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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Retail space
349 Alvarado St, Fallbrook, CA 92028-2912
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-9937556
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Total area
1,700 SF
Lot
0.18 ac (7,953 SF)
Zoning code
COMMERCIAL
APN
103-242-24-00
UPID
US09-9937556
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
-
Mark B Kirk Inc Construction Company General Contractor
-
Fallbrook Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$589k
Blend (final)
Blend
$730k
Owner & transaction history
Malcolm S Jones III · 4 yrs held
Malcolm S Jones III
since 2021
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Fallbrook, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$805,000
+107.2%
Auto repair, garage
$650,000
+66.6%
Office building
$615,000
+57.4%
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 Fallbrook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fallbrook 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
$800,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$805,000
Change: +107% · Conversion: Difficult
AUTO REPAIR, GARAGE
$650,000
Change: +67% · Conversion: Difficult
OFFICE BUILDING
$615,000
Change: +57% · Conversion: Easy
WAREHOUSE, STORAGE
$480,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±10% · vs last sale $725k (Sep 30 2021)
Last sale anchor
$725k
Sep 30 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
$429 / 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
$8,094
Tax year 2024
Assessed value
$754,290
Assessed 2024
Previous assessed
$754,290
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$338,130
Assessed improvement
$416,160
Applied tax rate
75.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1984
Heating
NONE
Units
1
Total area
1,700 SF
Lot
0.18 ac (7,953 SF)
Zoning code
COMMERCIAL
APN
103-242-24-00
UPID
US09-9937556
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Fallbrook, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Fallbrook, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fallbrook. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$805,000
AUTO REPAIR, GARAGE
Est. value
$650,000
OFFICE BUILDING
Est. value
$615,000
WAREHOUSE, STORAGE
Est. value
$480,000
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1984
Heating
NONE
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Malcolm S Jones III
Individual
Mailing address
349 E ALVARADO ST, FALLBROOK, CA 92028-2912
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2021
—
Malcolm S Jones III
—
Deed
related
$616,250 · Bank Of America NA
Sep 30, 2021
$725,000
Malcolm S Jones III
Mark B Kirk
Grant Deed
—
Jun 23, 2020
—
Kirk,mark B Trust
Mark B Kirk
Quit Claim Deed
related
—
Aug 20, 1999
$175,000
Mark B Kirk INC
Amberson Trust
Grant Deed
$140,000 · Seller
Jun 30, 1989
$218,000
Gilbert Allan R
Cooke Clayton T
Trustees Deed
$48,000 · Cooke Clayton T
—
—
Mark B Kirk
—
Deed Of Trust
related
$200,000 · Melanie Y Kirk
—
—
Mark B Kirk
—
Deed Of Trust
related
$75,000 · Ironstone Bank
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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