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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Theaters & concert halls
2891 University Ave 99 San Diego, CA 92104-2929
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-8657883
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2000
Total area
30,784 SF
Lot
0.46 ac (19,899 SF)
Zoning code
COMMERCIAL
APN
453-121-05-00
UPID
US09-8657883
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
-
The Observatory North Park Music Venue Bar & Pub
-
Peach Auto Painting Auto Repair Shop
-
Zumba Concert Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$890k
Owner & transaction history
Northpark Sd LLC · 11 yrs held
Northpark Sd LLC
since 2015
7 recorded transactions
Zoning & alternative use
COMMERCIAL · San Diego, 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 San Diego submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Diego 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$1,200,000
Current use
Blend value · Realmo final
$890k
Range $801k – $979k · ±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
$29 / 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
$130,244
Tax year 2024
Assessed value
$10,000,000
Assessed 2024
Previous assessed
$10,000,000
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$2,281,000
Assessed improvement
$7,719,000
Applied tax rate
8.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2000
Heating
NONE
Units
1
Total area
30,784 SF
Lot
0.46 ac (19,899 SF)
Zoning code
COMMERCIAL
APN
453-121-05-00
UPID
US09-8657883
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · San Diego, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · San Diego, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Diego. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
THEATER (MOVIE) Current
Est. value
$1.2M
THEATER (MOVIE) Current
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
2000
Heating
NONE
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Northpark Sd LLC
Entity
Free & Clear · 11 yrs held
Mailing address
2035 E VIS BELLA WAY, RANCHO DOMINGUEZ, CA 90220-6108
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2015
$10,500,000
Northpark Sd LLC
Cohen David S Trust
Grant Deed
—
Dec 30, 2014
—
Cohen,david S Trust|jones,robert Trust Etal
2891-2899 Univ Avenue LLC
Grant Deed
—
Dec 20, 2013
—
2891-2899 Univ Avenue LLC
Dcmm INC
Quit Claim Deed
$1,980,000 · Bank Of America
Nov 26, 2013
$2,012,000
Dcmm INC
First Choice Foreclosure
Trustees Deed
related
—
Jun 30, 2006
—
Lyric Opera San Diego
North Park Theatre LLC
Grant Deed
$4,000,000 · Clearinghouse Cdfi
Jun 2, 2004
—
North Park Theatre LLC
Redevelopment Agency San Diego
Grant Deed
related
—
May 30, 2002
—
Redevelopment Agency Of The City Of San
City Of San Diego
Quit Claim Deed
related
—
—
—
Lyric Opera San Diego
—
Deed Of Trust
related
$162,918 · Redevelopment Agency
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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