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    Property profile & analytics

    603 Dewitt Ave Clovis, CA 93612

    • Office buildings
    • 6,397 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Apr 11, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2528399
    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

    • Office buildings

    Property Details for 603 Dewitt Ave

    Year built
    1992
    Construction
    WOOD
    Lot size
    0.51 lot acres
    Property size
    6,397 SF
    Zone code
    C3
    Property type
    Office buildings
    APN
    497-071-14
    APU
    49707114

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.704
    Latitude
    36.8227
    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
    $10,059
    $276,814
    $566,396
    $843,210
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      30,036 SF

      451 Clovis Ave

      OFFICE BUILDING • 30,036 SF
      451 Clovis Ave, Clovis, CA 93612-1194
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    • Value Estimation by Request
      1,980 SF

      842 Clovis Ave

      OFFICE BUILDING • 1,980 SF
      842 Clovis Ave, Clovis, CA 93612-1865
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    • Value Estimation by Request
      12,302 SF

      619 Woodworth Ave

      OFFICE BUILDING • 12,302 SF
      619 Woodworth Ave, Clovis, CA 93612-1873
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    • Value Estimation by Request
      5,400 SF

      215 Clovis Ave

      OFFICE BUILDING • 5,400 SF
      215 Clovis Ave, Clovis, CA 93612-0365
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    • Value Estimation by Request
      23,064 SF

      215 Dakota Ave

      OFFICE BUILDING • 23,064 SF
      215 Dakota Ave, Clovis, CA 93612-5608
      View Details
    • Value Estimation
      $485,000
      700 SF

      1103 Barstow Ave

      OFFICE BUILDING • 700 SF
      1103 Barstow Ave, Clovis, CA 93612-1904
      View Details

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      Clovis Retail/Office Building

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    • $4,310,000
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      Retail Building in Clovis, CA

      12,250 SF retail building with nine tenants for sale.
      240 W Shaw Ave, Clovis, CA 93612
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    • $1,225,000
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      Clovis Multifamily Investment Opportunity

      Turnkey 5-unit multifamily property in Clovis, CA with recent renovations.
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    • Contact for pricing

      Commercial Land in Loma Vista

      Multiple mixed-use parcels totaling 30.30 acres in Clovis, CA.
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    Similar Nearby for Lease

    • $995,000
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      Freestanding Office Building in Clovis

      3,870 SF office building with great exposure in Old Town.
      324 Bullard Ave, Clovis, CA 93612
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    • $0.75 SF/Yr
      26,998 SF

      Warehouse, Showroom, and Office Space

      Warehouse, showroom, and office space available for lease.
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      View Details
    • Contact for pricing
      83,295 SF

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      High-traffic location, excellent leasing opportunity
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      Clovis Office Space Available

      Office space available for rent in Clovis, California.
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      12,000 SF

      Prime Clovis Location on Shaw

      Excellent visibility, signage, desirable demographics, high traffic counts.
      111-159 W Shaw Ave, Clovis, CA 93612
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    • $21 SF/Yr
      2,174 SF

      Clovis Office Space for Lease

      2,174 sq ft Traditional Office Space Available
      334 Shaw Ave, Clovis, CA 93612
      View Details
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    603 Dewitt Ave
    Clovis, CA 93612
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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.

    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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