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    601 Mchenry Ave Modesto, CA 95350-5411
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    Property profile & analytics

    601 Mchenry Ave, Modesto, CA 95350-5411

    View on Map
    • Office Spaces
    • 9,738 SF
    • 0.49 lot acres
    Off-Market
    Property ID
    US09-0263500
    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
    $2,135,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cruise Americard / Travel Agency
    • Boyett Petroleum, Corporate Office / Corporate Office
    • Cruisers / Grocery & Convenience Store

    Property Details for 601 Mchenry Ave

    Year built
    1961
    Construction
    TILT-UP CONCRETE
    Lot size
    0.49 lot acres
    Zone code
    C2
    Property type
    Office Spaces
    APN
    113-001-055-000
    APU
    113001055000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 1, 2019 — Patterson Ranch Dev LLC — Deed Of Trust · related $7.1M · Bank Of The West
    Dec 8, 2015 — Boyett,d & K 2004 Living Trust Boyett C & C 2003 Trust Quit Claim Deed · related —
    May 29, 2008 — Boyett D & K 2004 Living Trust Boyett,dale & Kirstie Quit Claim Deed · related —
    Jun 4, 2004 $875,000 Boyett,tr Modesto Community Hospice INC Grant Deed —
    Apr 4, 1995 $470,000 Modesto Community Hospice INC Azadi,fereydoun & Margagret A Grant Deed $380k · Wells Fargo Bank
    — — Fereydoun Azadi — Deed Of Trust · related $250k · Wells Fargo Bank
    — — Boyett C & C 2003 Living Trust — Deed Of Trust · related $815k · Bank Of The West

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,265,000
      6.5%
      $2,090,000
      7%
      $1,940,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,697,000
      Market price range: $1.70M - $4.48M
      AI Estimate
      $1,613,000
      Market price range: $732k - $2.85M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,985,000
      Current use
      MEDICAL BUILDING
      $3,170,000
      Change: +6% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,850,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Modesto
    County
    Stanislaus
    State
    California
    Longitude
    -120.994
    Latitude
    37.6531
    CBSA code
    33700
    CBSA name
    MODESTO, 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
    2024
    $16,636
    $450,535
    $1,009,504
    $1,460,039
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $2,510,000
      14,244 SF

      1604 Frd Ave

      OFFICE (GENERAL)
      1604 Frd Ave, Modesto, CA 95350-4631
      View Details
    • Value Estimation
      $1,640,000
      8,258 SF

      1110 Tully Rd

      OFFICE (GENERAL)
      1110 Tully Rd, Modesto, CA 95350-4996
      View Details
    • Value Estimation
      $1,200,000
      3,408 SF

      Needham St

      OFFICE (GENERAL)
      Needham St, Modesto, CA 95350
      View Details
    • Value Estimation
      $800,000
      4,976 SF

      2020 Standiford Ave, Unit D

      OFFICE (GENERAL)
      2020 Standiford Ave, Modesto, CA 95350-6529
      View Details
    • Value Estimation by Request
      6,874 SF

      212 Campus Way

      OFFICE (GENERAL)
      212 Campus Way, Modesto, CA 95350-5846
      View Details
    • Value Estimation
      $1,370,000
      12,144 SF

      101 College Ave

      OFFICE (GENERAL)
      101 College Ave, Modesto, CA 95350-5979
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,380 SF

      Retail Showroom and Warehouse Space

      Retail showroom, warehouse, and office space on a busy corridor.
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    • $1,200,000

      Dental Practice & Real Estate

      Established dental practice and commercial property in McHenry Village.
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      Established Modesto Hair Salon

      Turnkey hair salon opportunity in a desirable Modesto location.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,095 SF

      Modesto Office Space Available

      7,095 SF office space for rent in Modesto, CA.
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    • Contact for pricing
      1,134 SF

      Medical/Dental Office Space Available

      1,134 SF medical/dental suite for lease near Highway 99.
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      View Details
    • Contact for pricing
      1,500 SF

      Office Space Available For Rent

      Office suites available for lease in Modesto, California.
      3224 D Mchenry Ave, Modesto, CA 95350
      View Details
    • Contact for pricing
      1,970 SF

      Medical/Retail Space in Central Modesto

      6,223 SF medical/retail space in high-visibility Modesto center.
      1320 Standiford Ave, Modesto, CA 95350
      View Details
    • Contact for pricing
      1,970 SF

      Retail/Medical Space in Central Modesto

      High-visibility retail/medical space in central Modesto with ample parking.
      1400 Standiford Ave, Modesto, CA 95350
      View Details
    • Contact for pricing
      1,560 SF

      Retail Spaces Available For Lease

      Retail spaces available in Modesto, California.
      1031-1049 Orangeburg Ave, Modesto, CA 95350
      View Details
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    Modesto, CA 95350-5411
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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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