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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Office Spaces
22974 El Toro Rd C4 Lake Forest, CA 92630-4961
Entity Owned
1-yr Hold
Property ID
US09-2226560
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1981
Total area
2,544 SF
Lot
0.19 ac (8,352 SF)
APN
937-340-08
UPID
US09-2226560
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
$850k
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$792k
Blend (final)
Blend
$845k
Owner & transaction history
Kiani Real Estate LLC · 1 yrs held
Kiani Real Estate LLC
since 2025
Last sale
$900,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+13.6%
Neighborhood: shopping center
$1.2M
+9.3%
Auto repair, garage
$1.1M
+4.0%
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
$790,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,090,000
Current use
RETAIL STORES
$1,240,000
Change: +14% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,195,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,135,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,100,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $900k (May 23 2025)
Last sale anchor
$900k
May 23 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
$332 / 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
$13,696
Tax year 2024
Assessed value
$1,316,084
Assessed 2024
Previous assessed
$1,316,084
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$538,286
Assessed improvement
$777,798
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1981
Heating
NONE
Total area
2,544 SF
Lot
0.19 ac (8,352 SF)
APN
937-340-08
UPID
US09-2226560
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
OFFICE BUILDING Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1981
Heating
NONE
Lot
0.19 ac
Current owner
From public records · entity-resolved
Kiani Real Estate LLC
Entity
Mailing address
22974 EL TORO RD, LAKE FOREST, CA 92630-4961
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
$900,000
Kiani Real Estate LLC
Diane Merassa
Grant Deed
$720,000 · Fifth Third Bank NA
Jun 5, 2008
$172,000
Asset Management Services LLC
Advanced Group 93-5
Grant Deed
$511,000 · National Bank Of California
Sep 5, 2006
—
Advanced Group 93-5
Building Exchange
Grant Deed
—
Mar 1, 2006
$790,000
Building Exchange Co
Advanced Group 93-5
Grant Deed
$789,746 · R Julian Ents INC
Sep 15, 1997
$265,000
Advanced Group 93-5
Anderson,martha J
Grant Deed
$369,000 · Heller First Capital
—
—
Asset Management Services LLC
—
Deed Of Trust
related
$419,000 · Cdc Small Business Finance Co
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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