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Property profile & analytics
OFF-MARKET
Estimated value
$3,380,000
Investment properties
2280 Lillie Ave Summerland, CA 93067-8040
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2616298
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Total area
6,600 SF
Lot
0.22 ac (9,583 SF)
APN
005-175-004
UPID
US09-2616298
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
-
Godmothers (Bike/Boat/Book/etc) Store
-
Pandion Enterprises Inc Film Production Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$3.38M
Owner & transaction history
Jeremy Grimaldi · 2 yrs held
Jeremy Grimaldi
since 2023
Last sale
$3.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.8M
+33.3%
Retail stores
$3.1M
+8.2%
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 Summerland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Summerland 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
$4,050,000
ML approach
$3,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,850,000
Current use
OFFICE BUILDING
$3,795,000
Change: +33% · Conversion: Easy
RETAIL STORES
$3,080,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$3.38M
Range $3.04M – $3.72M · ±10% · vs last sale $3.25M (Aug 23 2023)
Last sale anchor
$3.25M
Aug 23 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
$512 / 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
$37,833
Tax year 2024
Assessed value
$3,250,000
Assessed 2024
Previous assessed
$3,250,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$2,250,000
Assessed improvement
$1,000,000
Applied tax rate
59.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Heating
NONE
Total area
6,600 SF
Lot
0.22 ac (9,583 SF)
APN
005-175-004
UPID
US09-2616298
Jurisdiction
SANTA BARBARA
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
$2.9M
OFFICE BUILDING
Est. value
$3.8M
RETAIL STORES
Est. value
$3.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
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
Heating
NONE
Lot
0.22 ac
Current owner
From public records · entity-resolved
Jeremy Grimaldi
Individual
Free & Clear · 2 yrs held
Mailing address
1018 PAMELA DR, BEVERLY HILLS, CA 90210-2823
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2025
—
Jeremy Grimaldi
—
Deed
related
$3,000,000 · Jpmorgan Chase Bank NA
Aug 23, 2023
$3,250,000
Jeremy Grimaldi
John Franklin Arno
Grant Deed
—
Jul 8, 2010
$250,000
John Arno
Arno Mary L Living Trust
Quit Claim Deed
related
—
Feb 23, 2001
—
Arno Trust
Arno,mary L
Quit Claim Deed
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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