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Property profile & analytics
OFF-MARKET
Estimated value
$6,010,000
Warehouses
15 Morgan Irvine, CA 92618-2005
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2752489
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1982
Total area
35,596 SF
Lot
1.68 ac (73,147 SF)
APN
591-052-09
UPID
US10-2752489
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
-
Valeant Pharmaceuticals Factory Production Facility
-
EAG Laboratories Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.01M
Owner & transaction history
Morgan Bay Partners LLC · 14 yrs held
Morgan Bay Partners LLC
since 2012
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Irvine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Irvine 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,415,000
Current use
Blend value · Realmo final
$6.01M
Range $5.41M – $6.61M · ±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
$169 / 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
$107,147
Tax year 2024
Assessed value
$10,282,427
Assessed 2024
Previous assessed
$10,282,427
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$4,503,151
Assessed improvement
$5,779,276
Applied tax rate
26.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1982
Heating
NONE
Stories
1
Total area
35,596 SF
Lot
1.68 ac (73,147 SF)
APN
591-052-09
UPID
US10-2752489
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.4M
WAREHOUSE, STORAGE Current
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
1982
Heating
NONE
Stories
1
Lot
1.68 ac
Current owner
From public records · entity-resolved
Morgan Bay Partners LLC
Entity
Mailing address
115 N DOHENY DR APT #1, WEST HOLLYWOOD, CA 90048-2827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2020
—
Morgan Bay Partners LLC
—
Deed
related
$7,480,000 · Wolf Living Trust (lt)
Mar 16, 2012
$8,350,000
Morgan Bay Partners LLC
Club Deal 138 Irvine LLC
Grant Deed
—
Sep 29, 2008
$6,800,000
Cd138 Irvine LLC
Evans Analytical Group LLC
Grant Deed
$4,420,000 · Td Bank NA
Sep 17, 2008
—
Evans Analytical Group LLC
Micro Electronic Failure Analy
Grant Deed
—
Dec 19, 2007
—
Micro Electronic Failure Analy
Gergen,jon & Laurany
Grant Deed
—
Aug 10, 2007
$4,800,000
Jon Gergen
Mp Irvine LLC
Grant Deed
$3,840,000 · California Bank & Trust
Nov 19, 2003
$4,450,000
Mp Irvine LLC
Fifteen Morgan LLC
Grant Deed
—
Jun 30, 1999
—
Burnett Trust
Du,benjamin P
Grant Deed
related
—
Jun 14, 1989
$2,251,000
D Leasing
Irvine Industria
Grant Deed
$250,000 · Canada Life Insurance
—
—
Mp Irvine LLC
—
Deed Of Trust
related
$3,375,000 · Bank Of The West
—
—
Morgan Bay Partners LLC
—
Deed Of Trust
related
$7,480,000 · Wolf Living Trust (lt)
—
—
Morgan Bay Partners LLC
—
Deed Of Trust
related
$7,480,000 · Wolf Living Trust (pt)
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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