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Property profile & analytics
OFF-MARKET
Estimated value
$3,095,000
Manufacturing properties
1950 Lexington St Delano, CA 93215
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US09-3609173
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2011
Construction
WOOD
Total area
27,853 SF
Lot
7 ac (304,920 SF)
Zoning code
SP
APN
521-040-30-00-7
UPID
US09-3609173
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.67M
Blend (final)
Blend
$3.10M
Owner & transaction history
Houchin Group LLC · 14 yrs held
Houchin Group LLC
since 2012
4 recorded transactions
Zoning & alternative use
SP · Delano, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.2M
+17.4%
Auto repair, garage
$3.9M
+9.3%
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 Delano submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delano 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,535,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,150,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,865,000
Change: +9% · Conversion: Easy
RETAIL STORES
$3,525,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$3.10M
Range $2.79M – $3.40M · ±10%
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
$111 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$22,934
Tax year 2023
Assessed value
$2,069,763
Assessed 2023
Previous assessed
$2,069,763
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$404,436
Assessed improvement
$1,665,327
Applied tax rate
2.0000
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
2011
Construction
WOOD
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Units
2
Total area
27,853 SF
Lot
7 ac (304,920 SF)
Zoning code
SP
APN
521-040-30-00-7
UPID
US09-3609173
Jurisdiction
KERN
Zoning & alternative use
SP · Delano, CA
Zoning SP · permitted uses
SP · Delano, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delano. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$3.9M
RETAIL STORES
Est. value
$3.5M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
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
2011
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
2
Lot
7 ac
Current owner
From public records · entity-resolved
Houchin Group LLC
Entity
Mailing address
PO BOX 98, BUTTONWILLOW, CA 93206-0098
Ownership since
2012
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
Jun 22, 2012
—
Houchin Group LLC
Mesa Top LLC
Grant Deed
$1,200,000 · Bank Of America
Sep 17, 2004
$353,000
Mesa Top LLC
Lublin,jeffrey C
Grant Deed
$288,000 · Jeffrey C Lublin
Aug 8, 2002
—
Community Redev Agency Delano
Delano City (ca)
Quit Claim Deed
related
—
Aug 8, 2002
$229,000
Jeffrey C Lublin
Community Redev Agency Delano
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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