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2151 Las Palmas Dr, Carlsbad, CA 92011
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Property summary
AI-generated overview
This exceptional multi-tenant flex building, located at 2151 Las Palmas Drive in San Diego County, offers a fantastic leasing opportunity. The property totals 31,387 square feet and currently has 5,575 square feet of immediately available space. Built in 1981, this well-maintained building boasts a desirable 18-foot warehouse clear height, ideal for various industrial and flex uses. The property features one drive-in door for convenient loading and unloading. Ample parking is provided with a 2.1 parking spaces per 1,000 square feet ratio, ensuring sufficient space for employees and clients. The property is classified as Office, Industrial and is suitable for multiple tenants. This is a rare opportunity to secure high-quality flex space in a prime San Diego location. The available space presents a unique chance to establish or expand your business in a well-equipped and strategically located building. Don't miss out on this exceptional opportunity. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1983
Total area
31,822 SF
Lot
2.06 ac (89,733 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
213-050-32-00
UPID
US09-9737488
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
General Contractor
-
Consultant
-
Gym & Fitness Center
-
Advertising Agency Marketing & Advertising
-
General Contractor Renovation Specialist
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.17M
CAP Approach
CAP
$6.07M
Comparable Approach
Comparable
$8.72M
Blend (final)
Blend
$8.58M
Owner & transaction history
since 2021
Last sale
$8.4M
6 recorded transactions
Zoning & alternative use
INDUSTRIAL (M ZONE) · Carlsbad, CA
Top alternative use upside
Office building
$13.6M
+97.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$8.58M
Value range
$7.72M – $9.44M
±10% around blend
Estimated value / SF
$270 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$7.72M
blend $8.58M
$9.44M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
31,822 SF
Lot area
2.06 ac
Year built
1983
APN
213-050-32-00
Zoning
INDUSTRIAL (M ZONE)
Assessed value
$8,739,360
Annual tax
$93,672
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.07M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.58M
@ 6.5% CAP return
$6.07M
@ 7% CAP return
$5.64M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$93,672
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$6.75M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.0 mi away · 30,924 SF
9.1 mi away · 25,295 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.58M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 23 sales
$217
+24%
Submarket 80 sales
$249
+8%
County 993 sales
$273
-1%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $270/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+98%
vs current-use indication
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
4.60%
Selected cap rate for this manufacturing properties
Derived from the Carlsbad market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.60%
9.0%
NOI (est.)
$69k *
Last sale · Nov 2021
$8.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.50M
Move the market yield to see immediate price impact.
Value / SF
$47
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.10%4.60%5.10%
$62k
$1.52M
$1.35M
$1.22M
$69k
$1.69M
$1.50M
$1.36M
$76k
$1.86M
$1.65M
$1.49M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$8.92M
2.8 mi · Sep 2025 · $261/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$93,672
Tax year 2024
Assessed value
$8,739,360
Assessed 2024
Previous assessed
$8,739,360
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$3,121,200
Assessed improvement
$5,618,160
Applied tax rate
9.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1983
Heating
NONE
Units
1
Total area
31,822 SF
Lot
2.06 ac (89,733 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
213-050-32-00
UPID
US09-9737488
Jurisdiction
SAN DIEGO
Zoning & alternative use
INDUSTRIAL (M ZONE) · Carlsbad, CAZoning INDUSTRIAL (M ZONE) · permitted uses
INDUSTRIAL (M ZONE) · Carlsbad, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Heating
NONE
Units
1
Lot
2.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
INDUSTRIAL (M ZONE)
Jurisdiction
Carlsbad, CA
Recorded code
INDUSTRIAL (M ZONE)
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for INDUSTRIAL (M ZONE) in Carlsbad, CA.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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