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Property profile & analytics
OFF-MARKET
Estimated value
$1,770,000
Flex space
272 Palm Ave Fresno, CA 93701-1436
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US09-0060055
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1945
Construction
WOOD
Total area
11,672 SF
Lot
0.43 ac (18,750 SF)
Zoning code
IL
APN
459-112-28
UPID
US09-0060055
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
Current use
Occupant on record · Public records
-
Patton Air Conditioning Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$1.77M
Owner & transaction history
Fmg Properties LLC · 8 yrs held
Fmg Properties LLC
since 2017
4 recorded transactions
Zoning & alternative use
IL · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+67.2%
Medical building
$2.3M
+43.0%
Office building
$1.9M
+13.0%
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%
$1,430,000
6.5%
$1,320,000
7%
$1,225,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,640,000
Current use
RESTAURANT
$2,745,000
Change: +67% · Conversion: Difficult
MEDICAL BUILDING
$2,345,000
Change: +43% · Conversion: Difficult
OFFICE BUILDING
$1,855,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,770,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,480,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.77M
Range $1.59M – $1.95M · ±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
$152 / 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
$17,216
Tax year 2024
Assessed value
$1,338,619
Assessed 2024
Previous assessed
$1,338,619
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$128,283
Assessed improvement
$1,210,336
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1945
Construction
WOOD
Heating
NONE
Stories
1
Total area
11,672 SF
Lot
0.43 ac (18,750 SF)
Zoning code
IL
APN
459-112-28
UPID
US09-0060055
Jurisdiction
FRESNO
Zoning & alternative use
IL · Fresno, CA
Zoning IL · permitted uses
IL · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1945
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Fmg Properties LLC
Entity
Mailing address
272 N PALM AVE, FRESNO, CA 93701-1436
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2017
$1,400,000
Fmg Properties LLC
Patton,robert M & Ellen D
Grant Deed
$1,400,000 · Patton Robert M & Ellen M
Feb 4, 2005
—
Patton Michael & Ellen Trust
Patton,robert M & Ellen D
Quit Claim Deed
related
—
Apr 15, 2003
$300,000
Robert M Patton
Patton,tr
Grant Deed
related
$300,000 · Patton Trust
Mar 14, 2003
—
Patton,tr
Patton,tr
Quit Claim Deed
related
—
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.
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