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Property profile & analytics
OFF-MARKET
Estimated value
$1,130,000
Warehouses
1611 Shop St 1 South Lake Tahoe, CA 96150-3680
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-3230954
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
10,368 SF
Lot
0.92 ac (40,075 SF)
Zoning code
GCI
APN
032-312-007-000
UPID
US09-3230954
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
-
Marcus Ashley Framing (Bike/Boat/Book/etc) Store Home Decor Store
-
Lake Tahoe Plumbing & Heating Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$761k
Blend (final)
Blend
$1.13M
Owner & transaction history
Shop 1611 LLC · 4 yrs held
Shop 1611 LLC
since 2022
7 recorded transactions
Zoning & alternative use
GCI · South Lake Tahoe, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+4.1%
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 South Lake Tahoe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Lake Tahoe 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
$1,790,000
Current use
OFFICE BUILDING
$1,865,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.02M – $1.24M · ±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
$109 / 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
$11,131
Tax year 2023
Assessed value
$1,011,902
Assessed 2023
Previous assessed
$1,011,902
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$227,175
Assessed improvement
$784,727
Applied tax rate
2.0000
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
2006
Heating
NONE
Stories
1
Units
4
Total area
10,368 SF
Lot
0.92 ac (40,075 SF)
Zoning code
GCI
APN
032-312-007-000
UPID
US09-3230954
Jurisdiction
EL DORADO
Zoning & alternative use
GCI · South Lake Tahoe, CA
Zoning GCI · permitted uses
GCI · South Lake Tahoe, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Lake Tahoe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE Current
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
2006
Heating
NONE
Stories
1
Units
4
Lot
0.92 ac
Current owner
From public records · entity-resolved
Shop 1611 LLC
Entity
Mailing address
PO BOX 8643, SOUTH LAKE TAHOE, CA 96158-1643
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
—
Shop 1611 LLC
Steve J Kosmides
Correction Deed
related
$500,000 · Us Bank NA
May 14, 2021
—
Shop 1611 LLC
Steve Kosimides
Grant Deed
—
Apr 30, 2021
—
Steve J Kosmides
—
Deed
related
$500,000 · Us Bank NA
Dec 26, 2018
—
Steve J Kosmides
—
Deed
related
$250,000 · Us Bk
Sep 12, 2018
—
Steve J Kosmides
—
Deed
related
$34,500 · Us Bank NA
Jan 23, 2007
—
Kosmides,steve J
Owner Name Unavailable
Grant Deed
related
—
May 31, 2006
—
Kosmides,steve J
Kosmides,steve
Quit Claim Deed
related
—
Dec 28, 2001
$160,000
Steve Kosmides
Beasley,herman & Irmgard
Grant Deed
—
—
—
Steve J Kosmides
—
Loan Modification
related
$250,000 · Us Bk
Mar 20, 1964
$30,000
Herman Beasley
—
Grant Deed
related
—
Aug 22, 1963
—
—
—
Grant Deed
related
—
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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