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Property profile & analytics
FOR LEASE
Showrooms
21751 Lk Frst Dr Lk Lake Forest, CA 92630
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US09-1791048
For Lease
1 / 6
$42,400,000
21751 Lk Frst Dr Lk, Lake Forest, CA 92630
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1980
Total area
99,389 SF
Lot
9.63 ac (419,399 SF)
APN
614-291-45
UPID
US09-1791048
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
$25.81M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$42.40M
Owner & transaction history
Bcore Retail Heritage Hill LLC · 6 yrs held
Bcore Retail Heritage Hill LLC
since 2020
Last sale
$47.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$67.8M
+57.5%
Retail stores
$48.4M
+12.5%
Neighborhood: shopping center
$46.6M
+8.3%
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 Lake Forest submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest 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%
$27,955,000
6.5%
$25,805,000
7%
$23,960,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$43,045,000
Current use
RESTAURANT
$67,810,000
Change: +58% · Conversion: Difficult
RETAIL STORES
$48,430,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$46,620,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$44,335,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$42,640,000
Change: -1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$40,245,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$42.40M
Range $38.16M – $46.64M · ±10% · vs last sale $47.60M (Jan 16 2020)
Last sale anchor
$47.60M
Jan 16 2020
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
$427 / 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
$493,599
Tax year 2024
Assessed value
$46,967,813
Assessed 2024
Previous assessed
$46,967,813
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$37,493,834
Assessed improvement
$9,473,979
Applied tax rate
30.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1980
Heating
NONE
Units
4
Total area
99,389 SF
Lot
9.63 ac (419,399 SF)
APN
614-291-45
UPID
US09-1791048
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
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
COMMERCIAL (GENERAL) Current
Est. value
$43.0M
RESTAURANT
Est. value
$67.8M
RETAIL STORES
Est. value
$48.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$46.6M
AUTO REPAIR, GARAGE
Est. value
$44.3M
OFFICE BUILDING
Est. value
$42.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$40.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1980
Heating
NONE
Units
4
Lot
9.63 ac
Current owner
From public records · entity-resolved
Bcore Retail Heritage Hill LLC
Entity
Mailing address
PO BOX A3879, CHICAGO, IL 60690-3879
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2020
—
Bcore Retail Brookhurst Adam
—
Deed
related
$178,800,000 · Miscellaneous Ins Co
Jan 16, 2020
$47,600,000
Bcore Retail Heritage Hill LLC
Bp No 30 LLC
Grant Deed
—
Sep 29, 2016
—
Bp 30 LLC
—
Deed
related
$7,100,000 · Farmers & Merchants Bk/lng Bch
—
—
Properties Ptshp 3 Business
—
Deed Of Trust
related
$9,200,000 · Farmers & Merchants Bk Lng Bch
—
—
Bp No 30 LLC
—
Deed Of Trust
related
$9,200,000 · Wells Fargo Bank
—
—
Business Propert
—
Deed Of Trust
related
$9,700,000 · Prudential Insurance Of Americ
—
—
Bcore Retail Brookhurst Adam
—
Deed Of Trust
related
$178,800,000 · Miscellaneous Ins Co
—
—
Bp 30 LLC
—
Deed Of Trust
related
$7,100,000 · Farmers & Merchants Bk/lng Bch
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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