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Property profile & analytics
OFF-MARKET
Estimated value
$19,125,000
Assisted living facilities
304 Melrose Dr Vista, CA 92083-4814
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6954934
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1986
Total area
44,724 SF
Lot
1.55 ac (67,518 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
163-270-41-00
UPID
US09-6954934
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
-
Life Care Center of Vista Nursing Home
-
Vista View Post - Acute Employment Agency
-
KARL EDWARD STEINBERG Geriatric Care Provider
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.59M
Blend (final)
Blend
$19.13M
Owner & transaction history
North Melrose Property Holdings LLC · 3 yrs held
North Melrose Property Holdings LLC
since 2022
Last sale
$20.2M
7 recorded transactions
Zoning & alternative use
RESTRICTED COMMERCIAL · Vista, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.3M
+115.0%
Medical building
$21.2M
+55.6%
Auto repair, garage
$17.1M
+25.2%
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 Vista submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vista 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
$18,490,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$13,640,000
Current use
RESTAURANT
$29,325,000
Change: +115% · Conversion: Difficult
MEDICAL BUILDING
$21,225,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,075,000
Change: +25% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,720,000
Change: +8% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,675,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$19.13M
Range $17.21M – $21.04M · ±10% · vs last sale $20.21M (Aug 18 2022)
Last sale anchor
$20.21M
Aug 18 2022
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
$428 / 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
$192,071
Tax year 2024
Assessed value
$17,646,000
Assessed 2024
Previous assessed
$17,646,000
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$5,100,000
Assessed improvement
$12,546,000
Applied tax rate
12.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1986
Heating
NONE
Units
176
Total area
44,724 SF
Lot
1.55 ac (67,518 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
163-270-41-00
UPID
US09-6954934
Jurisdiction
SAN DIEGO
Zoning & alternative use
RESTRICTED COMMERCIAL · Vista, CA
Zoning RESTRICTED COMMERCIAL · permitted uses
RESTRICTED COMMERCIAL · Vista, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vista. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$13.6M
RESTAURANT
Est. value
$29.3M
MEDICAL BUILDING
Est. value
$21.2M
AUTO REPAIR, GARAGE
Est. value
$17.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.7M
WAREHOUSE, STORAGE
Est. value
$12.7M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1986
Heating
NONE
Units
176
Lot
1.55 ac
Current owner
From public records · entity-resolved
North Melrose Property Holdings LLC
Entity
Mailing address
3450 OAKTON ST, SKOKIE, IL 60076-2951
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2022
$20,214,000
North Melrose Property Holdings LLC
Vista Snf Real Estate Investors LLC
Grant Deed
—
Mar 9, 2018
—
Vista Snf Real Estate Investors LLC
Vista Medical Investors LP
Grant Deed
$70,000,000 · Bokf NA
Jan 5, 2011
—
Vista Medical Investors LP
—
Deed Of Trust
related
$361,100,000 · General Electric Capital Corp
Dec 31, 1991
$2,450,000
Vista Medical Investors Ltd Part
Unknown
Grant Deed
—
Oct 31, 1989
$3,200,000
Del Mar Ca Vista
Arex Industries
Trustees Deed
related
—
—
—
Vista Medical Investors
—
Deed Of Trust
related
$122,900,000 · General Electric Capital Corp
—
—
Del Mar Ca Vista
—
Deed Of Trust
related
$3,200,000 · Unum Pension & I
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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