Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2991 Randolph Ave Costa Mesa, CA 92626-4322
    Back to Search
    Property profile & analytics

    2991 Randolph Ave, Costa Mesa, CA 92626-4322

    View on Map
    • Flex space
    • 3,698 SF
    • 0.36 lot acres
    Off-Market
    Last Sale Dec 27, 2022
    Property ID
    US09-0098895
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    7.5%
    Flex space
    Location Intelligence

    Current Use by Public Records

    • 22 corporate, newport beach,ca / Hospital
    • Gods & Heros Salon / Hair Salon
    • leso studios / Hair Salon / Nail Salon
    • Carrie Wallace / Hair Salon / Nail Salon
    • Hair By Jennifer Baker / Hair Salon

    Property Details for 2991 Randolph Ave

    Year built
    1973
    Lot size
    0.36 lot acres
    Property type
    Flex space
    APN
    418-161-03
    APU
    41816103

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 27, 2022 — Sobeca Partners LLC Sobeca Partners LLC Intrafamily Transfer · related $1M · First Republic Bank
    Jul 15, 2004 — Sobeca Partners LLC Sadeghi,shaheen & Linda Grant Deed $650k · California National Bank
    May 6, 2004 $870,000 Shaheen Sadeghi Se Briggs & Son INC Grant Deed —
    — — S E Briggs — Deed Of Trust · related $300k · California National Bank
    — — S E Briggs & Son INC — Deed Of Trust · related $325k · California National Bank
    — — Sobeca Partners LLC — Deed Of Trust · related $535k · Farmers & Merchants Bk/lng Bch

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $630,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $785,000
      6.5%
      $725,000
      7%
      $675,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $402,000
      Market price range: $187k - $546k

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.888
    Latitude
    33.6795
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $14,466
    $1,016,170
    $203,500
    $1,219,670
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,375,000
      56,233 SF

      2925 Airway Ave

      LIGHT INDUSTRIAL
      2925 Airway Ave, Costa Mesa, CA 92626-6029
      View Details
    • Value Estimation
      $8,945,000
      60,572 SF

      2945 Airway Ave

      LIGHT INDUSTRIAL
      2945 Airway Ave, Costa Mesa, CA 92626-6007
      View Details
    • Value Estimation
      $2,185,000
      14,080 SF

      215 Baker St

      LIGHT INDUSTRIAL
      215 Baker St, Costa Mesa, CA 92626-4507
      View Details
    • Value Estimation
      $960,000
      5,971 SF

      2940 Randolph Ave

      LIGHT INDUSTRIAL
      2940 Randolph Ave, Costa Mesa, CA 92626-4389
      View Details
    • Value Estimation
      $1,590,000
      10,360 SF

      3020 Enterprise St

      LIGHT INDUSTRIAL
      3020 Enterprise St, Costa Mesa, CA 92626-3032
      View Details
    • Value Estimation
      $1,485,000
      4,800 SF

      3185 Airway Ave Ste J

      LIGHT INDUSTRIAL
      3185 Airway Ave Ste J, Costa Mesa, CA 92626-4601
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      34,885 SF

      Costa Mesa Flex Building For Sale

      Flex building on 1.53 acre lot in Costa Mesa.
      1690 Scenic Ave, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      39,149 SF

      Industrial Buildings Leased to Tesla

      Two industrial buildings totaling 39,149 SF, fully leased.
      3020 Pullman St, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      35,920 SF

      Industrial Building with Fenced Yard

      35,920 SF industrial building featuring a large fenced yard.
      3120 Airway Ave, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      55,693 SF

      High-Image Industrial Building For Sale

      55,693 SF industrial building in the Airport Area Market.
      3184 Pullman St, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      4,730 SF

      Costa Mesa Industrial Condo

      2,800 SF warehouse with offices and freeway access.
      3505 Cadillac Ave, Costa Mesa, CA 92626
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Costa Mesa Flex/Warehouse Property

      Office and flex/warehouse space in a professionally-managed business park.
      3100 Airway Ave, Costa Mesa, CA 92626
      View Details
    • Contact for pricing

      Costa Mesa - Spaces The MET

      Find fully flexible work and meeting space in Costa Mesa - Spaces The MET
      555 300, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      12,738 SF

      Creative Freestanding Building with Signage

      Move-in ready creative space with roll-up doors and patio.
      150 Paularino Ave, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      4,300 SF

      Costa Mesa Flex Space

      Flex space available for rent in Costa Mesa, CA.
      245-D5 Fischer Ave, Costa Mesa, CA 92626
      View Details
    • Contact for pricing

      CA, Costa Mesa - Harbor Blvd

      Discover many ways to work your way in CA, Costa Mesa - Harbor Blvd
      3330 Harbor Blvd, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      15,419 SF

      Costa Mesa Flex/Industrial Space

      Multi-tenant building with dedicated server room and freeway access.
      3159-3169 Red Hill Ave, Costa Mesa, CA 92626
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2991 Randolph Ave
    Costa Mesa, CA 92626-4322
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2991 Randolph Ave, Costa Mesa, CA, 92626
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!