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    Property profile & analytics

    1609 Greenville St Santa Ana, CA 92704-4001

    • Retail space
    • 1,672 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Aug 21, 2024
    $920,000
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    2.9%
    Retail space
    Location Intelligence
    Property ID
    US09-3334091
    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

    • Sanchez Market / Grocery & Convenience Store / Food Market

    Property Details for 1609 Greenville St

    Year built
    1941
    Lot size
    0.13 lot acres
    Property size
    1,672 SF
    Property type
    Retail space
    APN
    408-245-12
    APU
    40824512

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $920,000
      ML approach
      $920,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $640,000
      Current use
      OFFICE BUILDING
      $925,000
      Change: +44% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $785,000
      Change: +22% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $595,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.9
    Latitude
    33.7257
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, 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
    $1,335
    $17,218
    $34,513
    $51,731
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,630,000
      8,400 SF

      3357 Bristol St

      RETAIL STORES (PERSONAL SERVICES) • 8,400 SF
      3357 Bristol St, Santa Ana, CA 92704-7245
      View Details
    • Value Estimation
      $4,185,000
      33,950 SF

      3301 Hbr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 33,950 SF
      3301 Hbr Blvd, Santa Ana, CA 92704-6857
      View Details
    • Value Estimation
      $660,000
      3,850 SF

      2406 Edinger Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,850 SF
      2406 Edinger Ave, Santa Ana, CA 92704-3544
      View Details
    • Value Estimation
      $3,015,000
      8,000 SF

      2911 Bristol St

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      2911 Bristol St, Santa Ana, CA 92704-6205
      View Details
    • Value Estimation
      $3,780,000
      5,775 SF

      3730 Greenville St

      RETAIL STORES (PERSONAL SERVICES) • 5,775 SF
      3730 Greenville St, Santa Ana, CA 92704-7092
      View Details
    • Value Estimation
      $1,105,000
      1,042 SF

      417 Hbr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,042 SF
      417 Hbr Blvd, Santa Ana, CA 92704-1323
      View Details

    Similar Nearby for Sale

    • $1,375,000
      2,400 SF

      Freestanding Commercial Property For Sale

      Commercial property on W Edinger Ave with excellent accessibility and visibility.
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    • $6,990,000
      20,379 SF

      Santa Ana Retail Investment Opportunity

      High-Demand Retail Space, $6.99M
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    • $1,900,000
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      Four-unit multifamily property with new ADU in Santa Ana.
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    • $235,000

      Move-in Ready Mobile Home

      4-bedroom, 2-bath mobile home in family-friendly park.
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      12,545 SF

      Free Standing Warehouse in Santa Ana

      12,545 SF building on 24,570 SF lot for sale.
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    • $1,900,000
      5,854 SF

      Santa Ana Multifamily Investment Opportunity

      Two-story, 8-unit building near downtown Santa Ana.
      910 S Townsend St, Santa Ana, CA 92704
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    Similar Nearby for Lease

    • Contact for pricing
      165,689 SF

      Santa Ana Retail Center For Lease

      Prime Retail Space, Multiple Units Available
      3925 Bristol St, Santa Ana, CA 92704
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space For Rent

      In-line retail space available for rent.
      3370-3390 S Bristol St, Santa Ana, CA 92704
      View Details
    • $24 SF/Yr
      20,379 SF

      Harbor Blvd Retail Opportunity

      Large Freestanding Retail Building, 20,379 SF
      1107 Harbor Blvd, Santa Ana, CA 92704
      View Details
    • Contact for pricing
      11,098 SF

      Gateway Plaza: Santa Ana Retail Spaces

      Prime Santa Ana retail spaces available.
      1421-1501 Macarthur Blvd, Santa Ana, CA 92704
      View Details
    • $3 SF/Yr
      945 SF

      Restaurant Space in Prime Location

      Second generation, fully built-out restaurant space for rent.
      2600 W Edinger Ave, Santa Ana, CA 92704
      View Details
    • Contact for pricing
      120,676 SF

      Santa Ana Retail Space Available

      Prime Orange County Retail Center, 1,350 SF
      2138 Bristol St, Santa Ana, CA 92704
      View Details
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    Santa Ana, CA 92704-4001
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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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