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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1298 Gillett St El Centro, CA 92243-9469

    • Retail space
    • 3.14 lot acres
    OFF-MARKET
    Last Sale
    Jul 05, 2024
    $275,000
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9193539
    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

    • Retail space

    Property Details for 1298 Gillett St

    Lot size
    3.14 lot acres
    Property type
    Retail space
    APN
    054-280-041-000
    APU
    54280041000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $275,000
      ML approach
      $275,000

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

    Location Insight

    • Map
    • Local Demand
    City
    El Centro
    County
    Imperial
    State
    California
    Longitude
    -115.519
    Latitude
    32.7935
    CBSA code
    20940
    CBSA name
    EL CENTRO, 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
    2024
    $3,728
    $310,387
    $21,605
    $331,992
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $510,000
      4.90 Acres

      1745 4th St

      RETAIL STORES (PERSONAL SERVICES) • 4.90 Acres
      1745 4th St, El Centro, CA 92243-4506
      View Details
    • Value Estimation
      $345,000
      4.12 Acres

      1845 4th St

      RETAIL STORES (PERSONAL SERVICES) • 4.12 Acres
      1845 4th St, El Centro, CA 92243-4508
      View Details
    • Value Estimation
      $800,000
      6.09 Acres

      2099 Adams Ave

      RETAIL STORES (PERSONAL SERVICES) • 6.09 Acres
      2099 Adams Ave, El Centro, CA 92243
      View Details
    • Value Estimation
      $585,000
      3.15 Acres

      1850 Bradshaw Dr

      RETAIL STORES (PERSONAL SERVICES) • 3.15 Acres
      1850 Bradshaw Dr, El Centro, CA 92243-1608
      View Details
    • Value Estimation
      $335,000
      1.35 Acres

      899 Danenberg Dr

      RETAIL STORES (PERSONAL SERVICES) • 1.35 Acres
      899 Danenberg Dr, El Centro, CA 92243-8506
      View Details
    • Value Estimation
      $720,000
      4.71 Acres

      2901 Dogwood Rd

      RETAIL STORES (PERSONAL SERVICES) • 4.71 Acres
      2901 Dogwood Rd, El Centro, CA 92243-9601
      View Details

    Similar Nearby for Sale

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      El Centro Commercial Building For Sale

      Commercial building in downtown El Centro with medical office and warehouse/retail.
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      Freestanding Retail Building For Sale

      Prime retail building in high-traffic El Centro location.
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    • $4,000,000
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      El Centro Retail/Office Investment

      High-Yield Multi-Tenant Property in CA
      1627 Main St, El Centro, CA 92243
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    • $2,850,000

      El Centro QSR Land - Prime Location

      High-traffic corner lot, build-to-suit option.
      2215 4Th St, El Centro, CA 92243
      View Details
    • $1,100,000
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      Freestanding Automotive Building For Sale

      Freestanding commercial/automotive building in a high-traffic location.
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    • $550,000
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      El Centro Auto Shop - Prime Location

      Profitable Auto Shop, Owner Will Relocate
      600 Broadway St, El Centro, CA 92243
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      62,386 SF

      El Centro Retail Space Available

      Grocery-anchored storefront, 1935 SF.
      1702 Imperial Ave, El Centro, CA 92243
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Available For Rent

      Retail space available for rent in El Centro, CA.
      1109-1151 S 4Th St, El Centro, CA 92243
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space Near New Courthouse

      Well-maintained retail space with convenient access and nearby amenities.
      605 Wake Ave, El Centro, CA 92243
      View Details
    • $1.00 SF/Yr
      15,550 SF

      El Centro Commercial Space Available

      Office and retail spaces available in El Centro, California.
      510 W Main St, El Centro, CA 92243
      View Details
    • Contact for pricing
      1,500 SF

      Retail Shops Next to Food

      New retail shops in regional shopping destination on Imperial Avenue.
      2420 Cottonwood Dr, El Centro, CA 92243
      View Details
    • Contact for pricing
      13,800 SF

      Retail Space Near Major Retailers

      Retail space with high visibility near Target and Lowe’s.
      2053-2295 N Imperial Ave, El Centro, CA 92243
      View Details
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    1298 Gillett St
    El Centro, CA 92243-9469
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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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