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Property profile & analytics
OFF-MARKET
Estimated value
$7,485,000
Flex space
2331 Pullman St, Santa Ana, CA 92705-5506
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2197178
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1976
Total area
32,148 SF
Lot
2.02 ac (88,175 SF)
APN
430-011-05
UPID
US09-2197178
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
-
Synchronous Aerospace Group Logistics Company Moving Company
-
Stratoflight Corporation Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.45M
CAP Approach
CAP
$6.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.49M
Owner & transaction history
Pullman Street LLC · 4 yrs held
Pullman Street LLC
since 2022
Last sale
$7.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$12.3M
+45.0%
Apartment house (5+ units)
$12.0M
+41.3%
Commercial (general)
$10.3M
+21.6%
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 Santa Ana submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Ana 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
$8,550,000
ML approach
$8,450,000
CAP Approach
CAP Return
Estimation
6%
$6,925,000
6.5%
$6,395,000
7%
$5,940,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,505,000
Current use
RETAIL STORES
$12,330,000
Change: +45% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,020,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,345,000
Change: +22% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,580,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$7.49M
Range $6.74M – $8.23M · ±10% · vs last sale $7.02M (Feb 28 2022)
Last sale anchor
$7.02M
Feb 28 2022
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
$233 / 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
$87,039
Tax year 2024
Assessed value
$7,298,406
Assessed 2024
Previous assessed
$7,298,406
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$6,258,006
Assessed improvement
$1,040,400
Applied tax rate
11.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1976
Heating
NONE
Stories
1
Total area
32,148 SF
Lot
2.02 ac (88,175 SF)
APN
430-011-05
UPID
US09-2197178
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
$8.5M
RETAIL STORES
Est. value
$12.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.0M
COMMERCIAL (GENERAL)
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$9.6M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1976
Heating
NONE
Stories
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Pullman Street LLC
Entity
Mailing address
6406 W OCEANFRONT, NEWPORT BEACH, CA 92663-1929
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2024
—
Cref3 Pullman 2 Owner LLC
—
Deed
related
$164,750,000 · Deutsche Bank National Trust Co
Feb 28, 2022
—
Pullman Street LLC
6th Street Ventures LLC
Intrafamily Transfer
related
$4,350,000 · Ohio National Life Insurance
Sep 27, 2021
$7,015,000
6th Street Ventures LLC
Ragco
Grant Deed
—
Sep 27, 2021
$14,000,000
John M Garrison
John M Garrison
Grant Deed
related
—
Apr 24, 2019
—
Ragco
Garrison Family Trust
Grant Deed
$400,000 · First Republic Bank
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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