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Property profile & analytics
FOR SALE
Industrial properties
23 Hughes Irvine, CA 92618
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0102145
For Sale
1 / 3
$37,181,160
23 Hughes, Irvine, CA 92618
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Total area
47,195 SF
Lot
2.26 ac (98,401 SF)
APN
591-042-16
UPID
US09-0102145
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
$24.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.00M
Owner & transaction history
Psif Ebs Hughes LLC · 1 yrs held
Psif Ebs Hughes LLC
since 2024
Last sale
$24.0M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$32.2M
+87.8%
Retail stores
$23.0M
+34.1%
Neighborhood: shopping center
$22.1M
+29.1%
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 Irvine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Irvine 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
$24,000,000
ML approach
$24,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$17,145,000
Current use
RESTAURANT
$32,200,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$23,000,000
Change: +34% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$22,140,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,055,000
Change: +23% · Conversion: Easy
OFFICE BUILDING
$20,245,000
Change: +18% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$19,110,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$16,575,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$24.00M
Range $21.60M – $26.40M · ±10% · vs last sale $24.00M (Nov 4 2024)
Last sale anchor
$24.00M
Nov 4 2024
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
$509 / 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
$81,419
Tax year 2024
Assessed value
$7,741,687
Assessed 2024
Previous assessed
$7,741,687
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$5,701,687
Assessed improvement
$2,040,000
Applied tax rate
26.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1984
Heating
NONE
Total area
47,195 SF
Lot
2.26 ac (98,401 SF)
APN
591-042-16
UPID
US09-0102145
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
INDUSTRIAL (GENERAL) Current
Est. value
$17.1M
RESTAURANT
Est. value
$32.2M
RETAIL STORES
Est. value
$23.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.1M
AUTO REPAIR, GARAGE
Est. value
$21.1M
OFFICE BUILDING
Est. value
$20.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.1M
COMMERCIAL (GENERAL)
Est. value
$16.6M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1984
Heating
NONE
Lot
2.26 ac
Current owner
From public records · entity-resolved
Psif Ebs Hughes LLC
Entity
Free & Clear · 1 yrs held
Mailing address
18881 N VON KARMAN AVE STE #1450, IRVINE, CA 92612-8558
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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 4, 2024
—
Psif Ebs Hughes LLC
Psif Ebs Hughes LLC
Intrafamily Transfer
related
—
Dec 15, 2022
$24,000,000
Psif Ebs Hughes LLC
Teva Parenteral Medicines INC
Grant Deed
—
Sep 21, 2007
$11,000,000
Teva Parenteral Medicines INC
23-25 Hughes LLC
Grant Deed
—
Oct 18, 2004
—
23-25 Hughes LLC
Warsaw Family Trust
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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