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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Office buildings
38440 5th W St Palmdale, CA 93551-4498
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-8629521
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2008
Construction
WOOD
Total area
6,700 SF
Lot
0.67 ac (29,372 SF)
Zoning code
PDCPD*
APN
3004-002-024
UPID
US09-8629521
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
-
Blue Shield Promise (formerly Care1st) Medical Clinic
-
KAMRAN PARSA Physician
-
Manouchehr Md Khandadash Pediatrician Medical Clinic
-
Nagwa Mina Pediatrician Physician
-
Isis Iskander Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.36M
Owner & transaction history
Adar90 LLC · 1 yrs held
Adar90 LLC
since 2025
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
PDCPD* · Palmdale, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+57.8%
Warehouse, storage
$2.0M
+50.1%
Industrial (general)
$1.4M
+5.5%
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 Palmdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palmdale 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,310,000
Current use
COMMERCIAL (GENERAL)
$2,070,000
Change: +58% · Conversion: Easy
WAREHOUSE, STORAGE
$1,970,000
Change: +50% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,385,000
Change: +6% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,375,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10% · vs last sale $1.68M (Jan 25 2025)
Last sale anchor
$1.68M
Jan 25 2025
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
$202 / 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
$24,060
Tax year 2024
Assessed value
$1,508,756
Assessed 2024
Previous assessed
$1,508,756
+0.0% YoY
Effective rate
1.59%
On assessed value
Assessed land
$528,064
Assessed improvement
$980,692
Applied tax rate
7.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2008
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,700 SF
Lot
0.67 ac (29,372 SF)
Zoning code
PDCPD*
APN
3004-002-024
UPID
US09-8629521
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PDCPD* · Palmdale, CA
Zoning PDCPD* · permitted uses
PDCPD* · Palmdale, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palmdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2008
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Adar90 LLC
Entity
Mailing address
601 POTRERO GRANDE DR, MONTEREY PARK, CA 91755-7430
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Apr 25, 2025
$1,675,000
Adar90 LLC
Blue Shield Of Ca Promis Health Pla
Grant Deed
$2,000,000 · Live Oak Banking Company
Mar 25, 2014
—
1st Health Plan Care
Meridian Sierra Pelona LLC
Grant Deed
related
—
Dec 31, 2012
$797,500
1st Health Plan Care
Meridian Sierra Pelona LLC
Grant Deed
—
Oct 6, 2011
$3,550,000
Meridian Sierra Pelona LLC
General Electric Cr Equities
Grant Deed
—
Dec 30, 2010
$3,427,559
General Elec Cr Equities INC
First American Title Ins
Trustees Deed
related
—
Jun 20, 2007
—
Challenger Business Park
Scottsdale Commerce LLC
Grant Deed
$29,100,343 · Merrill Lynch Capital
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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