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Property profile & analytics
FOR LEASE
Flex space
3185 Airway Ave Costa Mesa, CA 92626
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-2260913
For Lease
1 / 2
$1,485,000
3185 Airway Ave, Costa Mesa, CA 92626
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1976
Total area
4,800 SF
Lot
0.11 ac (4,680 SF)
APN
427-194-05
UPID
US09-2260913
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
-
King's Seafood Company Take-out & Catering Fish Market
-
2000 Soft (Bike/Boat/Book/etc) Store Corporate Office
-
OC Air Tours Tour Operator (Bike/Boat/Book/etc) Store
-
Flight Training Simplified Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
$945k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.49M
Owner & transaction history
Calpalma Associates · 1 yrs held
Calpalma Associates
since 2024
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+17.8%
Auto repair, garage
$2.1M
+12.0%
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
$1,485,000
ML approach
$1,485,000
CAP Approach
CAP Return
Estimation
6%
$1,020,000
6.5%
$945,000
7%
$875,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,910,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,250,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,140,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$1,780,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,685,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±10% · vs last sale $1.49M (Jan 19 2024)
Last sale anchor
$1.49M
Jan 19 2024
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
$309 / 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
$19,587
Tax year 2024
Assessed value
$1,689,674
Assessed 2024
Previous assessed
$1,689,674
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,268,681
Assessed improvement
$420,993
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
For Lease
Year built
1976
Heating
NONE
Stories
1
Units
2
Total area
4,800 SF
Lot
0.11 ac (4,680 SF)
APN
427-194-05
UPID
US09-2260913
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
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
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
1976
Heating
NONE
Stories
1
Units
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Calpalma Associates
Entity
Mailing address
PO BOX 6252, NORTH HOLLYWOOD, CA 91603-6252
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2024
—
Calpalma Associates
Doradoso LLC
Deed
—
Nov 7, 2024
—
Ilana Funt
Doradoso LLC
Grant Deed
—
Feb 6, 2024
—
Doradoso LLC
Calpalma Associates
Correction Deed
related
—
Jan 19, 2024
—
Doradoso LLC
Calpalma Associates
Intrafamily Transfer
related
—
Sep 20, 2017
—
Calpalma Associates A Califorinia
—
Deed
related
$450,000 · City National Bank
Dec 1, 2016
$1,485,000
Calpalma Associates
Kings Seafood Co LLC
Grant Deed
—
Nov 28, 2016
—
Kings Seafood Co LLC
University Restaurant Group In
Quit Claim Deed
—
Sep 8, 2005
—
University Restaurant Group INC
Airway Costa Mesa
Grant Deed
$800,000 · Banco Popular North America
—
—
Costa Mesa Airway
—
Deed Of Trust
related
$280,000 · Great Northern Insured Annuity
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?”
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