Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2331 Pullman St Santa Ana, CA 92705-5506

    • Flex space
    • 32,148 SF
    • 2.02 lot acres
    OFF-MARKET
    Last Sale
    Feb 28, 2022
    $7,015,000
    Value Estimations
    $7,485,000
    Show details
    Cap Rate Potential
    4.9%
    Flex space
    Location Intelligence
    Property ID
    US09-2197178
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Synchronous Aerospace Group / Logistics Company / Moving Company
    • Stratoflight Corporation / Corporate Office / Factory

    Property Details for 2331 Pullman St

    Year built
    1976
    Lot size
    2.02 lot acres
    Property size
    32,148 SF
    Property type
    Flex space
    APN
    430-011-05
    APU
    43001105

    Value 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.844
    Latitude
    33.7132
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $87,039
    $6,258,006
    $1,040,400
    $7,298,406
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,860,000
      74,297 SF

      1929 Saint Andrew Pl

      LIGHT INDUSTRIAL • 74,297 SF
      1929 Saint Andrew Pl, Santa Ana, CA 92705-5143
      View Details
    • Value Estimation
      $3,725,000
      20,904 SF

      2076 Grand Ave

      LIGHT INDUSTRIAL • 20,904 SF
      2076 Grand Ave, Santa Ana, CA 92705-5250
      View Details
    • Value Estimation
      $4,070,000
      29,506 SF

      1805 Carnegie Ave

      LIGHT INDUSTRIAL • 29,506 SF
      1805 Carnegie Ave, Santa Ana, CA 92705-5502
      View Details
    • Value Estimation
      $4,490,000
      26,160 SF

      2117 Hathaway St

      LIGHT INDUSTRIAL • 26,160 SF
      2117 Hathaway St, Santa Ana, CA 92705-5245
      View Details
    • Value Estimation
      $8,370,000
      49,100 SF

      1851 Deere Ave

      LIGHT INDUSTRIAL • 49,100 SF
      1851 Deere Ave, Santa Ana, CA 92705-5720
      View Details
    • Value Estimation
      $5,200,000
      29,380 SF

      2441 Pullman St

      LIGHT INDUSTRIAL • 29,380 SF
      2441 Pullman St, Santa Ana, CA 92705-5508
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,480 SF

      Santa Ana Industrial Flex Space

      Industrial flex space with office and grade level doors.
      1361 S Lyon St, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      4,400 SF

      Industrial Condo For Sale

      Dual-tenant industrial condo with excellent freeway access.
      1901 E Carnegie Ave, Santa Ana, CA 92705
      View Details
    • $1,598,000

      Industrial Property in Santa Ana

      Industrial property featuring 3,696 square feet of space for sale.
      1920 G/H, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      13,891 SF

      Renovated Industrial Building with Yard

      Freestanding industrial building with renovated interiors and secured yard.
      922-924 S Lyon St, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      29,490 SF

      Industrial Space in Santa Ana

      29,490 SqFt industrial property available for sale.
      922-926 S Lyon St, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      15,599 SF

      Renovated Industrial Building with Yard

      Recently renovated industrial building featuring a large, secured concrete yard.
      926 S Lyon St, Santa Ana, CA 92705
      View Details

    Similar Nearby for Lease

    • $1.60 SF/Yr
      1,000 SF

      Industrial Complex with Flexible Units

      Multi-tenant industrial complex featuring flexible spaces for rent.
      1242-1264 S Lyon St, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      1,200 SF

      Santa Ana Flex Space Available

      Flex space with loading door and freeway access for lease.
      2189-2203 S Grand Ave, Santa Ana, CA 92705
      View Details
    • Contact for pricing

      Santa Ana Flex Space Available

      Flex space featuring office and industrial components for lease.
      2261-2271 S Ritchey St, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      12,000 SF

      Functional Freestanding Building For Lease

      Freestanding building with functional layout, office, and warehouse space.
      1801 Carnegie Ave, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      3,224 SF

      Santa Ana Flex Space Available

      Flex space available for sublease in Santa Ana, CA.
      1715-1780 E Mcfadden Ave, Santa Ana, CA 92705
      View Details
    • Contact for pricing
      2,400 SF

      Santa Ana Flex Space Available

      Flex space available for rent in Santa Ana, CA.
      2217-2231 S Grand Ave, Santa Ana, CA 92705
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2331 Pullman St
    Santa Ana, CA 92705-5506
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!