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Property profile & analytics
OFF-MARKET
Estimated value
$2,230,000
Retail space
1588 Msn Rd, Fallbrook, CA 92028-4112
Trust Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9905639
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Total area
12,152 SF
Lot
0.62 ac (27,007 SF)
Zoning code
COMMERCIAL
APN
104-250-33-00
UPID
US09-9905639
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
-
Richard A. Nervig, P.C. Law Firm
-
The Carlson | Group Real Estate Agency
-
Brazen Boudoir Photography Service (Bike/Boat/Book/etc) Store
-
ProFlo Air Conditioning, Heating & Plumbing HVAC Service General Contractor
-
Little Dell Music Studio Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.94M
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$2.23M
Owner & transaction history
Shin Susan Trust · 21 yrs held
Shin Susan Trust
since 2004
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Fallbrook, CA
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,180,000
6.5%
$2,935,000
7%
$2,725,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,785,000
Current use
Blend value · Realmo final
$2.23M
Range $2.01M – $2.45M · ±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
$184 / 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
$20,359
Tax year 2024
Assessed value
$1,900,000
Assessed 2024
Previous assessed
$1,900,000
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$582,000
Assessed improvement
$1,318,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1990
Heating
NONE
Units
1
Bathrooms
1
Total area
12,152 SF
Lot
0.62 ac (27,007 SF)
Zoning code
COMMERCIAL
APN
104-250-33-00
UPID
US09-9905639
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
RETAIL STORES Current
Est. value
$2.8M
RETAIL STORES 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
1990
Heating
NONE
Units
1
Bathrooms
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
Shin Susan Trust
Trust
Mailing address
421 MERIDA DR, FALLBROOK, CA 92028-4070
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2019
—
Shin,susan Trust
—
Deed
related
$620,000 · Bank Of Hope
Oct 25, 2004
$1,800,000
Shin Susan Trust
Alvarez Louis M Trust
Grant Deed
$1,200,000 · Temecula Valley Bank NA
May 19, 2004
—
Harriman,tr
Fallbrook Business Center LLC
Grant Deed
related
—
Jan 8, 1988
$365,000
Fallbrook Office Park
Unknown
Grant Deed
—
—
—
Fallbrook Business Center LLC
—
Deed Of Trust
related
$650,000 · Sunrise Bank
—
—
Shin,susan Trust
—
Deed Of Trust
related
$620,000 · Bank Of Hope
—
—
Shin,susan Trust
—
Deed Of Trust
related
$650,000 · Bank Of Hope
—
—
Shin,susan Trust
—
Deed Of Trust
related
$775,000 · Provident Savings Bank
—
—
Fallbrook Business Center
—
Deed Of Trust
related
$510,000 · Fallbrook Business Center
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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