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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Warehouses
1964 Essex Ct, Redlands, CA 92373-8008
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US10-1217550
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,380 SF
Lot
0.63 ac (27,512 SF)
APN
0292-153-34-0000
UPID
US10-1217550
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
$1.40M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.94M
Owner & transaction history
Essex Property Partners LLC · 1 yrs held
Essex Property Partners LLC
since 2025
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+19.5%
Medical building
$3.0M
+13.5%
Neighborhood: shopping center
$2.8M
+5.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,510,000
6.5%
$1,395,000
7%
$1,295,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,645,000
Current use
AUTO REPAIR, GARAGE
$3,160,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$3,005,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,795,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$2,305,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.94M
Range $1.75M – $2.13M · ±10% · vs last sale $2.64M (Mar 2 2025)
Last sale anchor
$2.64M
Mar 2 2025
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
$187 / 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
$19,597
Tax year 2024
Assessed value
$1,655,485
Assessed 2024
Previous assessed
$1,655,485
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$382,035
Assessed improvement
$1,273,450
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Total area
10,380 SF
Lot
0.63 ac (27,512 SF)
APN
0292-153-34-0000
UPID
US10-1217550
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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Essex Property Partners LLC
Entity
Mailing address
PO BOX 1600, YUCAIPA, CA 92399-1436
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2025
$2,637,000
Essex Property Partners LLC
Albert Eshleman
Grant Deed
—
Dec 27, 2019
—
David R Eshleman
—
Deed
related
$865,000 · Citizens Business Bank
May 4, 2017
—
Eshleman,david Trust
Eshleman,david R
Quit Claim Deed
related
—
Jul 16, 2014
—
David R Eshleman
Eshleman,pamela L A
Quit Claim Deed
related
—
Jul 16, 2014
$2,462,000
David R Eshleman
Essex Redlands LLC
Grant Deed
$861,000 · Citizens Business Bank
Aug 28, 2012
—
Essex Redlands LLC
Alber Shirlea T Trust
Grant Deed
—
Aug 19, 2002
—
Alber,tr
Essex Redlands Industrial Ctr
Grant Deed
$1,832,000 · Pff Bank & Trust
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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