Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    551 Ashlan Ave Clovis, CA 93612-4910

    • Apartment buildings
    • 4,783 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2020
    $638,000
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    8.4%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-3702644
    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

    • Apartment buildings

    Property Details for 551 Ashlan Ave

    Year built
    1978
    Construction
    WOOD
    Lot size
    0.21 lot acres
    Property size
    4,783 SF
    Zone code
    R3
    Property type
    Apartment buildings
    APN
    430-632-30
    APU
    43063230

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,045,000
      6.5%
      $965,000
      7%
      $895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $850,000
      Market price range: $417k - $851k
      AI Estimate
      $522,000
      Market price range: $255k - $529k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $630,000
      Current use
      OFFICE BUILDING
      $965,000
      Change: +54% Conversion: Moderate
      MEDICAL BUILDING
      $935,000
      Change: +49% Conversion: Moderate
      RETAIL STORES
      $930,000
      Change: +48% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $700,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.721
    Latitude
    36.7944
    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
    $8,266
    $47,858
    $615,916
    $663,774
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,640,000
      58,536 SF

      1301 Scott Ave

      APARTMENT HOUSE (5+ UNITS) • 58,536 SF
      1301 Scott Ave, Clovis, CA 93612-2947
      View Details
    • Value Estimation
      $9,510,000
      85,666 SF

      1201 Scott Ave

      APARTMENT HOUSE (5+ UNITS) • 85,666 SF
      1201 Scott Ave, Clovis, CA 93612-2946
      View Details
    • Value Estimation
      $4,970,000
      33,656 SF

      2120 Villa Ave

      APARTMENT HOUSE (5+ UNITS) • 33,656 SF
      2120 Villa Ave, Clovis, CA 93612-3676
      View Details
    • Value Estimation
      $40,555,000
      268,956 SF

      1101 Gettysburg Ave

      APARTMENT HOUSE (100+ UNITS) • 268,956 SF
      1101 Gettysburg Ave, Clovis, CA 93612-3965
      View Details
    • Value Estimation by Request
      5,304 SF

      455 Mesa Ave

      APARTMENT HOUSE (5+ UNITS) • 5,304 SF
      455 Mesa Ave, Clovis, CA 93612-0772
      View Details
    • Value Estimation
      $1,345,000
      12,450 SF

      1042 Adler Dr

      APARTMENT HOUSE (5+ UNITS) • 12,450 SF
      1042 Adler Dr, Clovis, CA 93612-1501
      View Details

    Similar Nearby for Sale

    • $910,000

      Clovis Multifamily Investment Opportunity

      Well-maintained 5-unit apartment building in high-demand Clovis location.
      541 W Ashlan Ave, Clovis, CA 93612
      View Details
    • $1,225,000
      4,160 SF

      Clovis Multifamily Investment Opportunity

      Turnkey 5-unit multifamily property in Clovis, CA with recent renovations.
      69 W Beverly Dr, Clovis, CA 93612
      View Details
    • $625,000
      2,158 SF

      Clovis Duplex Near Amenities

      Updated duplex in central Clovis near schools and shopping.
      593 W Alamos Ave, Clovis, CA 93612
      View Details
    • $310,000
      1,371 SF

      Clovis Condominium with Upgrades

      Rare 3-bedroom Clovis condo with remodeled kitchen and community amenities.
      1454 Mayflower Way, Clovis, CA 93612
      View Details
    • Contact for pricing

      Commercial Land in Loma Vista

      Multiple mixed-use parcels totaling 30.30 acres in Clovis, CA.
      3520 Shaw Ave, Clovis, CA 93612
      View Details
    • $1,195,000
      7,410 SF

      Clovis Industrial Property For Sale

      7,410 SF industrial property available in Clovis, California.
      361 N Minnewawa Ave, Clovis, CA 93612
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Clovis Commercial Land - Build-to-Suit

      2.29 Acres, High Visibility, 600+ Parking Stalls
      0 Clovis Ca, Clovis, CA 93612
      View Details
    • Contact for pricing
      57,785 SF

      Sunflower Marketplace: Clovis Retail Space

      High-traffic retail center; spaces available.
      285-343 Shaw Ave, Clovis, CA 93612
      View Details
    • Contact for pricing
      20,400 SF

      Clovis Retail Space For Lease

      Jr. Anchor Space, 20,400 sq ft.
      384 Ashlan Ave, Clovis, CA 93612
      View Details
    • Contact for pricing

      High-Visibility Clovis Avenue Development Site

      Land available for Hotel, Retail, or Office development.
      2604 Clovis Ave, Clovis, CA 93612
      View Details
    • $1.40 SF/Yr
      981 SF

      Retail Space with Remodeled Suites

      Ground-floor retail and flexible second-floor suites available for lease.
      1450-1468 Clovis Ave, Clovis, CA 93612
      View Details
    • $0.75 SF/Yr
      26,998 SF

      Warehouse, Showroom, and Office Space

      Warehouse, showroom, and office space available for lease.
      1321 Railroad Ave, Clovis, CA 93612
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    551 Ashlan Ave
    Clovis, CA 93612-4910
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.