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Property profile & analytics
OFF-MARKET
Estimated value
$16,420,000
Community centers
1901 Calle Barcelona 35 Carlsbad, CA 92009-8402
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-9984031
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2003
Total area
9,999 SF
Lot
18.19 ac (792,356 SF)
Zoning code
COMMERCIAL
APN
255-012-04-00
UPID
US09-9984031
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
-
Casa De Bandini at The Forum Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.03M
Blend (final)
Blend
$16.42M
Owner & transaction history
Trea Nw Forum At Carlsbad Owner LLC · 4 yrs held
Trea Nw Forum At Carlsbad Owner LLC
since 2021
Last sale
$18.5M
3 recorded transactions
Zoning & alternative use
COMMERCIAL · Carlsbad, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.4M
+82.4%
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 Carlsbad submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carlsbad 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
$19,295,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,430,000
Change: +82% · Conversion: Easy
Blend value · Realmo final
$16.42M
Range $14.78M – $18.06M · ±10% · vs last sale $18.50M (Aug 30 2021)
Last sale anchor
$18.50M
Aug 30 2021
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
$1,642 / 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
$2,043,679
Tax year 2024
Assessed value
$192,474,000
Assessed 2024
Previous assessed
$192,474,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$46,818,000
Assessed improvement
$145,656,000
Applied tax rate
9.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2003
Heating
NONE
Units
1
Total area
9,999 SF
Lot
18.19 ac (792,356 SF)
Zoning code
COMMERCIAL
APN
255-012-04-00
UPID
US09-9984031
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Carlsbad, CAZoning COMMERCIAL · permitted uses
COMMERCIAL · Carlsbad, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$16.4M
COMMERCIAL (GENERAL)
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
2003
Heating
NONE
Units
1
Lot
18.19 ac
Current owner
From public records · entity-resolved
Trea Nw Forum At Carlsbad Owner LLC
Entity
Mailing address
695 PO BOX 200158TH DR #17, DALLAS, TX 75320-0158
Ownership since
2021
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 30, 2021
$18,500,000
Trea Nw Forum At Carlsbad Owner LLC
T C Forum At Carlsbad LLC
Grant Deed
$122,400,000 · Parlex 5 Finco LLC
Mar 1, 2012
—
T-c Forum At Carlsbad LLC
—
Deed Of Trust
related
$90,000,000 · Massachusetts Mutual Life Ins
Sep 9, 2011
$179,700,000
T-c Forum At Carlsbad LLC
La Forum Carlsbad LLC
Grant Deed
—
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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