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Property profile & analytics
OFF-MARKET
Estimated value
$3,970,000
Retail space
29263 Central Ave Lake Elsinore, CA 92532-2250
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-3282823
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
WOOD
Total area
7,845 SF
Lot
0.8 ac (34,848 SF)
APN
377-040-032
UPID
US09-3282823
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
-
El Taco Bar Restaurant
-
Maui Hawaiian BBQ Restaurant
-
Skincare by Drea Spa & Massage Center Skin Care Clinic
-
iTAN Sun Spray Spa - Lake Elsinore Tanning Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.56M
Blend (final)
Blend
$3.97M
Owner & transaction history
David S Yessmann · 4 yrs held
David S Yessmann
since 2021
Last sale
$4.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.3M
+109.8%
Restaurant
$4.9M
+63.3%
Office building
$3.6M
+20.1%
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 Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore 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
$3,870,000
ML approach
$4,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,985,000
Current use
COMMERCIAL (GENERAL)
$6,255,000
Change: +110% · Conversion: Easy
RESTAURANT
$4,870,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$3,585,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,385,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$3.97M
Range $3.57M – $4.37M · ±10% · vs last sale $4.00M (Aug 11 2021)
Last sale anchor
$4.00M
Aug 11 2021
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
$506 / 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
$43,108
Tax year 2024
Assessed value
$4,161,600
Assessed 2024
Previous assessed
$4,161,600
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$4,161,600
Applied tax rate
5.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Total area
7,845 SF
Lot
0.8 ac (34,848 SF)
APN
377-040-032
UPID
US09-3282823
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
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
$3.0M
COMMERCIAL (GENERAL)
Est. value
$6.3M
RESTAURANT
Est. value
$4.9M
OFFICE BUILDING
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
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
2006
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Lot
0.8 ac
Current owner
From public records · entity-resolved
David S Yessmann
Individual
Mailing address
PO BOX 3218, TORRANCE, CA 90510-3218
Ownership since
2021
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
Aug 11, 2021
$4,000,000
David S Yessmann
Pacific Castle Lake Elsfnore Partne
Grant Deed
$2,390,000 · Kinecta FCU
Nov 1, 2018
$44,262,500
Pacific Castle Lake Elsinore Partne
Lake Elsinore Marketplace LLC
Grant Deed
$26,500,000 · Ctbc Bank Corp USA
Sep 6, 2006
—
Lake Elsinore Marketplace LLC
Cambern & Central Invtrs LLC
Grant Deed
$30,000,000 · Axa Equitable Life Ins Co
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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