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Property profile & analytics
FOR LEASE
Office buildings
247 E Nees Ave Fresno, CA 93720
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-5723783
For Lease
1 / 10
$10,645,000
247 E Nees Ave, Fresno, CA 93720
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2020
Construction
STEEL FRAME
Total area
67,677 SF
Lot
4 ac (174,240 SF)
Zoning code
CP
APN
303-690-58
UPID
US09-5723783
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
$11.45M
Comparable Approach
Comparable
$13.25M
Blend (final)
Blend
$10.65M
Owner & transaction history
Sugar Pine III LLC · 6 yrs held
Sugar Pine III LLC
since 2020
2 recorded transactions
Zoning & alternative use
CP · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.9M
+47.9%
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 Fresno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fresno 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%
$12,400,000
6.5%
$11,445,000
7%
$10,630,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,755,000
Current use
RESTAURANT
$15,910,000
Change: +48% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,435,000
Change: -3% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,515,000
Change: -12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,670,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$10.65M
Range $9.58M – $11.71M · ±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
$157 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$208,056
Tax year 2023
Assessed value
$17,166,600
Assessed 2023
Previous assessed
$17,166,600
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$2,392,920
Assessed improvement
$14,773,680
Applied tax rate
5.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2020
Construction
STEEL FRAME
Heating
NONE
Stories
3
Total area
67,677 SF
Lot
4 ac (174,240 SF)
Zoning code
CP
APN
303-690-58
UPID
US09-5723783
Jurisdiction
FRESNO
Zoning & alternative use
CP · Fresno, CA
Zoning CP · permitted uses
CP · Fresno, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fresno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$10.8M
RESTAURANT
Est. value
$15.9M
AUTO REPAIR, GARAGE
Est. value
$10.4M
INDUSTRIAL (GENERAL)
Est. value
$9.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2020
Construction
STEEL FRAME
Heating
NONE
Stories
3
Lot
4 ac
Current owner
From public records · entity-resolved
Sugar Pine III LLC
Entity
Mailing address
5 E RIV PARK PL W STE #203, FRESNO, CA 93720-1557
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2020
—
Sugar Pine III LLC
—
Deed
related
$15,000,000 · Miscellaneous Ins Co
—
—
Sugar Pine III LLC
—
Deed Of Trust
related
$15,000,000 · Miscellaneous Ins Co
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?”
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