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Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Grocery and convenience stores
159 Main St Lake Elsinore, CA 92530
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2866637
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1930
Construction
WOOD
Total area
3,702 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C1
APN
374-263-004
UPID
US10-2866637
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
-
BRIX Realty Real Estate Agency
-
Tulips Trophies & Treasures (Bike/Boat/Book/etc) Store Florist
-
Bloom Ice Cream + Coffee Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
$815k
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.28M
Owner & transaction history
Vihaan Investments LLC · 6 yrs held
Vihaan Investments LLC
since 2020
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
C1 · Lake Elsinore, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
or conversion of residential structures to commercial/office uses. § 17.116.080 Landscape improvements. § 17.116.090 Parking. § 17.116.100 Signs. § 17.116.110 Design review. § 17.116.120 Design standards. Chapter 17.120 C-1 NEIGHBORHOOD COMMERCIAL DISTRICT § 17.120.010 Purpose. § 17.120.020 Permitted uses. § 17.120.030 Uses subject to a conditional use permi…
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
101.12 ac
Top alternative use upside
Office building
$1.7M
+53.4%
Auto repair, garage
$1.6M
+45.0%
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 Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore 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
$1,015,000
ML approach
$1,490,000
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$815,000
7%
$760,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,100,000
Current use
OFFICE BUILDING
$1,690,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,600,000
Change: +45% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,095,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$1,010,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.40M · ±10% · vs last sale $1.38M (Aug 5 2020)
Last sale anchor
$1.38M
Aug 5 2020
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
$344 / 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
$15,266
Tax year 2024
Assessed value
$1,459,161
Assessed 2024
Previous assessed
$1,459,161
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$397,953
Assessed improvement
$1,061,208
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1930
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,702 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C1
APN
374-263-004
UPID
US10-2866637
Jurisdiction
RIVERSIDE
Zoning & alternative use
C1 · Lake Elsinore, CAZoning C1 · permitted uses
C1 · Lake Elsinore, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
or conversion of residential structures to commercial/office uses. § 17.116.080 Landscape improvements. § 17.116.090 Parking. § 17.116.100 Signs. § 17.116.110 Design review. § 17.116.120 Design standards. Chapter 17.120 C-1 NEIGHBORHOOD COMMERCIAL DISTRICT § 17.120.010 Purpose. § 17.120.020 Permitted uses. § 17.120.030 Uses subject to a conditional use permit. § 17.120.040 Site criteria. § 17.120.050 Setbacks. § 17.120.060 Building height.
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
101.12 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
MEDICAL 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
1930
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Vihaan Investments LLC
Entity
Mailing address
39291 SHREE RD, TEMECULA, CA 92591-7283
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2020
$1,375,000
Vihaan Investments LLC
Manuel R Merino
Grant Deed
$1,200,000 · Manuel R Merino
Jan 13, 2006
$500,000
Manuel R Merino
Pich,wilfried H & Georgie F
Grant Deed
$425,000 · Wilfried H & Georgie F Pich
—
—
Manuel R Merino
—
Deed Of Trust
related
$225,000 · Bank Of America
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.
Try Rey
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