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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Medical Office Space
2440 Covell Blvd, Davis, CA 95616-5671
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US09-2372233
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Total area
10,786 SF
Lot
0.93 ac (40,510 SF)
Zoning code
P-D
APN
036-701-020-000
UPID
US09-2372233
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
-
Dr. Hung Ho Physician
-
Dr. Ryan Woodman Physician
-
Dr. Christian Sandrock Physician
-
Suraj Timilsina Medical Clinic
-
Aminaa Siddiqi Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$2.03M
Owner & transaction history
Davis Medical Building LP · 11 yrs held
Davis Medical Building LP
since 2014
6 recorded transactions
Zoning & alternative use
P-D · Davis, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.9M
+115.2%
Restaurant
$2.7M
+101.1%
Commercial (general)
$2.6M
+92.9%
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 Davis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Davis 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,435,000
6.5%
$2,250,000
7%
$2,085,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,325,000
Current use
OFFICE BUILDING
$2,855,000
Change: +115% · Conversion: Easy
RESTAURANT
$2,665,000
Change: +101% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,560,000
Change: +93% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,495,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
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
$188 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$26,863
Tax year 2023
Assessed value
$3,573,139
Assessed 2023
Previous assessed
$3,573,139
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$134,327
Assessed improvement
$3,438,812
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Heating
NONE
Total area
10,786 SF
Lot
0.93 ac (40,510 SF)
Zoning code
P-D
APN
036-701-020-000
UPID
US09-2372233
Jurisdiction
YOLO
Zoning & alternative use
P-D · Davis, CA
Zoning P-D · permitted uses
P-D · Davis, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Davis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.9M
RESTAURANT
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
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
2007
Heating
NONE
Lot
0.93 ac
Current owner
From public records · entity-resolved
Davis Medical Building LP
Entity
Mailing address
2001 2ND ST STE #4, DAVIS, CA 95618-5476
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2023
—
West Davis Medical Building LP
—
Deed
related
$7,500,000 · River City Bank
Aug 27, 2014
—
Davis Medical Building LP
West Davis Associates
Quit Claim Deed
—
Aug 10, 2009
—
West Davis Associates
—
Trustees Deed
related
$2,104,000 · Bank Of Sacramento
—
—
West Davis Medical Building LP
—
Deed Of Trust
related
$2,500,000 · Bank Of Sacramento
—
—
West Davis Associates
—
Loan Modification
related
$1,750,000 · Bank Of Sacramento
—
—
West Davis Associates
—
Deed Of Trust
related
$1,742,500 · Bank Of Sacramento
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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