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

    2940 Blackstone Ave Fresno, CA 93703-1014

    • Office buildings
    • 2,886 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1808238
    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

    • Most Wanted Tattoo / Tattoo Shop
    • Assured Therapy Drug Detox / Counselor

    Property Details for 2940 Blackstone Ave

    Year built
    1953
    Construction
    TILT-UP CONCRETE
    Lot size
    0.17 lot acres
    Property size
    2,886 SF
    Zone code
    NMX
    Property type
    Office buildings
    APN
    445-101-31
    APU
    44510131

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $349,000
      Market price range: $199k - $428k
      AI Estimate
      $424,000
      Market price range: $212k - $507k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $300,000
      Current use
      AUTO REPAIR, GARAGE
      $455,000
      Change: +51% Conversion: Difficult
      RETAIL STORES
      $295,000
      Change: -3% Conversion: Moderate
      WAREHOUSE, STORAGE
      $280,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.79
    Latitude
    36.7775
    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
    $3,570
    $55,000
    $215,000
    $270,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $250,000
      900 SF

      1370 Abby St

      OFFICE BUILDING • 900 SF
      1370 Abby St, Fresno, CA 93703-3644
      View Details
    • Value Estimation
      $455,000
      6,036 SF

      2904 Blackstone Ave

      OFFICE BUILDING • 6,036 SF
      2904 Blackstone Ave, Fresno, CA 93703-1060
      View Details
    • Value Estimation
      $390,000
      1,984 SF

      1242 Sierra Vis Ave

      OFFICE BUILDING • 1,984 SF
      1242 Sierra Vis Ave, Fresno, CA 93703-4715
      View Details
    • Value Estimation
      $250,000
      2,483 SF

      2190 Winery Ave

      OFFICE BUILDING • 2,483 SF
      2190 Winery Ave, Fresno, CA 93703-4812
      View Details
    • Value Estimation
      $290,000
      1,392 SF

      1250 Backer Ave

      OFFICE BUILDING • 1,392 SF
      1250 Backer Ave, Fresno, CA 93703-4601
      View Details
    • Value Estimation
      $370,000
      6,960 SF

      2484 Chestnut Ave

      OFFICE BUILDING • 6,960 SF
      2484 Chestnut Ave, Fresno, CA 93703-1609
      View Details

    Similar Nearby for Sale

    • $399,000
      1,732 SF

      Medical Office Space Available

      Move-in ready medical office near VA Hospital in Fresno.
      2611 N Fresno St, Fresno, CA 93703
      View Details
    • $695,000
      6,866 SF

      Fresno Office Building - Blackstone Ave

      Prime Office Space, High Visibility, Ample Parking
      2801 Blackstone Ave, Fresno, CA 93703
      View Details
    • $379,000
      2,016 SF

      Fresno Office Building - Great Investment

      Remodeled Office Building, Excellent Condition
      1359 Fresno St, Fresno, CA 93703
      View Details
    • $790,000
      6,866 SF

      Fresno Retail Investment Opportunity

      High-yield, 100% leased retail building
      2811 Blackstone Ave, Fresno, CA 93703
      View Details
    • $790,000
      6,866 SF

      Blackstone Avenue Investment Opportunity

      Freestanding, fully leased building with upside potential.
      2801-2819 N Blackstone Ave, Fresno, CA 93703
      View Details
    • $475,000

      Commercial Land on Blackstone Avenue

      Commercial land available for sale on Blackstone Avenue.
      1448 N Blackstone Ave, Fresno, CA 93703
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      1,135 SF

      Visible Office/Retail Building For Rent

      Office/retail space with kitchen, restrooms, and shower; freeway access.
      1237-1241 N Blackstone Ave, Fresno, CA 93703
      View Details
    • $1.20 SF/Yr
      2,800 SF

      Move-in Ready Medical Office Space

      First-class medical office spaces available for rent.
      4928-4944 E Clinton Ave, Fresno, CA 93703
      View Details
    • $31,240
      81,400 SF

      Versatile Industrial Complex in Fresno

      Multiple buildings with office, warehouse, and industrial spaces for lease.
      2660 S Dearing Ave, Fresno, CA 93703
      View Details
    • $535,000
      1,200 SF

      Office Space with Courtyard

      Office space featuring a fenced courtyard and outdoor patio.
      2816 N Blackstone Ave, Fresno, CA 93703
      View Details
    • $625,000
      2,364 SF

      Class A Office Space

      Move-in ready office space with on-site parking in Fresno.
      2641 Fresno St, Fresno, CA 93703
      View Details
    • $1.00 SF/Yr
      2,540 SF

      Garden Style Office Space

      Gated office complex with medical and general office tenants.
      2948 N Fresno St, Fresno, CA 93703
      View Details
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    2940 Blackstone Ave
    Fresno, CA 93703-1014
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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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