1905 Aviation Blvd Lincoln, CA 95648-9557
Entity Owned
~
Est. High Equity
Estimated value (blended)
$2.45M
Range $2.20M – $2.69M (±10%)
Property ID
US09-9165432
Property summary
AI-generated overview
This exceptional investment opportunity presents a 23,650-square-foot Class B warehouse in Lincoln, California, currently operating at 100% occupancy under a Net Lease agreement. Located at 1905 Aviation Blvd, this single-tenant property boasts a strong 6.65% cap rate and a substantial net operating income (NOI) of $372,000, with an asking price of $5,590,000 ($236.36/sq ft). Built in 1985, the one-story building features four loading docks and sits on a 1.5-acre lot with an adjacent 1.5-acre parcel. The current tenant is interested in a long-term leaseback, providing future owners with financial stability. Planned improvements include roof replacement, additional grade-level doors, and site enhancements to the adjacent parcel (grading, fencing, and gravel). Further enhancing the investment potential, the property includes a revenue-generating cell tower. The property's prime location across from the Lincoln Airport and its potential for future expansion make this a compelling acquisition. APN: 021-562-005, 021-562-007. Rent bumps are included in the lease.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1985
Construction
TILT-UP CONCRETE
Total area
23,617 SF
Lot
1.5 ac (65,340 SF)
Zoning code
LI
APN
021-562-005-000
UPID
US09-9165432
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.03M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$2.45M
Owner & transaction history
since 2025
Last sale
$5.5M
7 recorded transactions
Zoning & alternative use
LI · Lincoln, CA
Top alternative use upside
Commercial (general)
$6.7M
+159.9%
Auto repair, garage
$6.3M
+147.7%
Medical building
$5.4M
+112.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.45M
Value range
$2.20M – $2.69M
±10% around blend
Estimated value / SF
$104 / SF
Confidence
Low
3 county-verified comps
Property data
75
Market benchmarks
33
Comparable evidence
30
$2.20M
blend $2.45M
$2.69M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
23,617 SF
Lot area
1.5 ac
Year built
1985
APN
021-562-005-000
Assessed value
$2,684,232
Annual tax
$28,434
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.03M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$5.45M
@ 6.5% CAP return
$5.03M
@ 7% CAP return
$4.67M
4
Sales comparison
Partial preview
Sales approach indication
$3.36M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
22.3 mi away · 17,748 SF
22.9 mi away · 18,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.45M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 52 sales
$109
-5%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $104/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+160%
vs current-use indication
Auto Repair, Garage
Medical Building
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$5.50M
Move the market yield to see immediate price impact.
Value / SF
$233
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$347k
$6.93M
$4.95M
$3.85M
$385k
$7.70M
$5.50M
$4.28M
$424k
$8.47M
$6.05M
$4.71M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$2.15M
16.8 mi · Feb 2026 · $122/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$28,434
Tax year 2024
Assessed value
$2,684,232
Assessed 2024
Previous assessed
$2,684,232
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$603,432
Assessed improvement
$2,080,800
Applied tax rate
3.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Total area
23,617 SF
Lot
1.5 ac (65,340 SF)
Zoning code
LI
APN
021-562-005-000
UPID
US09-9165432
Jurisdiction
PLACER
Zoning & alternative use
LI · Lincoln, CAZoning LI · permitted uses
LI · Lincoln, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Lot
1.5 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
LI
Jurisdiction
Lincoln, CA
Recorded code
LI
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LI in Lincoln, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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