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Property profile & analytics
OFF-MARKET
Estimated value
$13,130,000
Warehouses
1209 Ave I I Lancaster, CA 93535-2115
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0111557
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1978
Construction
TILT-UP CONCRETE
Total area
84,560 SF
Lot
9 ac (392,217 SF)
Zoning code
LRD21*
APN
3176-021-061
UPID
US10-0111557
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
-
Plumber For Lancaster CA, Antelope Valley CA, Palmdale CA Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.35M
Comparable Approach
Comparable
$13.35M
Blend (final)
Blend
$13.13M
Owner & transaction history
R & B Storage LP · 8 yrs held
R & B Storage LP
since 2017
4 recorded transactions
Zoning & alternative use
LRD21* · Lancaster, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$19.0M
+80.6%
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 Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,710,000
6.5%
$16,350,000
7%
$15,180,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,510,000
Current use
OFFICE BUILDING
$18,985,000
Change: +81% · Conversion: Difficult
Blend value · Realmo final
$13.13M
Range $11.82M – $14.44M · ±10%
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
$155 / 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
$165,524
Tax year 2024
Assessed value
$11,712,947
Assessed 2024
Previous assessed
$11,712,947
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$557,758
Assessed improvement
$11,155,189
Applied tax rate
10.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1978
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
4
Stories
1
Units
21
Bathrooms
1
Total area
84,560 SF
Lot
9 ac (392,217 SF)
Zoning code
LRD21*
APN
3176-021-061
UPID
US10-0111557
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LRD21* · Lancaster, CA
Zoning LRD21* · permitted uses
LRD21* · Lancaster, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$10.5M
OFFICE BUILDING
Est. value
$19.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
4
Units
21
Bathrooms
1
Lot
9 ac
Current owner
From public records · entity-resolved
R & B Storage LP
Entity
Mailing address
20371 IRVINE AVE STE #100, NEWPORT BEACH, CA 92660-0119
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2022
—
R&b Storange LP
—
Deed
related
$19,000,000 · Farmers & Merchants Bank Of Central Ca
Aug 18, 2017
$10,500,000
R & B Storage LP
Stor-rite Of Antelope Valley LLC
Grant Deed
$9,000,000 · Rushing Family Trust (pt)
Jun 24, 2010
—
Stor-rite Of Antelope Valley LLC
Vogel W & B Living Trust
Quit Claim Deed
related
—
Apr 2, 1996
—
Vogel Wayne N
—
Deed Of Trust
related
—
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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