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Property profile & analytics
OFF-MARKET
Estimated value
$3,490,000
Strip malls
4051 Main St, Ventura, CA 93003-8280
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US10-1484696
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1978
Total area
16,400 SF
Lot
1.13 ac (49,222 SF)
Zoning code
C2
APN
079-0-280-215
UPID
US10-1484696
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.86M
CAP Approach
CAP
$3.25M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.49M
Owner & transaction history
Erick D Karlsen · 4 yrs held
Erick D Karlsen
since 2021
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
C2 · Ventura, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Ventura submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ventura 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
$4,860,000
CAP Approach
CAP Return
Estimation
6%
$3,515,000
6.5%
$3,245,000
7%
$3,015,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,580,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$3.49M
Range $3.14M – $3.84M · ±10% · vs last sale $3.40M (Jul 23 2021)
Last sale anchor
$3.40M
Jul 23 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
$213 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$38,672
Tax year 2023
Assessed value
$3,537,360
Assessed 2024
Previous assessed
$3,468,000
+2.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,300,500
Assessed improvement
$2,236,860
Applied tax rate
5.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1978
Heating
NONE
Rooms
2
Total area
16,400 SF
Lot
1.13 ac (49,222 SF)
Zoning code
C2
APN
079-0-280-215
UPID
US10-1484696
Jurisdiction
VENTURA
Zoning & alternative use
C2 · Ventura, CA
Zoning C2 · permitted uses
C2 · Ventura, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ventura. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$5.6M
OFFICE BUILDING
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
1978
Heating
NONE
Rooms
2
Lot
1.13 ac
Current owner
From public records · entity-resolved
Erick D Karlsen
Individual
Mailing address
5335 WAVECREST WAY, OXNARD, CA 93035-1846
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2021
—
Erick D Karlsen
—
Deed
related
$1,700,000 · American River Bank
Jul 23, 2021
$3,400,000
Erick D Karlsen
Virginia C Giacomini
Grant Deed
$1,700,000 · American Riviera Bank
Jul 23, 2021
—
Erick D Karisen
—
Deed
related
$1,190,000 · American River Bank
Oct 30, 2018
—
Giacomini,virginia C Trust
—
Deed
related
$1,030,000 · Miscellaneous Ins Co
Jul 31, 1998
$1,392,500
Mchamans Of Lancaster
Schaaf Trust
Trustees Deed
—
Jul 31, 1998
$1,300,000
Schaaf Trust
Mcmahan's Of Glendale
Trustees Deed
—
—
—
Giacomini,virginia C Trust
—
Deed Of Trust
related
$1,030,000 · Miscellaneous Ins Co
—
—
Virginia C Giacomini
—
Deed Of Trust
related
$1,050,000 · Pacific Crest Bank
—
—
Giacomini Virginia C Trust
—
Deed Of Trust
related
$1,100,000 · First Republic 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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