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Property profile & analytics
FOR SALE
Warehouses
3488 W Ashlan Ave Fresno, CA 93722
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3790791
For Sale
1 / 2
$6,250,000
3488 W Ashlan Ave, Fresno, CA 93722
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1972
Construction
TYPE NOT SPECIFIED
Total area
32,456 SF
Lot
5.19 ac (226,076 SF)
Zoning code
IL
APN
424-042-04
UPID
US09-3790791
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
-
Olson & Co. Steel Factory Production Facility
-
Y Cakes Cake Mix Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$2.63M
Owner & transaction history
Steel Bar Fresno LLC · 11 yrs held
Steel Bar Fresno LLC
since 2015
3 recorded transactions
Zoning & alternative use
IL · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.2M
+37.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,030,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,160,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$2.63M
Range $2.37M – $2.89M · ±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
$81 / 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
$32,049
Tax year 2024
Assessed value
$2,474,390
Assessed 2024
Previous assessed
$2,474,390
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$824,795
Assessed improvement
$1,649,595
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1972
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
32,456 SF
Lot
5.19 ac (226,076 SF)
Zoning code
IL
APN
424-042-04
UPID
US09-3790791
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
WAREHOUSE, STORAGE Current
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
WAREHOUSE, STORAGE Current
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
1972
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
5.19 ac
Current owner
From public records · entity-resolved
Steel Bar Fresno LLC
Entity
Mailing address
1941 DAVIS ST, SAN LEANDRO, CA 94577-1262
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2015
$2,100,000
Steel Bar Fresno LLC
Bostrom Living Trust
Grant Deed
$2,667,938 · Bank Of The West
Mar 27, 2006
—
Bergen Family Trust
Bergen,donald A
Quit Claim Deed
related
—
—
—
Steel Bar Fresno LLC
—
Deed Of Trust
related
$2,194,000 · Mortgage Cap Dev
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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