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    Property profile & analytics

    660 Locust Ave Fresno, CA 93650

    • Office buildings
    • 18,050 SF
    • 1.68 lot acres
    For Sale
    View listing
    $4,395,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0214623
    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

    • Goldman Magdalin & Krikes LLP / Law Firm
    • Farewell Funeral Services: Sonksen Michael / Social Service Agency
    • Farewell Funeral Service / Social Service Agency
    • Cisneros E Anthony / Social Service Agency
    • Giovannoni Gail / Social Service Agency

    Property Details for 660 Locust Ave

    Year built
    2004
    Construction
    WOOD
    Lot size
    1.68 lot acres
    Property size
    18,050 SF
    Zone code
    IL
    Property type
    Office buildings
    APN
    405-550-77
    APU
    40555077

    Description

    This exceptional 8,947 square foot executive office space is situated within the prestigious Palm Bluffs Corporate Center at 660 W. Locust Ave, Fresno, CA 93650. Located in Fresno County, this Class A office building offers a total of 18,050 square feet, with this particular suite representing a significant portion. The space is part of a multi-tenant building, providing a vibrant and collaborative environment. The building enjoys a highly visible location, elevated from the street, making it one of the most prominent structures in the area. Its convenient location offers easy access to a variety of amenities, including numerous restaurants, essential services, and the popular River Park shopping center. This is an unparalleled opportunity to secure a substantial and well-positioned executive office space in a thriving Fresno business district. The property is ideal for businesses seeking a high-profile address and convenient access to a range of services and amenities. The suite's size offers ample space for a variety of business configurations and needs. This is a rare opportunity to lease a significant portion of a highly desirable Class A office building in a prime Fresno location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,268,000
      Market price range: $846k - $2.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,870,000
      Current use
      RESTAURANT
      $4,245,000
      Change: +48% Conversion: Moderate
      MEDICAL BUILDING
      $3,630,000
      Change: +26% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,785,000
      Change: -3% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,540,000
      Change: -12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,310,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.806
    Latitude
    36.8408
    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
    $46,212
    $1,200,000
    $2,600,000
    $3,800,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,280,000
      14,000 SF

      480 Alluvial Ave

      OFFICE BUILDING • 14,000 SF
      480 Alluvial Ave, Pinedale, CA 93650-1160
      View Details
    • Value Estimation
      $5,600,000
      35,440 SF

      7010 Palm Ave

      OFFICE BUILDING • 35,440 SF
      7010 Palm Ave, Fresno, CA 93650-1087
      View Details
    • Value Estimation
      $3,160,000
      19,968 SF

      640 Locust Ave

      OFFICE BUILDING • 19,968 SF
      640 Locust Ave, Fresno, CA 93650-1093
      View Details
    • Value Estimation
      $1,615,000
      11,484 SF

      550 Locust Ave

      OFFICE BUILDING • 11,484 SF
      550 Locust Ave, Fresno, CA 93650-1079
      View Details
    • Value Estimation by Request
      7,152 SF

      706 Herndon Ave

      OFFICE BUILDING • 7,152 SF
      706 Herndon Ave, Pinedale, CA 93650-1033
      View Details
    • Value Estimation
      $840,000
      4,888 SF

      44 Herndon Ave

      OFFICE BUILDING • 4,888 SF
      44 Herndon Ave, Fresno, CA 93650-1371
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,050 SF

      Multi-Tenant Office Building For Sale

      Multi-tenant office building with prime location and abundant parking.
      660 W Locust Ave, Fresno, CA 93650
      View Details
    • $5,358,480
      12,912 SF

      Fresno Office Building For Sale

      Office building with 12,912 square feet of space.
      1275 E Spruce Ave, Fresno, CA 93650
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    • $4,395,000
      18,050 SF

      Fresno Executive Office Building

      Prime Palm Bluffs location, high NOI, 18,050 SF
      660 Locust Ave, Fresno, CA 93650
      View Details
    • $125,000
      0.13 Acres

      Residential Lot in Pinedale, CA

      RS5-zoned residential lot in Fresno's charming Pinedale neighborhood.
      163 W Birch Ave, Pinedale, CA 93650
      View Details
    • $884,000
      7,586 SF

      Pinedale Commercial Property for Sale

      Commercial property in Pinedale, CA, featuring 7586 square feet of space.
      30 E Minarets Ave, Pinedale, CA 93650
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    Similar Nearby for Lease

    • $1.90 SF/Yr
      3,988 SF

      Classic Office Building For Sale

      Three-story office building in Early California Corporate Center.
      575 E Locust Ave, Fresno, CA 93650
      View Details
    • Contact for pricing
      90,000 SF

      Herndon Pinnacle: Class A Office Space

      New Fresno Office Complex - Suites Available
      700 Herndon Ave, Fresno, CA 93650
      View Details
    • Contact for pricing
      1,402 SF

      Fresno Office Space Available

      Office space available for rent in Fresno, CA.
      590 W Locust Ave, Fresno, CA 93650
      View Details
    • $21 SF/Yr
      8,303 SF

      North Fresno Flex Space Available

      Office/Warehouse, 8,303 SF, Gated
      550 Locust Ave, Fresno, CA 93650
      View Details
    • Contact for pricing
      4,925 SF

      Fresno Office Space For Rent

      Office space for rent in a high-visibility Fresno location.
      7050 N Palm Ave, Fresno, CA 93650
      View Details
    • $5,500 /Mo
      4,996 SF

      Office/Warehouse Space Near CA-41

      4,996 SF office/warehouse with easy freeway access and flexible zoning.
      32 W Spruce Ave, Fresno, CA 93650
      View Details
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    660 Locust Ave
    Fresno, CA 93650
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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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