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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Super regional malls
3601 Pelandale Ave Modesto, CA 95356-9807
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5139445
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2011
Construction
WOOD
Total area
7,080 SF
Lot
0.74 ac (32,234 SF)
Zoning code
MOD P-D
APN
078-014-061-000
UPID
US09-5139445
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
-
Modesto Smiles Dentistry Dental Office
-
Round Table Pizza-Wings-Brew Restaurant
-
Mountain Mike's Pizza Restaurant
-
Save Mart Pharmacy Pharmacy
-
Amazon Locker - Saja Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.86M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
Stephen E Thorne IV · 3 yrs held
Stephen E Thorne IV
since 2023
7 recorded transactions
Zoning & alternative use
MOD P-D · Modesto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.3M
+42.5%
Apartment house (5+ units)
$2.1M
+27.9%
Commercial (general)
$1.9M
+19.9%
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 Modesto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Modesto 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%
$2,005,000
6.5%
$1,855,000
7%
$1,720,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,620,000
Current use
MEDICAL BUILDING
$2,305,000
Change: +42% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,070,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,940,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,710,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±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
$196 / 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
$23,661
Tax year 2024
Assessed value
$2,052,551
Assessed 2024
Previous assessed
$2,052,551
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$446,206
Assessed improvement
$1,606,345
Applied tax rate
2.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
2011
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Total area
7,080 SF
Lot
0.74 ac (32,234 SF)
Zoning code
MOD P-D
APN
078-014-061-000
UPID
US09-5139445
Jurisdiction
STANISLAUS
Zoning & alternative use
MOD P-D · Modesto, CA
Zoning MOD P-D · permitted uses
MOD P-D · Modesto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Modesto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
2011
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
0.74 ac
Current owner
From public records · entity-resolved
Stephen E Thorne IV
Individual
Free & Clear · 3 yrs held
Mailing address
1767 GERMANO WAY, PLEASANTON, CA 94566-2261
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2023
—
Stephen E Thorne IV
Modesto Covenant Group LLC
Deed
related
—
May 22, 2023
$4,110,000
Victor Neng Xiong
Stephen E Thorne
Grant Deed
—
Jul 18, 2019
—
Modesto Covenant Group LLC
—
Deed
related
$2,123,000 · Western Alliance Bank
May 3, 2018
$46,000,000
Cft Northpointe LLC
Modesto Retail Center Dst
Trustees Deed
$28,000,000 · Miscellaneous Ins Co
Jul 27, 2017
$1,250,000
Modesto Covenant Group LLC
Pelandale Development LLC
Grant Deed
$1,918,000 · Stearns Bank NA
Mar 6, 2014
—
Modesto Retail Center Dst
Costa Ltd Partners
Grant Deed
related
—
Dec 30, 2013
—
Costa Ltd Partners LP
Pelandale Dev LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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