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Property profile & analytics
OFF-MARKET
Estimated value
$4,935,000
Retail space
401 Azusa Ave Covina, CA 91722-3609
Entity Owned
3-yr Hold
Free & Clear
Property ID
US10-0279551
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Construction
TILT-UP CONCRETE
Total area
14,508 SF
Lot
1.65 ac (72,034 SF)
Zoning code
CVC4
APN
8434-018-035
UPID
US10-0279551
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
-
Walgreens Pharmacy Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Grace L. Chang, PharmD Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.89M
CAP Approach
CAP
$4.94M
Comparable Approach
Comparable
$4.15M
Blend (final)
Blend
$4.94M
Owner & transaction history
Project Capricorn Fund V LLC · 3 yrs held
Project Capricorn Fund V LLC
since 2022
Last sale
$5.1M
2 recorded transactions
Zoning & alternative use
CVC4 · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.7M
+101.5%
Medical building
$6.6M
+98.0%
Office building
$4.5M
+36.1%
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 Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covina 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
$4,685,000
ML approach
$4,890,000
CAP Approach
CAP Return
Estimation
6%
$5,350,000
6.5%
$4,940,000
7%
$4,585,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,330,000
Current use
AUTO REPAIR, GARAGE
$6,710,000
Change: +101% · Conversion: Difficult
MEDICAL BUILDING
$6,595,000
Change: +98% · Conversion: Difficult
OFFICE BUILDING
$4,530,000
Change: +36% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,485,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$4,265,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$4.94M
Range $4.44M – $5.43M · ±10% · vs last sale $5.08M (Dec 5 2022)
Last sale anchor
$5.08M
Dec 5 2022
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
$340 / 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
$103,751
Tax year 2024
Assessed value
$8,506,800
Assessed 2024
Previous assessed
$8,506,800
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$7,242,000
Assessed improvement
$1,264,800
Applied tax rate
3.0000
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
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
14,508 SF
Lot
1.65 ac (72,034 SF)
Zoning code
CVC4
APN
8434-018-035
UPID
US10-0279551
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVC4 · Covina, CA
Zoning CVC4 · permitted uses
CVC4 · Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$6.7M
MEDICAL BUILDING
Est. value
$6.6M
OFFICE BUILDING
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$4.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Project Capricorn Fund V LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2023
—
Project Capricorn Fund V LLC
—
Deed
related
$117,675,000 · Fifth Third Bank NA
Dec 5, 2022
$5,081,500
Project Capricorn Fund V LLC
Walgreen Co
Grant Deed
—
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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