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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3040 Filmore Way Costa Mesa, CA 92626-8813

    • Apartment buildings
    • 6,895 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Jul 12, 2023
    $2,850,000
    Value Estimations
    $2,950,000
    Show details
    Cap Rate Potential
    4.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-2840349
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3040 Filmore Way

    Year built
    1963
    Lot size
    0.27 lot acres
    Property size
    6,895 SF
    Property type
    Apartment buildings
    APN
    141-134-23
    APU
    14113423

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,380,000
      ML approach
      $3,410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,440,000
      6.5%
      $2,250,000
      7%
      $2,090,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,305,000
      Current use
      RESTAURANT
      $4,705,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $3,585,000
      Change: +8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,235,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,075,000
      Change: -7% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,745,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.902
    Latitude
    33.6822
    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
    $32,387
    $2,556,668
    $293,332
    $2,850,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,665,000
      349,995 SF

      2700 Peterson Pl

      APARTMENT HOUSE (100+ UNITS) • 349,995 SF
      2700 Peterson Pl, Costa Mesa, CA 92626-5300
      View Details
    • Value Estimation
      $15,895,000
      415,284 SF

      2705 Mesa Verde E Dr

      APARTMENT HOUSE (100+ UNITS) • 415,284 SF
      2705 Mesa Verde E Dr, Costa Mesa, CA 92626
      View Details
    • Value Estimation
      $15,575,000
      56,766 SF

      400 Merrimac Way

      APARTMENT HOUSE (5+ UNITS) • 56,766 SF
      400 Merrimac Way, Costa Mesa, CA 92626-6145
      View Details
    • Value Estimation
      $4,680,000
      30,616 SF

      2250 Vanguard Way

      APARTMENT HOUSE (5+ UNITS) • 30,616 SF
      2250 Vanguard Way, Costa Mesa, CA 92626-6575
      View Details
    • Value Estimation
      $24,820,000
      91,276 SF

      425 Merrimac Way

      APARTMENT HOUSE (100+ UNITS) • 91,276 SF
      425 Merrimac Way, Costa Mesa, CA 92626-6184
      View Details
    • Value Estimation by Request
      265,058 SF

      1250 Adams Ave

      APARTMENT HOUSE (100+ UNITS) • 265,058 SF
      1250 Adams Ave, Costa Mesa, CA 92626-5544
      View Details

    Similar Nearby for Sale

    • New
      $1,655,000
      Pending

      Costa Mesa Triplex Investment Opportunity

      Fully occupied triplex near OC Fairgrounds and Vanguard University.
      117 Clearbrook Ln, Costa Mesa, CA 92626
      View Details
    • New
      $1,670,000
      Pending

      Updated Triplex in Costa Mesa

      Well-maintained triplex with remodeled units, private patios, and garages.
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      View Details
    • $755,000

      Remodeled Corner Unit in Costa Mesa

      Charming remodeled corner unit with modern upgrades and desirable location.
      3447 Meadow Brk, Costa Mesa, CA 92626
      View Details
    • $850,000

      Remodeled Townhome in Costa Mesa

      Move-in ready townhome with upgrades and community amenities.
      2334 Richmond Way, Costa Mesa, CA 92626
      View Details
    • $1,195,000
      1,707 SF

      End-Unit Townhome Near South Coast Plaza

      Well-maintained 3-bedroom townhome in a gated Costa Mesa community.
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      View Details
    • Contact for pricing
      7,652 SF

      Costa Mesa Retail Space for Sale

      Upscale Auto Club Retail Space
      3080 Airway Ave, Costa Mesa, CA 92626
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,138 SF

      Costa Mesa Executive Office Space

      1,969 SF Executive Office Suite in Orange County
      150 Paularino Ave, Costa Mesa, CA 92626
      View Details
    • $3 SF/Yr
      55,693 SF

      Costa Mesa Industrial Warehouse For Lease

      ±55,693 SF Warehouse, Prime Location
      3184 Pullman St, Costa Mesa, CA 92626
      View Details
    • Contact for pricing
      16,230 SF

      Industrial Building on Corner Lot

      Industrial building with planned renovation and expansion potential.
      100-102 Kalmus Dr, Costa Mesa, CA 92626
      View Details
    • $6,499,000
      5,950 SF

      Office/Medical Space Available For Rent

      Second floor office/medical space available for rent.
      1120 Bristol St, Costa Mesa, CA 92626
      View Details
    • Contact for pricing

      Industrial Property in Costa Mesa

      Industrial property located in Costa Mesa, California. 100% leased.
      1580 Sunflower Ave, Costa Mesa, CA 92626
      View Details
    • $1.85 SF/Yr
      1,038 SF

      Costa Mesa Office Space Available

      Office space for rent in Costa Mesa, California.
      3187 Red Hill Ave, Costa Mesa, CA 92626
      View Details
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    3040 Filmore Way
    Costa Mesa, CA 92626-8813
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    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
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