details
    • Value Estimation
      $240,000
      2,496 SF

      316 Roosevelt Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,496 SF
      316 Roosevelt Ave, Fresno, CA 93701-1444
      View Details
    • Value Estimation
      $310,000
      1,831 SF

      2237 Webster Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,831 SF
      2237 Webster Ave, Fresno, CA 93701-1134
      View Details

    Similar Nearby for Sale

    • New
      $990,000
      5,170 SF

      Fresno Multifamily Investment Opportunity

      Eight-unit multifamily property with reliable income and long-term stability.
      422 N Glenn Ave, Fresno, CA 93701
      View Details
    • $725,000
      7,319 SF

      Mixed-Use Building Near Downtown Fresno

      Heritage-designated mixed-use property with commercial and residential units for sale.
      373 N Fresno St, Fresno, CA 93701
      View Details
    • $239,000
      1,227 SF

      Fresno Duplex Investment Opportunity

      Duplex with remodeled unit, ideal for investors or owner-occupiers.
      2217 E Webster Ave, Fresno, CA 93701
      View Details
    • $495,000

      Mixed-Use Investment Opportunity, Fresno

      Mixed-use property with retail, apartment, and additional lot.
      349 N Fresno St, Fresno, CA 93701
      View Details
    • $239,000
      1,227 SF

      Fresno Duplex Investment Opportunity

      Duplex in Fresno, CA, featuring remodeled units and solid investment potential.
      2217 E Webster Ave, Fresno, CA 93701
      View Details
    • $698,000
      3,747 SF

      Fresno Office Building Investment

      12-unit office building, Downtown Fresno. High ROI.
      190 Van Ness Ave, Fresno, CA 93701
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      15,886 SF

      Freestanding Warehouse on Olive Ave

      High-visibility warehouse; ideal for multiple tenants.
      1907 Olive Ave, Fresno, CA 93701
      View Details
    • $1.15 SF/Yr
      950 SF

      Downtown Fresno Retail Space Available

      Retail space in downtown Fresno with high visibility and parking.
      365 N Fresno St, Fresno, CA 93701
      View Details
    • $529,900
      900 SF

      Retail Space on Blackstone Avenue

      Retail space with Blackstone Avenue exposure and ample parking.
      442-450 N Blackstone Ave, Fresno, CA 93701
      View Details
    • $1,150,000
      21,546 SF

      Turnkey Warehouse Near Freeways

      20,000 SF clear-span warehouse near CA 180 & CA 41.
      2010 E Tyler Ave, Fresno, CA 93701
      View Details
    • Contact for pricing
      3,010 SF

      Retail Space with Flexible Zoning

      Retail space with ample parking and flexible zoning.
      5137 N Blackstone Ave, Fresno, CA 93701
      View Details
    • $1.50 SF/Yr
      3,378 SF

      Move-in-Ready Medical Office Space

      Class A medical office space with high-end finishes.
      311 N Abby St, Fresno, CA 93701
      View Details
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    Fresno, CA 93701-1152
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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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