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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Warehouses
229 Olive Ave Rialto, CA 92376-6507
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-1738223
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,764 SF
Lot
0.21 ac (9,180 SF)
APN
0130-301-29-0000
UPID
US10-1738223
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
-
Race Central Accounting Firm Tax Preparation
-
HJQ87, INC Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$795k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$995k
Owner & transaction history
Hakop Mirzakhanyan · 5 yrs held
Hakop Mirzakhanyan
since 2020
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+35.0%
Auto repair, garage
$1.5M
+19.5%
Medical building
$1.4M
+13.5%
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 Rialto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rialto 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
$840,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$735,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,215,000
Current use
COMMERCIAL (GENERAL)
$1,640,000
Change: +35% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,450,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$1,380,000
Change: +14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,280,000
Change: +6% · Conversion: Moderate
RETAIL STORES
$1,060,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±10% · vs last sale $1.21M (Dec 11 2025)
Last sale anchor
$1.21M
Dec 11 2025
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
$209 / 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
$7,684
Tax year 2024
Assessed value
$631,419
Assessed 2024
Previous assessed
$631,419
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$127,345
Assessed improvement
$504,074
Applied tax rate
6.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Units
1
Total area
4,764 SF
Lot
0.21 ac (9,180 SF)
APN
0130-301-29-0000
UPID
US10-1738223
Jurisdiction
SAN BERNARDINO
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
WAREHOUSE, STORAGE Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Hakop Mirzakhanyan
Individual
Free & Clear · 5 yrs held
Mailing address
1502 THOMPSON AVE, GLENDALE, CA 91201-1230
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2020
—
Hakop Mirzakhanyan
Armine Margaryan
Quit Claim Deed
related
—
Nov 23, 2020
$595,000
Hakop Mirzakhanyan
Judy P Ikenberry
Grant Deed
—
Jun 11, 2020
—
Owner Name Unavailable
Dennis L Ikenberry
Affidavit Of Death
related
—
Dec 1, 2008
—
Ikenberry D L & J Living Trust
Ikenberry,dennis & Judy P
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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