Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2218 Thornburg St Santa Maria, CA 93455-1248

    • Warehouses
    • 0.73 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1910347
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Testa Catering & Event Rentals / Take-out & Catering / Catering Service
    • Testa Catering & Event Rental’s (Formerly The Party Place) / Party Supply Store / Rental Equipment Company

    Property Details for 2218 Thornburg St

    Lot size
    0.73 lot acres
    Property type
    Warehouses
    APN
    111-060-048
    APU
    111060048

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Maria
    County
    Santa Barbara
    State
    California
    Longitude
    -120.44
    Latitude
    34.9196
    CBSA code
    42200
    CBSA name
    SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,545
    $294,566
    $765,882
    $1,060,448
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.11 Acres

      1264 Betteravia Rd

      WAREHOUSE, STORAGE • 1.11 Acres
      1264 Betteravia Rd, Santa Maria, CA 93455-1076
      View Details
    • Value Estimation by Request
      9.82 Acres

      1860 Betteravia Rd

      WAREHOUSE, STORAGE • 9.82 Acres
      1860 Betteravia Rd, Santa Maria, CA 93455-1065
      View Details
    • Value Estimation
      $570,000
      4.28 Acres

      545 Betteravia Rd

      WAREHOUSE, STORAGE • 4.28 Acres
      545 Betteravia Rd, Santa Maria, CA 93455-1229
      View Details
    • Value Estimation by Request
      4.82 Acres

      2261 Evora Way

      WAREHOUSE, STORAGE • 4.82 Acres
      2261 Evora Way, Santa Maria, CA 93455
      View Details
    • Value Estimation by Request
      1.60 Acres

      2345 Thompson Way

      WAREHOUSE, STORAGE • 1.60 Acres
      2345 Thompson Way, Santa Maria, CA 93455-1050
      View Details
    • Value Estimation
      $9,055,000
      428,350 SF

      2820 Betteravia Rd

      WAREHOUSE, STORAGE • 428,350 SF
      2820 Betteravia Rd, Santa Maria, CA 93455-5923
      View Details

    Similar Nearby for Sale

    • $1,795,000

      Santa Maria Industrial Property

      Industrial property available for sale in Santa Maria, California.
      2325 A St, Santa Maria, CA 93455
      View Details
    • $1,700,000
      173,804.40 Acres

      Orcutt Land with Fee Waivers

      Development opportunity with significant fee waivers in Orcutt, California.
      Northpoint Cir, Santa Maria, CA 93455
      View Details
    • $2,700,000

      Renovated Congregate Living Health Facility

      18-bed congregate living health facility on an acre lot.
      1430 Solomon Rd, Santa Maria, CA 93455
      View Details
    • New
      $379,950
      0.19 Acres

      Residential Lot in Santa Maria

      Residential lot for building a single-family home.
      1015 Sunrise Dr, Santa Maria, CA 93455
      View Details
    • $2,650,000

      Orcutt Multifamily Development Opportunity

      9.8-acre property approved for 90-112 multifamily units.
      5301 S Bradley Rd, Santa Maria, CA 93455
      View Details
    • $330,000
      13,068.00 Acres

      Santa Maria Valley Vacant Land

      One-third acre vacant land in a desirable Santa Maria neighborhood.
      827 Firefox Dr, Santa Maria, CA 93455
      View Details

    Similar Nearby for Lease

    • $13,721,125
      49,895 SF

      High-Bay Distribution Building Near Airport

      Class A distribution building with high ceilings, ready for occupancy.
      1401 W Fairway Dr, Santa Maria, CA 93455
      View Details
    • $2 SF/Yr
      5,812 SF

      Santa Maria Office Space Available

      Office spaces available from 1,000 to 5,812 square feet.
      3250 Skyway Dr, Santa Maria, CA 93455
      View Details
    • $4 SF/Yr
      1,200 SF

      Retail Space in Santa Maria

      Retail space with high visibility in a high-density area.
      467-471 Betteravia Rd, Santa Maria, CA 93455
      View Details
    • $2 SF/Yr

      Office Space in Old Orcutt

      Commercial office space with parking, suitable for medical or office.
      235 E Clark Ave, Santa Maria, CA 93455
      View Details
    • $33 SF/Yr
      2,800 SF

      Santa Maria Office Pad - Skyway Center

      New 2,800 SF Class A Office Space
      3580 Skyway Dr, Santa Maria, CA 93455
      View Details
    • Contact for pricing

      Retail Space in New Development

      Shell condition retail space in Santa Maria's Elements development.
      3519 Mercury Dr, Santa Maria, CA 93455
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2218 Thornburg St
    Santa Maria, CA 93455-1248
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.