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Property profile & analytics
FOR LEASE
Super regional malls
947 W Olive Ave Porterville, CA 93257
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-5975293
For Lease
1 / 5
$1,600/Mo
947 W Olive Ave, Porterville, CA 93257
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2007
Construction
WOOD
Total area
3,525 SF
Lot
0.4 ac (17,392 SF)
Zoning code
C-3
APN
259-111-013-000
UPID
US09-5975293
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Starbucks Cafe & Coffee Shop
-
Kabob Land Mediterranean Food Restaurant
-
Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$2.53M
Owner & transaction history
Jerry Lee · 4 yrs held
Jerry Lee
since 2022
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
C-3 · Porterville, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
100.01: TITLE AND AUTHORITY:
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Porterville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Porterville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,640,000
ML approach
$2,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10% · vs last sale $2.37M (Jun 30 2022)
Last sale anchor
$2.37M
Jun 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$718 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$26,131
Tax year 2024
Assessed value
$2,412,300
Assessed 2024
Previous assessed
$2,412,300
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$459,000
Assessed improvement
$1,953,300
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2007
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
1
Stories
1
Units
3
Bathrooms
4
Total area
3,525 SF
Lot
0.4 ac (17,392 SF)
Zoning code
C-3
APN
259-111-013-000
UPID
US09-5975293
Jurisdiction
TULARE
Zoning & alternative use
C-3 · Porterville, CAZoning C-3 · permitted uses
C-3 · Porterville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
100.01: TITLE AND AUTHORITY:
Building & site characteristics
From public records
Year built
2007
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Units
3
Bathrooms
4
Lot
0.4 ac
Current owner
From public records · entity-resolved
Jerry Lee
Individual
Mailing address
1600 DAVIS DR, BURLINGAME, CA 94010-4632
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$2,365,000
Jerry Lee
Cloverleaf Mesa Investment Group Ll
Grant Deed
$700,000 · Credit Union 1
Mar 13, 2018
—
Cloverleaf Mesa Investments Group L
—
Deed
related
$900,000 · Us Bank NA
Dec 7, 2006
—
Cloverleaf Mesa Inv Group LLC
—
Trustees Deed
related
$1,183,324 · First Private Bank & Trust
Apr 10, 2006
—
Cloverleaf Mesa Inv Grp LLC
Suncor Holdings-cop II LLC
Grant Deed
$204,750 · First Private Bank & Trust
Jan 5, 2006
—
Suncor Holdings Cop II LLC
Conocophillips Co
Corporation Deed
$104,865,329 · Istar Financial INC
Apr 7, 1997
—
Tosco Corp
Union Oil Company Ca
Grant Deed
related
—
—
—
Cloverleaf Mesa Inv Group LLC
—
Deed Of Trust
related
$1,350,000 · First Commerce Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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