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Property profile & analytics
OFF-MARKET
Estimated value
$7,285,000
Strip malls
31047 Courthouse Dr Union City, CA 94587-1718
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US09-8424290
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
TILT-UP CONCRETE
Total area
38,561 SF
Lot
3.67 ac (159,662 SF)
APN
463-60-51
UPID
US09-8424290
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
-
Crumbl - Union City Bakery Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.29M
Owner & transaction history
Pappas Union City 2 LP · 13 yrs held
Pappas Union City 2 LP
since 2012
5 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 Union City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Union City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$189 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$270,795
Tax year 2023
Assessed value
$12,988,113
Assessed 2024
Previous assessed
$12,733,519
+2.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$514,131
Assessed improvement
$12,473,982
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2005
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
4
Stories
1
Units
16
Total area
38,561 SF
Lot
3.67 ac (159,662 SF)
APN
463-60-51
UPID
US09-8424290
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, 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
2005
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
4
Units
16
Lot
3.67 ac
Current owner
From public records · entity-resolved
Pappas Union City 2 LP
Entity
Mailing address
2020 L ST FL #5, SACRAMENTO, CA 95811-4260
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
—
Pappas Union City No 2 LP
—
Deed
related
$455,000,000 · Bank Of The West
Dec 2, 2014
—
Pappas Union City 2 LP
—
Loan Modification
related
$46,700,000 · Miscellaneous Ins Co
Dec 10, 2012
—
Pappas Union City 2 LP
Pappas Union City LP
Quit Claim Deed
$40,000,000 · Key Bank NA
Dec 30, 2004
—
Pappas Union City
—
Trustees Deed
related
$9,850,000 · Bank Of The West
—
—
Pappas Union City
—
Deed Of Trust
related
$16,185,000 · Key Bank NA
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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