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Property profile & analytics
OFF-MARKET
Estimated value
$9,300,000
Retail space
1691 Melrose Dr 93 San Marcos, CA 92078-2127
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7056488
Property summary
AI-generated overview
This exceptional Class A retail space, located at 1691-1693 Melrose Drive in the desirable La Costa submarket of San Marcos, California, presents a unique opportunity for a discerning tenant. The property boasts a total of 2,000 square feet of vacant space, perfect for a single-tenant occupancy. Situated in a thriving commercial strip center, this location offers ample parking for customers and employees, ensuring convenient access and high visibility. The property's address is 1691-1693 Melrose Drive, San Marcos, CA 92078. Its convenient location within the San Marcos submarket and the La Costa cluster guarantees high foot traffic and excellent exposure to a diverse customer base. The building is classified as Class A, reflecting its superior construction, modern amenities, and prime location. This single-tenant space is immediately available, providing a seamless transition for your business. The property's size is ideal for a variety of retail uses, offering significant potential for growth and success. Don't miss this chance to establish your business in a highly sought-after location. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
18,492 SF
Lot
1.91 ac (83,199 SF)
Zoning code
COMMERCIAL
APN
223-030-96-00
UPID
US09-7056488
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
-
San Elijo Dental Dental Office
-
Manhattan Giant Pizza Restaurant
-
San Elijo Martial Arts Training Center Sports School
-
Mariah's Westwind Restaurant Restaurant
-
Windmill Cleaners III (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.33M
Blend (final)
Blend
$9.30M
Owner & transaction history
Purple Mountain Empire I LLC · 1 yrs held
Purple Mountain Empire I LLC
since 2024
Last sale
$9.3M
3 recorded transactions
Zoning & alternative use
COMMERCIAL · San Marcos, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.1M
+115.9%
Medical building
$8.8M
+56.3%
Office building
$8.1M
+44.9%
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 San Marcos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Marcos 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
$9,300,000
ML approach
$9,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,615,000
Current use
RESTAURANT
$12,125,000
Change: +116% · Conversion: Easy
MEDICAL BUILDING
$8,775,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$8,135,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,060,000
Change: +26% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,820,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$9.30M
Range $8.37M – $10.23M · ±10% · vs last sale $9.30M (Oct 14 2024)
Last sale anchor
$9.30M
Oct 14 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
$503 / 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
$123,150
Tax year 2024
Assessed value
$10,993,389
Assessed 2024
Previous assessed
$10,993,389
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$3,888,335
Assessed improvement
$7,105,054
Applied tax rate
13.0000
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
2008
Heating
NONE
Units
1
Total area
18,492 SF
Lot
1.91 ac (83,199 SF)
Zoning code
COMMERCIAL
APN
223-030-96-00
UPID
US09-7056488
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · San Marcos, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · San Marcos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Marcos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.6M
RESTAURANT
Est. value
$12.1M
MEDICAL BUILDING
Est. value
$8.8M
OFFICE BUILDING
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.8M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2008
Heating
NONE
Units
1
Lot
1.91 ac
Current owner
From public records · entity-resolved
Purple Mountain Empire I LLC
Entity
Mailing address
2399 CAMINO DEL RIO S SAN DIEGO, DIEGO
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2024
—
Purple Mountain Empire I LLC
Cellco Parntership
Quit Claim Deed
related
$2,578,000 · Zb NA
Oct 6, 2014
$9,300,000
Purple Mountain Empire I LLC
Lulu Land Company LLC
Grant Deed
$3,500,000 · Wells Fargo Bank NA
—
—
Lulu Land Co LLC
—
Deed Of Trust
related
$5,402,000 · California Community 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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