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    540 Park Ave Clovis, CA 93611-6902
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    Property profile & analytics

    540 Park Ave, Clovis, CA 93611-6902

    View on Map
    • Apartment buildings
    • 103,826 SF
    • 5.58 lot acres
    Off-Market
    Property ID
    US09-4267206
    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.
    Value Estimations
    $9,735,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sunnyhills Apartments / Apartment Complex / Lodging

    Property Details for 540 Park Ave

    Year built
    2019
    Construction
    WOOD
    Lot size
    5.58 lot acres
    Zone code
    R2
    Property type
    Apartment buildings
    APN
    553-150-28
    APU
    55315028

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 7, 2021 — Sunnyhills Clovis LP — Deed · related $14M · Wells Fargo Bank NA
    Aug 1, 2017 — Sunnyhills-clovis LP Vandenberghe Construction INC Grant Deed —
    Jul 22, 2016 $1,600,000 Vandenberghe Construction INC Brar,judge S Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,032,000
      Market price range: $9.39M - $18.9M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $14,140,000
      Current use
      AUTO REPAIR, GARAGE
      $15,245,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.663
    Latitude
    36.8237
    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
    $151,225
    $1,749,832
    $10,283,898
    $12,033,730
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,730,000
      55,444 SF

      104 Fowler Ave

      APARTMENT HOUSE (5+ UNITS)
      104 Fowler Ave, Clovis, CA 93611-0710
      View Details
    • Value Estimation
      $5,820,000
      62,238 SF

      195 Coventry Ave, Unit 101

      APARTMENT HOUSE (5+ UNITS)
      195 Coventry Ave, Clovis, CA 93611-6863
      View Details
    • Value Estimation
      $1,380,000
      15,752 SF

      665 Fowler Ave

      APARTMENT HOUSE (5+ UNITS)
      665 Fowler Ave, Clovis, CA 93611-8612
      View Details
    • Value Estimation
      $1,545,000
      9,466 SF

      1515 Escalon Ave

      APARTMENT HOUSE (5+ UNITS)
      1515 Escalon Ave, Clovis, CA 93611-6313
      View Details
    • Value Estimation
      $13,610,000
      170,688 SF

      722 Clovis Ave

      APARTMENT HOUSE (100+ UNITS)
      722 Clovis Ave, Clovis, CA 93611-0360
      View Details
    • Value Estimation
      $10,160,000
      111,788 SF

      190 Coventry Ave, Unit 101

      APARTMENT HOUSE (5+ UNITS)
      190 Coventry Ave, Clovis, CA 93611-6838
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

      Located on the Southeast corner of Shaw and Fowler Avenue.
      1860 Shaw Ave, Clovis, CA 93611
      View Details
    • $2,500,000
      19.92 Acres

      Clovis Land with Estate Potential

      Large land parcel in Clovis, CA, for estate development.
      12919 Friant Rd, Clovis, CA 93611
      View Details
    • Contact for pricing

      Land West of Armstrong

      Land available west of Armstrong, between Alluvial & Herndon.
      600 N Armstrong Ave, Clovis, CA 93611
      View Details
    • Contact for pricing

      Prime Commercial Retail Land Available

      2.29 acres of fully improved commercial land ready to build.
      1445 Shaw Ave, Clovis, CA 93611
      View Details
    • $2,500,000
      20.00 Acres

      Land in Clovis North

      20 acre estate parcel in a gated community.
      12911 Friant Rd, Clovis, CA 93611
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,832 SF

      New Construction Office Space Available

      New construction office space for lease with flexible configurations.
      606 N Halifax Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      1,488 SF

      Clovis Retail Storefront Warehouse Space

      Retail storefront with warehouse space in Clovis, California.
      1450 Tollhouse Rd, Clovis, CA 93611
      View Details
    • Contact for pricing
      260 SF

      Clovis Office Space Available

      260 square foot office space for rent in Clovis.
      1585 Shaw Ave, Clovis, CA 93611
      View Details
    • Contact for pricing

      New Construction Mixed-Use Space

      23,000 sq ft flexible space for office, retail, and more.
      372 W Spruce Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      1,878 SF

      Retail Space in Clovis, CA

      Retail space for lease at a busy Clovis intersection.
      865 N Willow Ave, Clovis, CA 93611
      View Details
    • Contact for pricing
      5,654 SF

      Retail Pad Space in Clovis

      Retail space available in Sunrise Pavilion Center, Clovis, CA.
      2674 Alluvial Ave, Clovis, CA 93611
      View Details
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    Clovis, CA 93611-6902
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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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