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Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Retail space
2135 Montiel Rd San Marcos, CA 92069-3511
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-9705599
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Total area
9,190 SF
Lot
0.83 ac (36,154 SF)
Zoning code
COMMERCIAL
APN
228-360-42-00
UPID
US09-9705599
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
-
DaVita San Marcos Dialysis Center Medical Clinic
-
JOSHUA GREENSTEIN Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$2.10M
Owner & transaction history
2135 Montiel LLC
2135 Montiel LLC
since 2025
7 recorded transactions
Zoning & alternative use
COMMERCIAL · San Marcos, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.9M
+3.7%
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 San Marcos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Marcos 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%
$2,405,000
6.5%
$2,220,000
7%
$2,060,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,790,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,895,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,605,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±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
$229 / 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
$37,415
Tax year 2024
Assessed value
$3,377,279
Assessed 2024
Previous assessed
$3,377,279
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,504,199
Assessed improvement
$1,873,080
Applied tax rate
13.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2000
Heating
NONE
Units
1
Total area
9,190 SF
Lot
0.83 ac (36,154 SF)
Zoning code
COMMERCIAL
APN
228-360-42-00
UPID
US09-9705599
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · San Marcos, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · San Marcos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Marcos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.6M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
2000
Heating
NONE
Units
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
2135 Montiel LLC
Entity
Mailing address
7517 GDN TER, SAN DIEGO, CA 92127-3611
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2025
—
2135 Montiel LLC
Cutler Lindsay
Quitclaim Deed
related
—
Sep 4, 2025
—
2135 Montiel LLC
Zatkin Family Trust
Quitclaim Deed
related
—
Aug 26, 2019
—
Cutler Lindsay
Mudge W E Separate Pro Trust
Quit Claim Deed
related
—
Jun 15, 2017
$367,000
Zatkin Family Trust
Gross John R & P J C Trust
Grant Deed
—
Jun 15, 2017
$471,500
Mudge,wesley E Trust
Gross John R & P J C Trust
Grant Deed
—
May 17, 2017
—
Gross,john R Trust
2135 Montiel LLC
Quit Claim Deed
related
—
Jun 15, 2016
—
2135 Montiel LLC
Scb Realty Holdings II LLC
Quit Claim Deed
related
—
Dec 8, 2008
—
2135 Montiel LLC
Zatkin Family Trust
Quit Claim Deed
related
—
Oct 28, 2005
—
2135 Montiel LLC
Gross John R Trust
Quit Claim Deed
related
—
Aug 10, 2005
—
Zatkin Family Trust
Swann,ray R & Nancy J
Grant Deed
—
Nov 22, 1989
$814,700
Ray R Swann
Unknown
Grant Deed
—
—
—
Ray R Swann
—
Deed Of Trust
related
$431,900 · Fallbrook National Bank
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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