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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 2nd St Claremont, CA 91711-4705

    • Office buildings
    • 660 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2023
    $688,006
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    2.1%
    Office buildings
    Location Intelligence
    Property ID
    US10-0357821
    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

    • Ase Illuminations Herbal Apothecary / Herbalist
    • The Local Collective Market / Market
    • Piel Fina Skin Care / Facial Spa

    Property Details for 240 2nd St

    Year built
    1938
    Construction
    TILT-UP CONCRETE
    Lot size
    0.04 lot acres
    Property size
    660 SF
    Zone code
    CLCV*
    Property type
    Office buildings
    APN
    8313-019-011
    APU
    8313019011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000
      ML approach
      $765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $488,000
      Market price range: $158k - $489k

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

    Location Insight

    • Map
    • Local Demand
    City
    Claremont
    County
    Los Angeles
    State
    California
    Longitude
    -117.717
    Latitude
    34.0955
    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
    $8,748
    $459,000
    $242,760
    $701,760
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,315,000
      3,656 SF

      1001 Foothill Blvd

      PROFESSIONAL BUILDING • 3,656 SF
      1001 Foothill Blvd, Claremont, CA 91711-3306
      View Details
    • Value Estimation
      $780,000
      3,029 SF

      460 Indian Hl Blvd

      PROFESSIONAL BUILDING • 3,029 SF
      460 Indian Hl Blvd, Claremont, CA 91711-4613
      View Details
    • Value Estimation
      $4,135,000
      15,458 SF

      1290 Indian Hl Blvd

      OFFICE BUILDING • 15,458 SF
      1290 Indian Hl Blvd, Claremont, CA 91711
      View Details
    • Value Estimation
      $930,000
      2,976 SF

      243 Oberlin Ave

      OFFICE BUILDING • 2,976 SF
      243 Oberlin Ave, Claremont, CA 91711-4623
      View Details
    • Value Estimation
      $12,585,000
      69,841 SF

      555 Watson Dr

      OFFICE BUILDING • 69,841 SF
      555 Watson Dr, Claremont, CA 91711
      View Details
    • Value Estimation
      $635,000
      1,730 SF

      140 San Jose Ave, Unit 2

      OFFICE BUILDING • 1,730 SF
      140 San Jose Ave, Claremont, CA 91711-5204
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      153,231 SF

      Claremont Professional Office Park Location

      Move-in ready office space with prime frontage and abundant parking.
      601 W Foothill Blvd, Claremont, CA 91711
      View Details
    • $2,950,000

      Claremont Professional Office Building

      Professional office building in Claremont with on-site parking.
      201 W 4Th St, Claremont, CA 91711
      View Details
    • Contact for pricing
      3,000 SF

      Claremont Office Building - Great Location

      Spacious Office, Ideal for Professionals
      450 Ave, Claremont, CA 91711
      View Details
    • $3,900,000
      9,317 SF

      Claremont Office Building - Prime Location

      Fully Leased, 9,317 SF Office Building
      431 Baseline Rd, Claremont, CA 91711
      View Details
    • Contact for pricing
      29,934 SF

      Claremont Village Office Space

      Office space in amenity-rich Claremont Village Square.
      1-201 N Indian Hill Blvd, Claremont, CA 91711
      View Details
    • Contact for pricing
      17,775 SF

      Claremont Office Space For Sale

      Professional office space with frontage on Indian Hill Road.
      678 S Indian Hl Rd, Claremont, CA 91711
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Leased Office Building in Claremont

      100% leased office building located in Claremont, California.
      269 W Bonita Ave, Claremont, CA 91711
      View Details
    • $1.85 SF/Yr
      2,100 SF

      Claremont Office Space For Lease

      Office space available for lease in Claremont, California.
      101-141 Spring St, Claremont, CA 91711
      View Details
    • $6 SF/Yr
      2,168 SF

      Claremont Office Space Sublease

      Office space available for sublease through 2027 in Claremont.
      250 W 1St St, Claremont, CA 91711
      View Details
    • $3,700 /Mo
      1,200 SF

      Renovated Claremont Office Space

      Renovated 1,200 SF office near Claremont Village and colleges.
      1262 Harvard Ave, Claremont, CA 91711
      View Details
    • $7,278 /Mo
      3,639 SF

      Claremont Commercial Space on Route 66

      Restaurant or retail space available on historic Route 66.
      962 W Foothill Blvd, Claremont, CA 91711
      View Details
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    240 2nd St
    Claremont, CA 91711-4705
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    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
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