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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Industrial properties
1572 Goodyear Ave Ventura, CA 93003-6416
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US10-1480447
Property profile
Verified
Property type
Industrial properties
Use group
MULTI-TENANT INDUSTRIAL BUILDING
Year built
2003
Total area
9,332 SF
Lot
0.52 ac (22,651 SF)
Zoning code
MPD
APN
084-0-083-145
UPID
US10-1480447
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$2.50M
Owner & transaction history
Michael L Merewether · 2 yrs held
Michael L Merewether
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
MPD · Ventura, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
D Commercial Planned Development Zone 24.244 MXD Mixed-Use Zone 24.248 Harbor Mixed-Use Zone (HMXD) 24.250 Zones Within Downtown Specific Plan 24.260 M-1 Limited Industrial Zone 24.262 M-2 General Industrial Zone 24.264 M-P-D Manufacturing Planned Development Zone 24.270 A Agricultural Zone 24.280 H Hospital Zone 24.290 P Parks Zone 24.295 CMXD Coastal Mixed…
Zone name
Manufacturing Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
654.03 ac
Source
Development Code PDF
Top alternative use upside
Neighborhood: shopping center
$3.9M
+113.1%
Apartment house (5+ units)
$3.6M
+96.1%
Medical building
$3.6M
+93.4%
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 Ventura submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ventura 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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MULTI-TENANT INDUSTRIAL BUILDING
$1,835,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,910,000
Change: +113% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,600,000
Change: +96% · Conversion: Difficult
MEDICAL BUILDING
$3,550,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,495,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,310,000
Change: +80% · Conversion: Difficult
OFFICE BUILDING
$3,175,000
Change: +73% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Jun 28 2024)
Last sale anchor
$2.50M
Jun 28 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
$268 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,866
Tax year 2023
Assessed value
$1,076,160
Assessed 2024
Previous assessed
$1,055,059
+2.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$303,942
Assessed improvement
$772,218
Applied tax rate
5.0000
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
Industrial properties
Use group
MULTI-TENANT INDUSTRIAL BUILDING
Status
Off-Market
Year built
2003
Heating
NONE
Total area
9,332 SF
Lot
0.52 ac (22,651 SF)
Zoning code
MPD
APN
084-0-083-145
UPID
US10-1480447
Jurisdiction
VENTURA
Zoning & alternative use
MPD · Ventura, CAZoning MPD · permitted uses
MPD · Ventura, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
D Commercial Planned Development Zone 24.244 MXD Mixed-Use Zone 24.248 Harbor Mixed-Use Zone (HMXD) 24.250 Zones Within Downtown Specific Plan 24.260 M-1 Limited Industrial Zone 24.262 M-2 General Industrial Zone 24.264 M-P-D Manufacturing Planned Development Zone 24.270 A Agricultural Zone 24.280 H Hospital Zone 24.290 P Parks Zone 24.295 CMXD Coastal Mixed-Use Zone Division 3. Overlay Zone Regulations 24.300 General Provisions 24.305 Resid
Zone name
Manufacturing Planned Development
General category
PLANNED_DEVELOPMENT
Zone area
654.03 ac
Source
Development Code PDF
Alternative use value scenarios
Repositioning upside vs current use
MULTI-TENANT INDUSTRIAL BUILDING Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.2M
MULTI-TENANT INDUSTRIAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2003
Heating
NONE
Lot
0.52 ac
Current owner
From public records · entity-resolved
Michael L Merewether
Individual
Mailing address
5415 START AVE, KEOSAUQUA, IA 52565
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
Jun 28, 2024
$2,500,000
Michael L Merewether
James Durley Byrd
Grant Deed
—
Apr 6, 2018
—
Byrd,james H & Laura F Trust
Byrd James H & Laura F Trust
Quit Claim Deed
related
—
Jul 7, 2003
—
Byrd,tr
—
Trustees Deed
related
$650,000 · Ventura County Business Bank
Feb 15, 2002
$626,500
Karl Harer
Pacific Business Ctr Partners
Grant Deed
related
$208,800 · First California Bank
Feb 15, 2002
$210,000
Byrd Trust
Harer,karl R & Michele M
Grant Deed
related
$125,000 · First California Bank
May 15, 1990
$556,000
Business Pacific
Maureen Cesaitis
Grant Deed
related
—
—
—
Byrdh James H & L F Trust
—
Deed Of Trust
related
$250,000 · Ventura County Business 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.
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