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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Auto shops
241 Citrus Ave Covina, CA 91723-2624
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-9406992
Property summary
AI-generated overview
This exceptional Covina, CA retail storefront presents a compelling investment opportunity. Located at 241 S Citrus Ave, this 4,500 square foot, Class B building sits on a 0.48-acre lot and boasts 18 parking spaces. A recently signed 10-year net lease with a national tenant ensures a stable income stream, with a 5.00% cap rate and a $125,000 annual net operating income (NOI). The property underwent renovations in 2023, and the lease includes rent bumps and options. The tenant is currently undertaking significant interior improvements, further enhancing the property's value. This single-tenant, 100% occupied property is zoned CVTCC* and offers an excellent 1031 exchange opportunity. The lease commenced August 1st, 2024, and the tenant's occupancy began February 1st, 2024. The tenant's presence on three adjacent parcels underscores their long-term commitment to the location. The asking price is $2,500,000. Showings are by appointment only
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1971
Construction
TILT-UP CONCRETE
Total area
4,660 SF
Lot
0.39 ac (17,104 SF)
Zoning code
CVTCC*
APN
8444-008-032
UPID
US09-9406992
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
-
Budget Truck Rental Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$530k
Owner & transaction history
Dexter 131 LLC · 3 yrs held
Dexter 131 LLC
since 2023
Last sale
$500,005
1 recorded transaction
Zoning & alternative use
CVTCC* · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covina 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
$515,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $500k (May 9 2023)
Last sale anchor
$500k
May 9 2023
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
$114 / 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
$15,241
Tax year 2024
Assessed value
$1,196,692
Assessed 2024
Previous assessed
$1,196,692
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$990,301
Assessed improvement
$206,391
Applied tax rate
17.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1971
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
4,660 SF
Lot
0.39 ac (17,104 SF)
Zoning code
CVTCC*
APN
8444-008-032
UPID
US09-9406992
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVTCC* · Covina, CA
Zoning CVTCC* · permitted uses
CVTCC* · Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covina. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1971
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Dexter 131 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2510 PALISADES DR, CORONA, CA 92882-0632
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2023
$500,000
Dexter 131 LLC
Kent Burns Rambler INC
Grant Deed
—
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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