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Property profile & analytics
OFF-MARKET
Estimated value
$8,325,000
Grocery and convenience stores
2845 Ave L L Lancaster, CA 93536-4022
Individually Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-0095096
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1983
Construction
TILT-UP CONCRETE
Total area
43,255 SF
Lot
3.92 ac (170,816 SF)
Zoning code
LRC1DP*
APN
3112-003-033
UPID
US10-0095096
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.04M
Comparable Approach
Comparable
$7.95M
Blend (final)
Blend
$8.33M
Owner & transaction history
Spirit Spe Albtsn Portfolio 20 · 12 yrs held
Spirit Spe Albtsn Portfolio 20
since 2014
6 recorded transactions
Zoning & alternative use
LRC1DP* · Lancaster, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.4M
+94.2%
Neighborhood: shopping center
$11.9M
+72.8%
Auto repair, garage
$11.9M
+72.4%
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 Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster 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%
$11,955,000
6.5%
$11,035,000
7%
$10,245,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,880,000
Current use
COMMERCIAL (GENERAL)
$13,365,000
Change: +94% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$11,895,000
Change: +73% · Conversion: Moderate
AUTO REPAIR, GARAGE
$11,865,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$9,710,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$8.33M
Range $7.49M – $9.16M · ±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
$192 / 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
$124,126
Tax year 2024
Assessed value
$7,547,467
Assessed 2024
Previous assessed
$7,547,467
+0.0% YoY
Effective rate
1.64%
On assessed value
Assessed land
$3,485,296
Assessed improvement
$4,062,171
Applied tax rate
3.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
OTHER
Stories
1
Total area
43,255 SF
Lot
3.92 ac (170,816 SF)
Zoning code
LRC1DP*
APN
3112-003-033
UPID
US10-0095096
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LRC1DP* · Lancaster, CAZoning LRC1DP* · permitted uses
LRC1DP* · Lancaster, CA
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
RETAIL STORES Current
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$13.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.9M
AUTO REPAIR, GARAGE
Est. value
$11.9M
OFFICE BUILDING
Est. value
$9.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
3.92 ac
Current owner
From public records · entity-resolved
Spirit Spe Albtsn Portfolio 20
Individual
Mailing address
50 S 16TH ST STE #3010, PHILADELPHIA, PA 19102-2520
Mailing matches property
Different — outreach signal
Owner-occupied
No
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 3, 2014
$3,549,500
Spirit Spe Albtsn Portfolio 20
Brnk Lancaster LLC
Grant Deed
—
Jul 26, 2013
$2,811,528
Brnk Lancaster LLC
Comm 2006-fl12 California Limited P
Grant Deed
$74,000,000 · Wells Fargo Bank NA
Oct 15, 2012
—
2006-fl12 California Spe Comm
Abn Amro Bk
Deed In Lieu Of Foreclosure
related
—
Jul 25, 2006
$4,478,000
Abnk Properties LLC
Newkirk Midlem
Grant Deed
—
Jul 25, 2006
—
Abnk Properties LLC
Newkirk Midlem
Deed Of Trust
related
$150,000,000 · German American Capital Corp
Aug 17, 1999
—
Midlem Associates Ltd Ptnshp And
—
Deed Of Trust
related
—
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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