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Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Manufacturing properties
1936 Kellogg Ave Carlsbad, CA 92008-6581
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-9788640
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1998
Total area
5,929 SF
Lot
0.32 ac (14,100 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
212-170-06-00
UPID
US09-9788640
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
-
GL Dental Lab Dental Office
-
Evertek Computer Corporation Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$2.11M
Owner & transaction history
Toynami INC · 3 yrs held
Toynami INC
since 2023
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
INDUSTRIAL (M ZONE) · Carlsbad, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.5M
+108.7%
Apartment house (5+ units)
$3.3M
+100.8%
Medical building
$2.8M
+69.8%
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
$2,090,000
ML approach
$2,110,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,655,000
Current use
RETAIL STORES
$3,460,000
Change: +109% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,325,000
Change: +101% · Conversion: Difficult
MEDICAL BUILDING
$2,815,000
Change: +70% · Conversion: Difficult
OFFICE BUILDING
$2,540,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±10% · vs last sale $2.12M (Jan 26 2023)
Last sale anchor
$2.12M
Jan 26 2023
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
$355 / 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
$23,005
Tax year 2024
Assessed value
$2,157,300
Assessed 2024
Previous assessed
$2,157,300
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,020,000
Assessed improvement
$1,137,300
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1998
Heating
NONE
Units
1
Total area
5,929 SF
Lot
0.32 ac (14,100 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
212-170-06-00
UPID
US09-9788640
Jurisdiction
SAN DIEGO
Zoning & alternative use
INDUSTRIAL (M ZONE) · Carlsbad, CA
Zoning INDUSTRIAL (M ZONE) · permitted uses
INDUSTRIAL (M ZONE) · Carlsbad, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carlsbad. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
RETAIL STORES
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1998
Heating
NONE
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Toynami INC
Entity
Mailing address
1936 KELLOGG AVE, CARLSBAD, CA 92008-6581
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2023
—
Toynami INC
Sohn Holdings Group LLC
Lease
$892,000 · Ampac Tri State Cdc INC
Jan 26, 2023
$2,115,000
Sohn Holdings Group LLC
Neilson Holdings LLC
Grant Deed
$1,085,000 · Indigo Commercial Funding I LLC
May 8, 2012
$742,000
Neilson Holdings LLC
Trinity Pacific Investments LLC
Grant Deed
$371,000 · Jpmorgan Chase Bank NA
Feb 21, 2012
$675,000
Trinity Pacific Investments Ll
Fidelity National Title Co
Trustees Deed
related
—
Mar 8, 2006
—
Richard T Wheeler
Wheeler,richard T
Quit Claim Deed
related
$1,106,000 · Discovery Bank
Aug 20, 2004
—
Richard T Wheeler
Wheeler,sherry A
Quit Claim Deed
related
$805,000 · Discovery Bank
Oct 7, 1997
$382,500
Richard Wheeler
Homes For Induastry
Grant Deed
$481,532 · Scripps Bank
Oct 1, 1997
$543,500
Sonya Ormez
Home For Industry
Grant Deed
$468,280 · Temecula Valley National Bank
Jan 22, 1993
$5,900,000
Sumitomo Bank Cal
Carlsbad Airport
Trustees Deed
related
—
—
—
Richard Wheeler
—
Deed Of Trust
related
$285,518 · Scripps Bank
—
—
Richard T Wheeler
—
Deed Of Trust
related
$600,000 · Discovery Bank
—
—
Richard Wheeler
—
Deed Of Trust
related
$150,000 · Discovery Valley Bank
—
—
Richard Wheeler
—
Deed Of Trust
related
$275,990 · Discovery Valley Bank
—
—
Richard Wheeler
—
Deed Of Trust
related
$625,000 · Discover Bank
—
—
Richard Wheeler
—
Deed Of Trust
related
$221,000 · Cdc Small Business Finance Co
—
—
Stephen J Anderson
—
Deed Of Trust
related
$306,000 · La Habra Local Development Co
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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