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    Property profile & analytics

    848 Clovis Ave Clovis, CA 93612-1806

    • Office buildings
    • 1,800 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2020
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    8.2%
    Office buildings
    Location Intelligence
    Property ID
    US09-1699156
    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

    • Ixtus Insurance Service / Insurance Agency
    • Valiant General Insurance Solutions / Insurance Agency

    Property Details for 848 Clovis Ave

    Year built
    1973
    Construction
    WOOD
    Lot size
    0.09 lot acres
    Property size
    1,800 SF
    Zone code
    C3
    Property type
    Office buildings
    APN
    497-093-05
    APU
    49709305

    Description

    This 1,800 square foot office building, located at 848 Clovis Ave, Clovis, CA 93612, presents a compelling investment opportunity. Built in 1973, the property sits on a 0.086-acre lot and is zoned C-2, allowing for versatile commercial uses, including executive and medical offices. The building's prime location in Clovis offers high visibility and accessibility, making it attractive to a wide range of tenants. The well-maintained exterior and landscaping contribute to its curb appeal. With its 1,800 square feet of space, this property offers significant potential for modernization and increased value. Its strategic positioning within the thriving Clovis area ensures proximity to amenities and services, enhancing its appeal to both businesses and investors. The asking price is $600,000. This Class C building represents a solid investment in a dynamic commercial market. Don't miss this chance to acquire a well-located, versatile commercial property with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $425,000
      6.5%
      $390,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $382,000
      Market price range: $175k - $511k
      AI Estimate
      $220,000
      Market price range: $102k - $313k

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

    Location Insight

    • Map
    • Local Demand
    City
    Clovis
    County
    Fresno
    State
    California
    Longitude
    -119.701
    Latitude
    36.8198
    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
    $3,114
    $66,929
    $184,060
    $250,989
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,055,000
      30,036 SF

      451 Clovis Ave

      OFFICE BUILDING • 30,036 SF
      451 Clovis Ave, Clovis, CA 93612-1194
      View Details
    • Value Estimation
      $295,000
      1,980 SF

      842 Clovis Ave

      OFFICE BUILDING • 1,980 SF
      842 Clovis Ave, Clovis, CA 93612-1865
      View Details
    • Value Estimation
      $610,000
      12,302 SF

      619 Woodworth Ave

      OFFICE BUILDING • 12,302 SF
      619 Woodworth Ave, Clovis, CA 93612-1873
      View Details
    • Value Estimation
      $395,000
      5,400 SF

      215 Clovis Ave

      OFFICE BUILDING • 5,400 SF
      215 Clovis Ave, Clovis, CA 93612-0365
      View Details
    • Value Estimation
      $665,000
      23,064 SF

      215 Dakota Ave

      OFFICE BUILDING • 23,064 SF
      215 Dakota Ave, Clovis, CA 93612-5608
      View Details
    • Value Estimation
      $345,000
      6,397 SF

      603 Dewitt Ave

      OFFICE BUILDING • 6,397 SF
      603 Dewitt Ave, Clovis, CA 93612
      View Details

    Similar Nearby for Sale

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      Clovis Industrial Property For Sale

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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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    • $625,000
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    Similar Nearby for Lease

    • $995,000
      3,870 SF

      Freestanding Office Building in Clovis

      3,870 SF office building with great exposure in Old Town.
      324 Bullard 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
    • Contact for pricing
      2,119 SF

      Available Retail and Office Space

      Executive office, retail, and end cap space for lease.
      150-198 Shaw Ave, Clovis, CA 93612
      View Details
    • Contact for pricing
      700 SF

      Office Space in Clovis, CA

      700 SF office space available for rent in Clovis.
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      View Details
    • Contact for pricing
      83,295 SF

      Clovis Retail & Office Center

      High-traffic location, excellent leasing opportunity
      10 Bullard Ave, Clovis, CA 93612
      View Details
    • $0.54 SF/Yr
      500 SF

      Clovis Office Space Available

      Office space available for rent in Clovis, California.
      1715 Minnewawa Ave, Clovis, CA 93612
      View Details
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    848 Clovis Ave
    Clovis, CA 93612-1806
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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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