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Property profile & analytics
OFF-MARKET
Estimated value
$2,840,000
Flex space
2968 Randolph Ave Costa Mesa, CA 92626-4390
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3109571
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1960
Total area
16,000 SF
Lot
0.72 ac (31,401 SF)
APN
418-162-02
UPID
US10-3109571
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
-
Process Creative Inc. Film Production Television Studio
-
Mellowist Garden Center Landscaping
-
Pacific Point Church Church
-
Arena OC Nightclub DJ & Entertainment
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.84M
CAP Approach
CAP
$3.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.84M
Owner & transaction history
Jerry O Palanjian · 2 yrs held
Jerry O Palanjian
since 2024
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
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 Costa Mesa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Costa Mesa 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
$2,840,000
ML approach
$2,840,000
CAP Approach
CAP Return
Estimation
6%
$3,405,000
6.5%
$3,145,000
7%
$2,920,000
Blend value · Realmo final
$2.84M
Range $2.56M – $3.12M · ±10% · vs last sale $2.84M (Jan 26 2024)
Last sale anchor
$2.84M
Jan 26 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
$178 / 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
$31,222
Tax year 2024
Assessed value
$2,398,260
Assessed 2024
Previous assessed
$2,398,260
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$1,711,683
Assessed improvement
$686,577
Applied tax rate
15.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1960
Heating
NONE
Stories
1
Total area
16,000 SF
Lot
0.72 ac (31,401 SF)
APN
418-162-02
UPID
US10-3109571
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Jerry O Palanjian
Individual
Mailing address
603 KINGS RD, NEWPORT BEACH, CA 92663-5711
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2024
—
Jerry O Palanjian
Jerry O Palanjian
Intrafamily Transfer
related
—
Apr 5, 2017
—
Palanjian Family Trust
Palanjian,jerry O & Marion
Quit Claim Deed
related
—
Mar 13, 2012
$2,840,000
Jerry O Palanjian
Raze Investments LLC
Grant Deed
$1,600,000 · Kazarian Family Trust (pt)
Nov 20, 2003
$1,600,000
Raze Investments LLC
Ktb LLC
Grant Deed
$1,200,000 · Union Bank Of California
Aug 5, 2003
—
Katitza N Schmidt
Schmidt,g G
Quit Claim Deed
related
—
Aug 5, 2003
$120,000
Katitza N Schmidt
Wenk,robert B
Grant Deed
—
Jan 22, 1991
$430,000
G Gerry Schmidt
Vanderlinden Joh
Grant Deed
—
—
—
Raze Investments LLC
—
Deed Of Trust
related
$966,000 · Cdc Small Business Finance 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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