Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,070,000
Flex space
1939 Park Ave Redlands, CA 92373-8045
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-1217490
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,201 SF
Lot
1.09 ac (47,535 SF)
APN
0292-154-25-0000
UPID
US10-1217490
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
-
Diversified Distributors Inc Agricultural Supply Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.69M
Blend (final)
Blend
$6.07M
Owner & transaction history
1939 Park Avenue LLC · 4 yrs held
1939 Park Avenue LLC
since 2022
Last sale
$6.0M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.0M
+130.2%
Office building
$9.2M
+112.9%
Commercial (general)
$6.8M
+55.9%
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 Redlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redlands 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
$6,275,000
ML approach
$6,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,330,000
Current use
RESTAURANT
$9,965,000
Change: +130% · Conversion: Difficult
OFFICE BUILDING
$9,215,000
Change: +113% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,750,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,455,000
Change: +49% · Conversion: Easy
MEDICAL BUILDING
$6,135,000
Change: +42% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,705,000
Change: +32% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,405,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$6.07M
Range $5.46M – $6.68M · ±10% · vs last sale $5.96M (Mar 25 2022)
Last sale anchor
$5.96M
Mar 25 2022
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
$286 / 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
$73,030
Tax year 2024
Assessed value
$6,200,784
Assessed 2024
Previous assessed
$6,200,784
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,727,064
Assessed improvement
$4,473,720
Applied tax rate
5.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Total area
21,201 SF
Lot
1.09 ac (47,535 SF)
APN
0292-154-25-0000
UPID
US10-1217490
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
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
INDUSTRIAL (GENERAL) Current
Est. value
$4.3M
RESTAURANT
Est. value
$10.0M
OFFICE BUILDING
Est. value
$9.2M
COMMERCIAL (GENERAL)
Est. value
$6.8M
AUTO REPAIR, GARAGE
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$6.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.7M
WAREHOUSE, STORAGE
Est. value
$5.4M
INDUSTRIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
1939 Park Avenue LLC
Entity
Mailing address
2771 E CATTLE DR, GILBERT, AZ 85297-8116
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2022
$5,960,000
1939 Park Avenue LLC
Del Mar G2 Park Avenue
Grant Deed
—
Feb 3, 2021
$3,371,500
Del Mar G2 Park Avenue
Melvin J Hoeffiger
Grant Deed
—
May 29, 2019
$3,371,500
Melvin J Hoeffliger
Park Avenue Ventures LLC
Grant Deed
$300,000 · Steinmann John C 2016 Tr (rt)
Apr 8, 2011
$1,426,500
Park Avenue Ventures LLC
Shirlea Alber
Grant Deed
$870,000 · Security Bank Of California
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1939 Park Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
