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Property profile & analytics
OFF-MARKET
Estimated value
$8,400,000
Parking lots & garages
29229 Western Ave Rancho Palos Verdes, CA 90275
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-8595957
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1967
Total area
14,800 SF
Lot
0.33 ac (14,161 SF)
Zoning code
RPRS-4*
APN
7557-030-031
UPID
US09-8595957
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
$8.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.40M
Owner & transaction history
Western Plaza Honey 2 LLC · 2 yrs held
Western Plaza Honey 2 LLC
since 2024
Last sale
$8.4M
3 recorded transactions
Zoning & alternative use
RPRS-4* · Rancho Palos Verdes, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.6M
+28.2%
Neighborhood: shopping center
$9.0M
+19.8%
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 Rancho Palos Verdes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rancho Palos Verdes 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
$8,400,000
ML approach
$8,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$7,520,000
Current use
RESTAURANT
$9,640,000
Change: +28% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,005,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,845,000
Change: -9% · Conversion: Difficult
MEDICAL BUILDING
$6,730,000
Change: -11% · Conversion: Difficult
OFFICE BUILDING
$6,640,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$8.40M
Range $7.56M – $9.24M · ±10% · vs last sale $8.40M (Mar 14 2024)
Last sale anchor
$8.40M
Mar 14 2024
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
$568 / 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
$991
Tax year 2024
Assessed value
$37,670
Assessed 2024
Previous assessed
$37,670
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$33,382
Assessed improvement
$4,288
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1967
Heating
NONE
Total area
14,800 SF
Lot
0.33 ac (14,161 SF)
Zoning code
RPRS-4*
APN
7557-030-031
UPID
US09-8595957
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
RPRS-4* · Rancho Palos Verdes, CA
Zoning RPRS-4* · permitted uses
RPRS-4* · Rancho Palos Verdes, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rancho Palos Verdes. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$7.5M
RESTAURANT
Est. value
$9.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$6.7M
OFFICE BUILDING
Est. value
$6.6M
PARKING LOT Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1967
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Western Plaza Honey 2 LLC
Entity
Mailing address
18001 SKY PARK CIR STE M, IRVINE, CA 92614-0506
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2024
$8,400,000
Western Plaza Honey 2 LLC
San Pedro Beach Properties
Grant Deed
$12,250,000 · Crecfiv Holdings LLC
Jan 13, 2006
—
San Pedro Beach Props
San Pedro Beach Properties
Quit Claim Deed
—
Feb 6, 2001
—
Beach Props San Pedro
Shinn C L Trustee,
Quit Claim Deed
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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