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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Commercial kitchens
21006 Norwalk Blvd Lakewood, CA 90715-1503
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6586768
Property profile
Verified
Property type
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Year built
1973
Construction
TILT-UP CONCRETE
Total area
1,344 SF
Lot
0.24 ac (10,339 SF)
Zoning code
LKC3*
APN
7066-029-038
UPID
US09-6586768
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
-
Big Flames Burgers Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$755k
Owner & transaction history
Ho Chon Chol · 2 yrs held
Ho Chon Chol
since 2023
Last sale
$770,000
7 recorded transactions
Zoning & alternative use
LKC3* · Lakewood, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$730,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$875,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$820,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $770k (Sep 22 2023)
Last sale anchor
$770k
Sep 22 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
$562 / 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
$14,552
Tax year 2024
Assessed value
$1,031,622
Assessed 2024
Previous assessed
$1,031,622
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$669,888
Assessed improvement
$361,734
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Status
Off-Market
Year built
1973
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
OTHER
Stories
1
Total area
1,344 SF
Lot
0.24 ac (10,339 SF)
Zoning code
LKC3*
APN
7066-029-038
UPID
US09-6586768
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LKC3* · Lakewood, CAZoning LKC3* · permitted uses
LKC3* · Lakewood, CA
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
RESTAURANT Current
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$820,000
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
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
1973
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Ho Chon Chol
Individual
Mailing address
6741 LINCOLN AVE, BUENA PARK, CA 90620-4167
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2023
—
Ho Chon Chol
Ho Chon Chol
Intrafamily Transfer
related
—
Feb 20, 2018
—
Chon,chol H & Han S Trust 2013
—
Deed
related
—
Apr 2, 2013
—
Chon C H & H S 2013 Family Trust
Chon,han S
Quit Claim Deed
related
—
Nov 30, 2005
$770,000
Han S Chon
Meletis,avgoustinos & Nikki
Grant Deed
$500,000 · Wilshire State Bank
Nov 30, 2005
—
Han S Chon
Chon,chol H
Quit Claim Deed
related
—
Feb 13, 1996
$320,000
Avgoustinos Meletis
Varvas,fotiny N
Grant Deed
$250,000 · Individual
Dec 3, 1991
$195,000
Nikos N Varvas
Unknown
Grant Deed
—
Aug 29, 1991
$195,000
Varvas Kikos N
Morris,lester A
Grant Deed
related
$235,000 · First Charter Bank
May 30, 1989
—
Hoang Ly V
Do
Grant Deed
related
—
—
—
Nikos N Varvas
—
Deed Of Trust
related
$390,000 · First Charter Bank
—
—
Han S Chon
—
Deed Of Trust
related
$455,000 · Wilshire State Bank
—
—
Han S Chon
—
Deed Of Trust
related
$299,900 · Avgoustinos & Nikki Meletis
—
—
Avgoustinos Meletic
—
Deed Of Trust
related
$55,000 · Cedars Bank
—
—
Chon,chol H & Han S Trust 2013
—
Loan Modification
related
—
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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