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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Turn key restaurants
121 Pico Ave, Fallbrook, CA 92028-2039
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9897145
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1945
Total area
700 SF
Lot
0.09 ac (3,776 SF)
Zoning code
COMMERCIAL
APN
103-263-23-00
UPID
US09-9897145
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
-
Party Burgers by Booze Brothers Brewing Co Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$479k
Blend (final)
Blend
$550k
Owner & transaction history
The Slowest Boat LLC · 1 yrs held
The Slowest Boat LLC
since 2024
Last sale
$550,000
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Fallbrook, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$630,000
+37.4%
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 Fallbrook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fallbrook 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
$550,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$460,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$630,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $550k (Oct 7 2024)
Last sale anchor
$550k
Oct 7 2024
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
$786 / 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
$3,859
Tax year 2024
Assessed value
$357,000
Assessed 2024
Previous assessed
$357,000
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$173,400
Assessed improvement
$183,600
Applied tax rate
75.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1945
Heating
NONE
Units
1
Total area
700 SF
Lot
0.09 ac (3,776 SF)
Zoning code
COMMERCIAL
APN
103-263-23-00
UPID
US09-9897145
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Fallbrook, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Fallbrook, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fallbrook. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$460,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$630,000
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
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
1945
Heating
NONE
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
The Slowest Boat LLC
Entity
Mailing address
2545 S PROGRESS STK422, VISTA, CA 92081-8483
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 7, 2024
$550,000
The Slowest Boat LLC
Michael T Rodman
Grant Deed
$467,000 · Calprivate Bank
Dec 22, 2022
$350,000
Michael T Rodman
Golanski Krys
Grant Deed
$350,000 · Golanski Krys
May 22, 2020
$225,000
Golanski Krys
Jonathan H Arbel
Grant Deed
—
Jul 5, 2011
$135,000
Jonathan H Arbel
Bayview Ln Svcg LLC
Grant Deed
—
Apr 30, 2010
—
Bayview Ln Svcg LLC
Seaside Trustee INC
Trustees Deed
related
—
Dec 20, 2006
$415,000
Daniel J Pedley
Brakke Living Trust
Grant Deed
$332,000 · Interbay Funding LLC
Feb 22, 2002
$137,000
Brakek Trust
Brown Trust
Grant Deed
—
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.
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