Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$7,700,000
Flex space
3121 Red Hl Ave Costa Mesa, CA 92626-4517
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3080391
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1966
Total area
15,571 SF
Lot
1.12 ac (48,598 SF)
APN
427-022-04
UPID
US09-3080391
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
-
Signet Marking Devices Industrial Manufacturer Production Facility
-
Artistic Marbleworks & Creations Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.47M
Blend (final)
Blend
$7.70M
Owner & transaction history
3121 Red Hill LLC · 4 yrs held
3121 Red Hill LLC
since 2021
Last sale
$6.9M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.6M
+71.3%
Retail stores
$8.1M
+30.6%
Apartment house (5+ units)
$7.5M
+20.4%
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
$8,590,000
ML approach
$8,675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,200,000
Current use
RESTAURANT
$10,625,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$8,100,000
Change: +31% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$7,465,000
Change: +20% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,305,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,945,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$5,775,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,460,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$7.70M
Range $6.93M – $8.47M · ±10% · vs last sale $6.88M (Dec 20 2021)
Last sale anchor
$6.88M
Dec 20 2021
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
$495 / 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
$85,338
Tax year 2024
Assessed value
$7,157,952
Assessed 2024
Previous assessed
$7,157,952
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$6,741,792
Assessed improvement
$416,160
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
1966
Heating
NONE
Stories
1
Total area
15,571 SF
Lot
1.12 ac (48,598 SF)
APN
427-022-04
UPID
US09-3080391
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
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.2M
RESTAURANT
Est. value
$10.6M
RETAIL STORES
Est. value
$8.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$6.9M
OFFICE BUILDING
Est. value
$5.8M
COMMERCIAL (GENERAL)
Est. value
$5.5M
INDUSTRIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1966
Heating
NONE
Stories
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
3121 Red Hill LLC
Entity
Mailing address
10850 FIRESTONE BLVD, NORWALK, CA 90650-2294
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2021
$6,880,000
3121 Red Hill LLC
Deirdre K Mcgiffin
Grant Deed
$5,000,000 · Comerica Bank
Dec 8, 2010
—
Mcgiffin Deirdre K Trust
Mcgiffin,deirdre
Quit Claim Deed
related
—
Sep 27, 2010
—
Deirdre Mcgiffin
Andrews Family 1981 Trust
Quit Claim Deed
related
—
Aug 6, 2010
—
Andrews Family 1981 Trust A
Andrews Family 1981 Trust
Quit Claim Deed
related
—
May 11, 2006
—
Melba E Andrews
Andrews,wayne D
Affidavit Of Death
related
—
—
—
Andrews Family 1981 Trust
—
Deed Of Trust
related
$450,000 · Lungo Mare Holdings LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3121 Red Hl Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
